In the heat of the rate cut being carried out by the European Central Bank (ECB), banking entities are little by little cutting the interest rates they offer their clients for their savings products.
The most recent announcement in this regard has been carried out by ING. The bank of Dutch origin is informing its clients that next year it will reduce the profitability offered by its Orange Account.
“We want to tell you that, Starting next March 1, the interest rate on your Orange Account will be 1% APR. Your savings will have this remuneration as long as you continue with your Payroll Account, if this changes, the amount that clients without a Payroll Account have, at that time, will be applied to your Orange Account,” the entity has reported.
“Just as in recent years we have been increasing the remuneration of the account as the European Central Bank raised rates, now, after the several reductions of the last year, we have also we have to adapt to the market situation“, he assures.
In this way, clients who have a Payroll Account will receive a 1% APR for their savings starting in March 2025, compared to the previous 1.50%; while heThose who do not have a payroll will receive 0.5%compared to the previous 1%.
The Orange Savings Account has no conditions, oroffers profitability from the first euro and the money is always available. The only requirement is to have one of the other two accounts offered by the entity, the Payroll Account or the No Account Account.
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