The state bank Belfius must reduce its fidelity premium from New Year, but will compensate this with a slightly higher base interest rate. The website Spaargids.be reports this and the news is confirmed by Belfius to De Tijd.
A number of Belgian banks have to adjust their savings interest rates on their regulated savings accounts, because they are legally subject to maximum rates. The basic interest rate is subject to a ceiling of 3 percent or the refinancing interest rate of the European Central Bank (ECB) if this is higher. Today it stands at 3.40 percent. The fidelity premium may not amount to more than half of the maximum basic interest rate: 1.70 percent.
Eight banks today still offer a fidelity premium of more than 1.70 percent on savings accounts. They have to go to the drawing board to adjust those rates. Belfius is the first to do that. On New Year’s Eve, the state bank will reduce the fidelity premium on its Fidelity account from 1.75 percent to 1.70 percent and raise the base interest on the same Fidelity account from 0.25 percent to 0.30 percent.