Besides, since November 2010 households seem to mind less if their money is temporarily inaccessible. The funds involved relate to savings of households at Dutch banks, excluding savings for pensions managed by pension funds and life insurers.
In 2007 and 2008, encouraged by the then steeply rising interest rates on tied up savings, households had also deposited large sums of money in long-term savings accounts. At the time, that amount even rose from well over EUR 20 billion to almost EUR 100 billion. This is not yet the case now. Possibly, the difference between the interest rates for both manners of saving is not large enough yet. In March 2011, approximately EUR 35 billion was tied up in savings.
Rise in long-term saving deposits of Dutch households
- Statistical News Release
Date 28 April 2011
In the first quarter of 2011, Dutch households set aside EUR 2.5 billion in savings for a longer period of time, largely at the cost of demand deposits, which decreased by more than EUR 2 billion.This switch to long-term deposits may have been prompted by the slightly increasing interest rate difference between both savings forms.
