Hey bunqers 🌈
You can count on us to always give you the best possible interest on your savings. Although the European Central Bank has lowered its interest rates recently, we are now introducing a bonus interest rate of 3.36%* to reward extra savings.
New MassInterest rate for all EEA residents
Your threshold amount for receiving bonus interest is the highest savings balance reached between January 1, 2024 and June 30, 2024. From July 1 to December 31, 2024, you accrue a base interest rate of 2.01%* on your savings balance up to this threshold amount. Any balance exceeding this threshold amount earns a bonus interest rate.
If you’ve signed up for bunq on/after July 1, 2024
- You didn’t have any savings balance between January 1 and June 30, 2024 so your threshold will be 0. Therefore, you’ll receive a variable bonus interest rate (currently 3.36%*) on all your savings up to €100,000 until December 31, 2024
If you’ve signed up to bunq before July 1, 2024
- The highest savings balance that you reached between January 1, 2024 and June 30, 2024 determines your threshold amount.
- Between July 1, 2024 and December 31, 2024:
- You’ll get an annual variable base interest of 2.01%* up to your threshold amount
- You’ll get an annual variable bonus rate (currently 3.36%*) on any additional funds deposited between July 1, 2024 and December 31, 2024 that are above your threshold amount.
The system will automatically reset itself on January 1, 2025: your threshold amount will then be recalculated to become the highest savings balance you reached between July 1, 2024 and December 31, 2024. Then, between January 1, 2025 and June 30, 2025, you’ll earn the base interest rate up to your new threshold and the bonus rate on balances over the threshold amount.
*The base rate and the bonus rate may be subject to change before December 31, 2024.
MassInterest calculation
From July 1, 2024 to December 31, 2024 you’ll earn 2.01%* interest on your savings balance up to your threshold amount (i.e. the highest savings balance you had from January to June 2024). This amount will also determine your threshold. Any money you add after July 1, 2024 that is over and above this threshold will earn a bonus interest (currently 3.36%*).
The more you save, the more you'll benefit from our 3.36%* interest rate.
Example 1:
- Between January and June 2024, your highest savings balance was €5,000. You'll earn 2.01%* on funds up to €5,000 until the end of December 2024. This equals €100.5 annually in earned interest.
Interest is calculated daily and paid out weekly. Daily interest is €100.5 / 366 (leap year days) = €0.27459. Weekly interest is 7 x €0.27459 = €1.92.
- In July, you add an extra €2,000 to your savings (Now in total €7,000). This extra €2,000 earns 3.36%* interest. Keeping the extra €2,000 until December earns you €33.60 semi-annually in interest.
This bonus interest is also calculated daily and paid out weekly. Daily bonus interest is €67.20 / 366 = €0.18361. Weekly bonus interest is 7 x €0.18361 = €1.29.
In total, you'll earn €1.92 in regular interest + €1.29 in bonus interest = €3.21 weekly interest.
*The base rate and the bonus rate may be subject to change before December 31, 2024.
Example 2
Between January 1, 2024 and June 30, 2024, your highest savings balance was €10,000. Your threshold is therefore €10,000.
If you took out €9,500 from your savings account, before 30 June 2024 so that only €500 remained, the threshold as per 1 July 2024 is still EUR €10,000
If you add EUR €9,500 on July 2, 2024, making a total savings of €10,000, you only receive the base rate of 2.01%* interest (because the threshold is still €10,000). Only for amounts added on or after 1 July that make a total savings amount over €10,000, would you receive the bonus interest rate of 3.36%*.
The rest of the MassInterest terms remain the same:
- Your interest will be paid out in weekly installments, so you can watch your savings grow faster each and every week!
- You’ll get interest on deposits up to €100,000. For deposits over €100,000, no interest is earned.
- All interest rates are annual (variable) and nominal rates
- All your savings are 100% protected up to €100,000 per person by the Dutch Deposit Guarantee Scheme. Therefore, if you share a Joint (Savings) Account at bunq, the protection extends up to €200,000 in total.
- There are no fees for withdrawing from your savings account.
- You can make a maximum of 2 instant withdrawals per month from your Personal Savings Account(s). Learn more about this limit here 🙌
- Regular Terms & Conditions apply to the new MassInterest rate.
How can I create a bunq account?
Simply download the bunq app from the App Store / Google Store and sign up in just 5 minutes! Want to learn more about how you can get your savings account up and running in just minutes and what you need to get started? Check out these topics:
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