More than €1 billion poured into new Belgian government bonds: how banks are responding and how savers can benefit

More than €1 billion has already flowed into Belgium's new government bonds, and banks are responding by making their term deposits more attractive.

The move aims to prevent savers from shifting large amounts of money out of ordinary savings accounts. The listed net interest rates vary widely between banks, from 2.24% at MeDirect to 0.945% at Keytrade Bank.

MeDirect requires a minimum investment of €100, while Beobank may impose a minimum. BIL lists a €10,000 minimum, Europabank €1,000, vdk bank €200 and Deutsche Bank €100,000. Other minimums range from €100 at NIBC and BankB to €5,000 at Keytrade Bank.

The rates listed include 2.10% at Beobank, 2.03% at BIL, 1.96% at Europabank and vdk bank, 1.925% at Santander Consumer Bank, and 1.68% at Izola Bank. Argenta offers 1.61%, Triodos Bank 1.575%, NIBC and UniCredit 1.33%, and BankB 1.05%.

Michaël Van Droogenbroeck, VRT NWS's money expert, cautioned that savers may lose substantial purchasing power with either a government bond or a term deposit.

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Although with a government bond or term deposit you do lose purchasing power considerably.