Dutch people are serious savers. In June 2024, the total savings in the 
Netherlands amounted to 480 billion euros (source: DNB). But not all that money is sitting in a vault, waiting for you to need it for a big purchase.

• A portion of your money is used by the bank to provide loans and mortgages (simply put: someone else can buy a house thanks to your savings).
• Additionally, banks invest savings in companies to generate returns.

The banks use the profits to improve their products and services. They also pay the interest on your savings from this profit. A significant portion of the profit goes to the shareholders (owners) of the bank.

‍

Influence on the destination of your savings 💸

You can’t directly control how the bank uses your savings. However, you can influence it indirectly. To do so, you can look at a bank’s policies. Some banks focus on investing in sustainable projects or companies that engage in socially responsible business practices. For example, De Volksbank (parent company of ASN Bank, RegioBank, and SNS) places more emphasis on sustainability than ING (source: Consumentenbond).

‍

💡 Consider what’s important to you and see which bank aligns best with your principles, norms, and values. Many banks publish annual reports on their investment policies. You can use this information to make a conscious choice.

‍

Are my savings safe? 🛡️

A bank is not allowed to use all of your savings for mortgages, loans, and investments. By law, a portion must be kept at De Nederlandsche Bank (DNB). This is one of the ways to keep the system safe and prevent major problems.

‍

If people were to withdraw their money all at once in a so-called ‘bank run,’ it could lead to a situation where the bank doesn’t have enough cash. To prevent bankruptcy in such a scenario, the DNB can step in.

‍

💶 If you have no more than 100,000 euros in savings, your money is ‘safe’ at a Dutch bank. Thanks to the ‘deposit guarantee scheme,’ De Nederlandsche Bank ensures that you get your money back if your bank goes bankrupt.

‍

Achieve your savings goals with Grassfeld

Are you saving and want to know if you’re on track to reach your savings goals? Or do you want to gain more insight into your financial situation? Grassfeld can help! In the app, you can easily set up savings goals, and it will calculate how much you need to save each month to reach that goal. We also categorize your expenses, so you know exactly where your money is going and quickly discover where you can save (and therefore have more money left to save). Download Grassfeld now in the app store.