Best savings accounts in the Netherlands

Your savings can help you reach your goals, so choosing the best savings account that meets your needs is important. There are a couple of different savings accounts to choose from so you need to know the differences between each and how these types of accounts may best suit your needs.

This guide covers our savings accounts picks in the Netherlands, with choices ranging from low-fee accounts to digital bank accounts. Compare savings accounts below and choose the right one for you.

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What do we mean by “best” savings account in the Netherlands?

The “best” savings account in the Netherlands will vary from person to person. It ultimately depends on your personal preferences and financial situation. Someone looking to minimise account fees and grow their savings might choose a low-fee account as their best savings account. A student, on the other hand, might prefer a specialized students account. Those looking for budgeting tools and other features to help them manage their money might choose a digital savings account instead. We’ve compiled a list of providers that meet these criteria below. It’s up to you to decide which criteria matter most to you and compare the providers to pick one that suits your savings needs best.

Comparing the best savings accounts in the Netherlands

*Rates and fees current at time of writing

Low-fee savings accounts

Individuals looking to grow their nest egg might prefer to have a savings account with low fees. Here are some popular ones to consider.

• ASN Bank Accounts. ASN is a socially-responsible bank in the Netherlands. It offers low-fee accounts to both adults and minors. While adults enjoy minimal account fees and fee-free ATM transactions within the EU, applicants below the age of 18 may enjoy completely waived fees.
• Rabobank DirectPackage Accounts. For a low flat fee per month, you might enjoy a savings account that comes with a range of features including contactless payment, online banking, and an intuitive mobile banking app.
• ABN-AMRO Bank Accounts. Expats might wish to consider saving with ABN-AMRO, whose Standard Current Account is the only low-cost savings account in the Netherlands with multi-lingual support.

Specialised savings accounts

The best savings account in the Netherlands could ultimately be one that best fits your financial profile. This means that you should consider opting for specialised savings accounts when applicable, such as student savings accounts.

• ASN Youth Savings Account. As mentioned, ASN Bank offers special discounts on savings accounts for those below the age of 18. Students might want to consider this account, which comes with waived monthly fees, deposit requirements and an interest rate of 0.55% p.a.
• ABN-AMRO KidsFuture Savings Account. Applicants below the age of 18 can benefit the full range of features offered by an ABN-AMRO savings account, including online banking functionality, for no monthly fees or minimum deposit requirements.
• Rabobank Future Savings Account. This account helps you settle pension deficits in a tax-friendly manner. For a one-off fee of €27.50, you can enjoy all the perks of this specialised retirement savings account.

Digital bank savings accounts

Digital banks in the Netherlands come with a world of benefits, from easy payments to smart money management insights. These alternative savings solutions tend to be most popular with tech-savvy millennials, who prefer managing their finances from the comforts of their homes.

• N26. N26 offers three account tiers at different prices with varying levels of perks. Regardless of which tier you pick, all N26 accounts come with a Mastercard for quick payments, free ATM withdrawals in Euros and fee-free payments in any currency. There are also plenty of in-app features to help you save and manage your money better.
• Revolut.Revolut also offers three account tiers with increasing levels of benefits. All Revolut accounts receive a free IBAN account, a UK current account and card for easy spending. You can spend in more than 150 currencies and exchange 29 fiat currencies. Revolut’s savings features include Revolut Vaults, which encourages users to budget better and save more.
• bunq. bunq’s premium accounts allow users to open and manage multiple IBAN accounts. With bunq, you may enjoy competitive overseas payment rates, a limited number of free ATM withdrawals and exclusive savings features. What differentiates bunq from other digital banks is it allows users to accrue interest on their savings.

How to compare the best savings accounts in the Netherlands?

Here are some ways you may wish to compare the savings accounts above, in order to choose the best one for you.

• Interest rates. If you’re looking to grow your wealth, then parking your money in a high-interest savings account may be important to you. Choose providers that offer high interest rates in the long-term, as well as occasional bonus interest rate perks.
• Convenience. Are you the kind of person who dreads going to a bank branch and waiting through long queues? In that case, a digital bank account might be better for you. Alternatively, you may want to try a traditional Netherlands bank provider who offers online banking features and strong customer support online.
• Fees. Worried about high account fees eating at your savings? You might want to opt for a low-fee or no-fee savings account.
• Personal considerations. There are plenty of minor features that could impact your overall banking experience. People who prefer spending in cash might prioritise a savings account with low ATM cash withdrawal fees. Others might prioritise good quality customer service. Make a list of such personal preferences and see which savings account provider best meets your criteria.
• Overall financial profile. Customised savings accounts, like student or retirement savings accounts, might best meet your financial profile and thus be the best savings account for you.

Frequently asked questions

• What do I need to open a savings account in the Netherlands?

  In general, you might need to provide proof of identity, proof of residence and your BSN number (for native Dutch residents or non-EU expatriates).

• Are digital banks in the Netherlands safe?

  Digital banks in the Netherlands are safe as long as they hold proper licensing and are appropriately regulated. Always check for the necessary licensing on the digital bank’s website or clarify any queries with their customer service before signing up.

• Can I open a shared savings account in the Netherlands?

  If an individual savings account does not suit your needs, you may opt for a joint savings account. Such an account often comes with 1 IBAN number instead of 2.