Savers have already withdrawn 200 million euros from e-DEPOs: is this investment still interesting? | My guide

The deposit account is off to a great start in 2023. From 5,278 accounts with a total value of €1.16 billion in December 2022, 19,440 went to deposits worth €1.9 billion in April.

The bills were also very attractive at the time. While banks still give very low interest on their savings accounts, good interest can be earned at the Federal Public Service Finance Administration. In January it was 2.40 percent, in February 2.80 percent, in March 2.90 percent, and in April even 3.10 percent. Much more than classic “risk-free” investing.

The interest on e-DEPO from the Deposit and Deposit Fund (DCK) is linked to the interest on government loans with a remaining term of one year. Every fifth-last business day of the month, DCK calculates the average interest rates offered for loans in the financial markets since the previous calculation. She then rounded this to 0.10 percent. This benefit then applies to the next month’s electronic DEPOs.

The saver must leave his savings for at least twelve months in order to earn interest.

The government covered e-DEPO, but launched new government bonds: Why this (contradictory) choice?

However, at the end of April, Finance Minister Vincent van Petegem decided to put an end to the generous system and cap the interest on e-DEPO at 2.50 percent. He did so at the request of the debt agency. They feared that the amounts in e-DEPO were too high. If they are withdrawn in a short period of time, this could lead to financing problems for the government. Funds in e-DEPO can be refunded instantly.

“After interest was capped, several large amounts were withdrawn, peaking in July and early September, after government bonds were issued. Since then, withdrawals have stabilized,” says Francis Adens, federal public service finance spokesman.

Although the number of deposit accounts opened has slowly increased since the cap was put in place, total deposits have declined. There are currently 20,239 files with a total deposit of €1.7 billion.

Is saving in the bank more interesting than depositing in e-DEPO? Below, compare the interest rates banks are currently offering on their savings accounts.

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