What's the European Central Bank (ECB) and how does it affect my savings?

The European Central Bank recently raised interest rates, which means more money in your pocket. With bunq's Easy Savings account, you can earn a high interest.

February 14, 2023

Introduction

The world of finance can be overwhelming, but the recent interest rate hike by the European Central Bank (ECB) could mean more money in your pocket! 💰 Whether you're new to savings accounts or a seasoned saver, understanding how interest rates affect your finances is crucial. In this blog, we'll explain what the ECB is, what the interest rate hike means, and how you can take advantage of the higher rates with bunq's Easy Savings account.

What is the ECB and why does it matter?

The ECB is the central bank responsible for overseeing monetary policy in the European Union (EU). This means it sets interest rates for the entire EU, affecting all member countries, including the Netherlands where bunq is based. As a saver, it's important to understand the ECB's interest rate decisions because they have a direct impact on your savings account.

What does the interest rate hike mean for your savings account?

The interest rate hike announced by the ECB means that the cost of borrowing money just went up. This is typically a sign of a strong economy, as the ECB aims to keep inflation in check. For savers, this could mean more money in your pocket! When interest rates go up, banks usually increase the interest they pay on savings accounts. So, if you have a savings account, you could earn more money just by keeping your money in the bank.

How can you maximize your savings with bunq's Easy Savings account?

At bunq, we understand the importance of maximizing your savings, which is why we offer the bunq Easy Savings account. With bunq Easy Savings, you can earn a high-interest rate on your savings, helping you reach your financial goals faster. 🚀 Here's how bunq Easy Savings is different from traditional savings accounts:

  • High-interest rate: With bunq Easy Savings, you'll earn a higher interest rate compared to traditional savings accounts. The more you save, the more you earn, so you can reach your financial goals sooner!

  • Easy to use: With the bunq app, you can easily manage your savings account, transfer money, and see your interest earnings all in one place.

  • Safe and secure: Your money is insured up to €100,000, so you can feel confident that your savings are protected.

  • No hidden fees: With bunq, you'll never pay hidden fees or charges. You can save your money with peace of mind knowing that every cent is working for you.

Conclusion

In conclusion, the interest rate hike announced by the ECB is great news for savers. By choosing a high-interest savings account like bunq Easy Savings, you can take advantage of the higher rates and reach your financial goals sooner. Whether you're new to savings accounts or a seasoned saver, bunq's Easy Savings account is the perfect way to maximize your savings and achieve your financial goals. 💰

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Easy Card

Free

Get a free international credit card in less than 5 minutes. Add it to Apple/Google Pay and start making payments today.

Easy Savings

Free

Get a free Savings Account and start growing your money faster with 2.46% interest. No minimum deposit is required!

Easy Bank

€3.99/month

Everything you expect from a mobile bank, and more. Open a bank account in just 5 minutes with your phone and ID.

Easy Bank Pro

€9.99/month

Enjoy full control over your money wherever you go, with true borderless banking, easy budgeting, powerful cards, and much more.

Easy Bank Pro XL

€18.99/month

Discover the full power of mobile banking, with worldwide Travel Insurance, priority support and more trees planted when using your card.

Find your perfect fit

Easy Card

Free

Get a free international credit card in less than 5 minutes. Add it to Apple/Google Pay and start making payments today.

Easy Savings

Free

Get a free Savings Account and start growing your money faster with 2.46% interest. No minimum deposit is required!

Easy Bank

€3.99/month

Everything you expect from a mobile bank, and more. Open a bank account in just 5 minutes with your phone and ID.

Easy Bank Pro

€9.99/month

Enjoy full control over your money wherever you go, with true borderless banking, easy budgeting, powerful cards, and much more.

Easy Bank Pro XL

€18.99/month

Discover the full power of mobile banking, with worldwide Travel Insurance, priority support and more trees planted when using your card.

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Start your 30-day free trial

Open your account in just 5 minutes, directly from your phone.

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