To buy a house in the Netherlands you need around 5% of the total cost of the house to cover expenses such as the notary, transfer tax and the technical inspection. Than means that for a house that costs €500.000 you need about €25.000 in cash.
Buying a house in the Netherlands has an uncertain timeline because of the fierce competition between buyers. It took us about a year to finally find a place we liked, and to actually have our offer accepted.
One year can feel long, but not long enough to gamble with the ups and downs of the stock market. So we played it safe and parked our savings in a high‑interest account instead.
Below, I share the high‑interest savings options we explored here in the Netherlands, and the one that felt right for us in the end.
1. High Interest Savings Accounts in the Netherlands
The highest flexible savings rates in the Netherlands come from newer or digital banks rather than the big three (ING, ABN AMRO, Rabobank). Dutch banks offer €100,000 Deposit Guarantee (Depositogarantiestelsel). The Dutch Deposit Guarantee Scheme protects your money if a Dutch bank goes bankrupt. It ensures that your savings are protected up to €100,000 per person, per bank. The Dutch central bank aims to reimburse you in 7 working days in the event of a bank failure.
2. How to Find the Best High Interest Bank Dutch accounts?
The best tool I’ve found so far for getting a clear overview and opening an account without any hassle is Raisin. It doesn’t just list Dutch savings accounts, but options from banks all across Europe. You can filter by country, interest rate, and other features, which makes comparing offers very easy. And because European banks are covered by deposit protection up to €100,000, it still feels safe and straightforward.
Many non-Dutch banks have higher interest rates than the Dutch banks. Be careful in case you choose a non-Dutch bank about extra taxes or fees that may apply.
3. What did we choose?
We choose Bunq. The reason for this choise was:
- It is Dutch. We chose to keep our savings with a Dutch bank because it felt safer. If a bank were ever to go bankrupt, we’d rather deal with a system we understand than deal with unfamiliar rules in another country.
- At the moment, it offered the highest interest rate of all Dutch banks.
- The Bunq Savings account is free, the bank doesn’t charge any fees.
- It has weekly interest. While weekly versus monthly interest does not differ too much for small amounts of money, emotionally it felt good to see interest added in our account every week.
Bunq also has cons:
- You can withdraw money only 2 times a month which makes the withdrawal feel less flexible.
- There are many negative reviews online about Bunq. I also saw positive reviews of course. After I did my research decided to go for it. Me and my partner use Bunq for savings for the last four years and we never had a problem.
If you have €25.000 in 2% interest account you will get €500 after a year. With this €500 you can pay the technical inspection! Not bad for just having your money parked.
Stay savvy.
Disclosure: This article is for informational purposes only and reflects my personal research and experience. This content may contain affiliate links. If you make a purchase through these links, I may earn a commission at no additional cost to you.
