Target savings Rabobank

Target savings from the Rabobank or saving on the Orange account from the ING bank means saving at your own pace for a savings goal with a nice savings interest rate. With goal-oriented savings you can easily achieve your own goals, save for your child, your business or another goal. You know in advance where you stand and how much you will save. Having a goal encourages saving for it. You can save with interest on interest or have the interest transferred annually to another account. Saving at Rabobank is super safe given the AA rating and having a savings goal makes saving easier.

Goal saving = saving for a goal with the highest savings interest rate

We all have a goal for which we want to save and for which money must be set aside. Children save for a new bicycle, a study, a trip or something else. Adults do that too, or the association that is going to celebrate an anniversary. But realizing a new goal often requires money. Rabobank helps you with this with a clear account, called target savings. You can open this savings account for free.

Calculation example of goal savings

To give an idea: if you invest money for a number of years, you can receive up to 0.5% interest per year in 2020. This is a fixed interest rate for the entire term. So no surprises afterwards due to a now lower interest rate. Also no promotional interest rate that other banks use to attract customers and which is then reduced after a short time. No, a fixed interest rate that is known to you in advance. When investing on the stock market you can still miss your goal because the stock market goes down, but with target savings this is impossible. You get what you calculated in advance.

Goal Savings is new at Rabobank

Saving for a specific goal is relatively new, but it is a very smart choice from this bank. With goal savings you can create different savings pots for all kinds of fun things. The ING bank has the Orange account with a savings purpose. Rabobank’s purpose-based savings has a somewhat different character and does not have a variable interest rate. This can be an advantage, but of course also a disadvantage. At first it seems mainly an advantage, because you know for sure what the savings will be worth and it is therefore known in advance that you can achieve your goal financially.

Save at high savings interest rates

The amount of the savings interest depends on the term you choose. You can choose a duration of a minimum of 1 year and a maximum of 20 years. Moreover, you can always opt for an extension afterwards. You can also deposit additional money. Withdrawing money in the meantime is also possible. Interim withdrawal is less attractive, because the bank may charge extra costs and you will miss out on part of the attractive savings interest. But it is possible, and situations can always arise that would make you prefer to withdraw your money from the account. This is a major advantage compared to saving on a savings deposit. With most savings deposits, interim withdrawal of money is not possible. Yes here.

Save for your child or business

You can also save for your child or business. And now we already have many children’s savings accounts or savings accounts at banks, but most of them have a very long term and only pay out when your child is 18 years old. With target savings you don’t have to wait that long. You can opt for a term of several years, and if you do not want to withdraw it yet, simply extend the account. This form of saving can also be attractive for your company to put some money aside through the business. Moreover, the interest you receive is usually more attractive than the interest on business savings from most other banks.

Key lock

Goal saving seems to be becoming a new concept that is appreciated by savers. Because of the high interest rate, which can be as high as 0.5%, and because you know exactly where you stand. This way, every financial goal quickly comes closer.