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More than 290 billion euros in Belgian savings accounts

Belgians have more than 291.5 billion euros in regulated savings accounts, according to figures released Monday by the National Bank of Belgium (BNB).

Despite the low interest rates, Belgians continue to opt to place money in savings accounts, breaking new total records. The coronavirus crisis and containment measures have enabled Belgians to consume less and have pushed them to save more.

The latest figures is a slight increase from May (nearly 289.5 billion euros) and April (285.2 billion).

According to the BNB, Belgian households were able to save no less than 19.1% of their income during the first quarter, a record and significantly more than in the previous three months, when the savings rate was 12.7%.

The Brussels Times