Over €300 billion stashed away in Belgians' savings accounts

Over €300 billion stashed away in Belgians' savings accounts
Credit: Belga

A total sum of over €300 billion was put into Belgians' savings accounts again at the end of last year, according to figures from the National Bank.

At the end of December 2022, a total amount of €300.331 billion in savings was reached. Mainly higher interest rates have enticed Belgians to start putting money in their savings accounts again, De Standaard reports.

The €300-billion mark was reached for the first time at the end of 2021, but the numbers dropped quickly until that symbolic threshold was crossed again in the summer of 2022. In the autumn, it went downhill again.

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In terms of current accounts, Belgian accounts have €16 billion fewer in them since August, figures from the National Bank show. Additionally, other savings products with higher interest rates are becoming more interesting again. For instance, term accounts grew by €7 billion over the past six months, to the highest level since 2017, De Tijd calculated.

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