In 2020, the amount of savings of Dutch households in the bank grew to an all-time high. The main reason for this increase is the coronavirus crisis. Savings held at Dutch banks are automatically and legally protected by the Dutch Deposit Guarantee up to €100,000 per person, per bank. This amount is still sufficient to fully protect about 98% of all savers.
At the end of 2020, Dutch households held over €487 billion in their bank and savings accounts. This means that last year the amount of money in checking and savings accounts increased by €42 billion. The total savings deposits of Dutch households have steadily increased over the past years. Compared to 2020, the amount has doubled.
The Dutch Deposit Guarantee has been operational since 1979. The volume of savings guaranteed by the Dutch Deposit Guarantee has also increased over the years. The amount of guaranteed savings is the amount on accounts up to €100,000 and also takes into account savings held with Dutch banks by customers in other European countries.
Guaranteed savings have grown from around €360 billion in 2008 to €560 billion in 2021. An increase of more than 50% since the financial crisis. Due to the coronavirus crisis, there was a further surge in 2020 and guaranteed savings grew by 9%.
Despite the overall growth in savings, the savings accounts of most customers at Dutch banks are still fully protected. This is due to the relatively high coverage limit of €100,000. The average amount per account has increased from €7,080 (2009) to €9,740 (2020) and over 98% of Dutch savings accounts have a balance of less than €100,000. This also gives a good indication of the protection per person. The conclusion is that almost all savers are fully protected.
Since 2016, banks have been building up a deposit guarantee fund protecting savers and banks in the event of bank failure. The fund thus contributes to the solidity of the Dutch Deposit Guarantee and fosters social trust. As the total amount of savings grows, the size of the fund must also increase. For this purpose, banks pay additional contributions. In this way, DNB ensures that the size of the deposit guarantee fund remains at the right level and all Dutch people can be certain that the protection of their money in the bank has been taken care of.
DNB administers the Dutch Deposit Guarantee. Please also see our other pages with more information.
30 January 2024
News
When a bank fails, we make sure that account holders can quickly regain access to their money. Effective 1 January 2024, this will take no more than seven working days. Back in 2009, it was three months.
Read more Customers of bankrupt bank have access to their money even faster
06 December 2023
News
Dutch households are putting more and more money in bank accounts abroad, according to the latest quarterly figures from DNB and the ECB. Countries where savings rates have recently risen are particularly popular among Dutch savers.
Read more Dutch households save more abroad
13 January 2023
News
The money in accounts at foreign banks operating in the Netherlands is protected by the deposit guarantee of the country of origin of that bank.
Read more Is my money at a foreign bank protected by the Dutch Deposit Guarantee?
31 May 2022
The volume of savings at Dutch banks is rapidly increasing. At the same time, only a little over half of all Dutch people know about the protection of this money by the Dutch Deposit Guarantee. General awareness is lower among young people and women.
Read more Dutch people are insufficiently aware of deposit guarantee