The Consumers’ Association argues for a ban on a negative interest rate for savers. The union wants to prevent savers from doing irresponsible things with their money, such as storing it at home.

The Consumers’ Association points to Belgium, where there is a legal minimum of 0.11% for savings from private individuals. And Germany is now also investigating such a ban on savings of up to € 100,000.

“That doesn’t seem like a bad idea to us either,” says Sandra Molenaar, director of the union.

According to a poll by the Dutch Consumers’ Association among 7000 members of its panel, savers would start to move if interest rates fall below zero. Almost a quarter would go looking for a bank where a little interest is still paid. And one in five people would like to take the money away to save at home.

Another 10% is considering investing and also paying off the mortgage is a popular option. Only 16% say they will leave the money in the savings account even with a negative interest rate.

“The poll shows that consumers are not willing to pay for saving their savings. An important signal for the banks, “says Molenaar.

She advises consumers not to put the money under the mattress or in an old sock: “Our economy is not at all geared for so much cash and moreover it is extremely risky to have so much money in the house.”

The European Central Bank (ECB) again lowered interest rates yesterday. Bad news for savers, although banks were somewhat spared by additional measures. Yet it is still not unlikely that they will have to lower interest rates below zero.

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