January 21, 2021

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Crisis or not: mountain of savings, money continues to grow

Crisis or not: mountain of savings, money continues to grow

This is evident from the numbers for November 2020, which De Nederlandsche Bank (DNB) announced on Wednesday.

Every month is a new record. In November all Dutch people together had € 390.773 billion (more than 390 billion!) In their savings account. This includes both regular savings accounts and deposits.

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Full money box

According to the National Statistical Office, at the end of November the Netherlands had 17,474,677 inhabitants. This means they had, on average, no less than € 22,362 in their piggy bank. Since many Dutch could not or did not want to go on vacation this year, a large part of the vacation money in the bank remained unused.

All the money brings next to nothing. In November 2020, all Dutch people together received only 38 million euros in interest: an average of 2 euros per person.

In January 2012, all banks paid the highest amount of savings interest: Then we were all allowed to share 3,624 million euros: With the 16,730,348 inhabitants at the time, that was an average of more than 216 euros per person.