Is bank savings at a bank also a safe way of saving in the event of a bank failure? If you don’t take the right measures, you won’t. What are the right measures to protect your savings? After all, a bank can also go bankrupt. Bank savings is fiscally smart saving at lower costs. Choose safe bank savings, see how best to do this and why bank savings is so popular. Do not confuse bank savings with the savings mortgage, because if the insurer goes bankrupt, there is no cover.
Bank savings on a blocked account is popular
Bank savings is fiscally smart saving on a blocked bank account. You can bank save for all kinds of reasons:
- For your own home and the mortgage repayment;
- To arrange your golden handshake or severance payment in a smart way, so that you do not have to pay a lot of tax unnecessarily;
- For your pension, insofar as you have a pension deficit;
- For your funeral.
Since 2013, due to changed conditions for mortgage interest deduction, a new bank savings mortgage is no longer attractive.
Save safely with bank savings in the event of bank bankruptcy?
Saving and depositing money into a blocked bank account also means that you can build up considerable capital at the bank after a number of years. And a bank can go bankrupt. That is why you should always ask yourself whether bank savings are also safe savings. You should not choose a bank once and think that your pension or assets will automatically turn out fine.
The deposit guarantee scheme as a bank guarantee for bank savings
Fortunately, bank savings also fall under the deposit guarantee scheme of the Dutch bank. This means that your savings are guaranteed up to a maximum of 100,000 euros per person. Your savings are therefore partly guaranteed, of which the capital from bank savings is also a part. If you also have other savings with the same bank, it may be too easy to obtain the maximum guaranteed amount. It would be a shame if, after many years of saving, you lost part of your savings in the event of a bank failure.
Spread your savings across multiple banks to save extra safely
What you should pay attention to is that you spread your savings over several banks that have their own banking license. Parking your money at two banks that fall under the same banking license also makes no sense, because the bank guarantee applies per banking license and not per bank. This means that in the case of two brands from the same institution (for example, de Volksbank has multiple brands), you will only be covered by the bank guarantee once and not twice.
Do not take multiple forms of bank savings with the same bank
I would also not opt for multiple forms of savings and bank savings at the same bank. For example, if you have a mortgage with a bank and several bank deposits at the same bank, including several forms of bank savings, there is a good chance that everything will be offset in the event of a bankruptcy. If you have a mortgage of 200,000 euros and a savings balance of 100,000 euros with bank A, the curator will conclude that you have a loan of 100,000 euros left. Then you will not receive any savings back, but you will be left with a lower mortgage.
Bank savings is above all fiscally smart saving
Of course, bank savings are fiscally smart savings because you do not pay tax on your capital when building up your capital and you can also deduct part of your income with pension savings. And bank savings are usually much more transparent than saving with an insurance company, but still. Spread your money across sufficient banks and be well informed. The internet is very helpful in this regard.
- Bank savings in 2021