Why save at a bank?

The Dutch are known as savers. Not a cent too much, for example, is a nationally known statement from the butter brand Zeeuws Meisje. This already indicates how people think about the Dutch. Saving is therefore encouraged by the government. The customer is well rewarded through, for example, salary savings schemes or investing in certain funds. Saving at the bank is something we don’t all do anymore, but it can still have many advantages. In this article you can read a number of reasons.


Saving at a bank originated around the end of the nineteenth century. Saving immediately became a great success. This success of saving diminished slightly when the state pension was introduced. People no longer had to provide themselves with a savings pot. During the recession in the 1980s, consumers started saving again. People wanted to have something in hand and had more confidence in managing their own money. This has gone back and forth in fits and starts. Around the turn of the century, a lot of savings was used for stock trading. But since the financial crisis started and the stock markets fell, people have started to save more consciously again. Although saving at a bank apparently does not guarantee anything, as it is Icesave Bank in Iceland. However, saving at a bank has many major advantages. Below you will see a number of reasons why you might be better off saving at a bank.

Security up to 100,000

The advantage of saving at a bank is that your money is in principle safe. Normally there is a nice annual interest on it and you can often access this money whenever you want. It has also been established that if a bank goes bankrupt, which often occurs during an economic recession, the affected person will receive his savings up to 100,000 back. Previously this was up to just 20,000. This allows the customer to safely store his money.

Increase in the interest rate

Interest rates at banks vary enormously. This difference may be per bank, but also due to the economic situation in the country. In addition, competition between banks can ensure that one bank offers a tenth more percentage than the other. When taking out such a savings account, always read the conditions carefully and why banks sometimes offer gifts or the like. If interest rates are low, as is often the case during economic recessions, your money will unfortunately not be worth much. But it is of course a pleasant thought that interest rates will one day rise again. And then you reap the benefits. It may just take some time and patience.

To worry or not to worry?

Compared to a trade fair, you have it easy. The money is in the account and without you having to do anything, it automatically becomes more and more valuable. In general, it will not become much less valuable any time soon. This is in contrast to the stock exchanges. That seems very interesting in itself, but also realize that the stock markets can fall sharply. The trader sometimes has to respond adequately to this. If you like that game, then an IPO is something for you, but with a savings bank your money is safe and you will have a nice extra in the account over a long period of time without having to worry about it.


Also an additional advantage; Saving is always free! Banks are happy to welcome you if you want to save with them. Sometimes you also receive presents. Sometimes these can be temporarily higher interest rates, but sometimes they also mean outings or you get nice products. This is often in contrast to the stock exchanges. Here you have to pay money, such as transaction fees, custody fees or something similar.

You’ll need it soon

A final reason why you might want to start saving at a bank is that this way you create a nice fund for later. When times get tough, you always have some money on hand. Nevertheless, the interest rate will go down, but at least the money (up to 100,000) is safe and yours. If you are fired during a financial crisis, you will not immediately be in a bad position. And it gives a good feeling. If you have money in shares, it may be wise to take the money out and place it in a bank. During a recession, your money may quickly shrink like snow in the sun.