Interest information

Overview of interest rates
Listed below are the current LeasePlan interest rates per product.

What is nominal interest?
The interest rates on this website are nominal on an annual basis. Nominal means the following. Let's assume that each month you withdraw the interest that you have received from us from your savings account. The nominal interest is the payment that you have received by the end of the year. But if you leave the interest you receive each month in your account, then you receive interest on these amounts as well. Thanks to the compound interest effect, your effective interest on an annual basis is higher than the nominal interest.

How is the interest rate determined?
LeasePlan Bank applies two types of interest: variable interest and fixed interest. The variable interest is applicable to the internet savings account. The interest rate can go up or down. The fixed interest rate applies to term deposits. With a term deposit, the interest rate stays the same during the period agreed with you. This period is called the term. You cannot withdraw your money during this period. You can only do this at the end of the term. There are exceptions. You can read about these in our product terms and conditions.

How is the variable interest for my internet savings account determined?
LeasePlan Bank uses a fair and transparent method for determining the variable interest from your internet savings account. We set the variable interest rate on the basis of the 1-month Euribor®. This is an important interest rate on the money market. If the 1-month Euribor® increases, your savings interest rate goes up. If the 1-month Euribor® decreases, your savings interest rate goes down. Moreover, you receive a fixed spread from us over and above the Euribor® interest rate. In other words, the level of your variable savings interest rate is determined by the 1-month Euribor® plus this fixed spread. We set the spread each quarter. LeasePlan Bank informs you by e-mail if the spread changes. There may be reasons to adjust the spread in the interim. Examples include:

• a strong increase or decrease of the Euribor® rate,
• a serious disruption of the financial markets, which results in sudden extreme changes to the savings interest rate, and
• major price movements of competitors.

You can follow the 1-month Euribor® on the internet. LeasePlan Bank uses the last-but-one working day of the month as the reference date for the 1-month Euribor®. This method of determining the variable interest rate means that you can be sure that the interest rate does not get stuck at a low level, but keeps moving with the market. As a result, we can always offer you an attractive interest rate.

How often is the variable interest for my internet savings account adjusted?
We adjust the variable interest rate of your internet savings monthly. We do this on the basis of the 1-month Euribor®. If the interest rate on the money market increases or decreases, we adjust this on the first working day of the next month. This means that the variable interest rate is really variable, and you know exactly what you are getting. We notify you about the interest rate by e-mail each month.

When is the interest added to my internet savings account?
LeasePlan Bank transfers the interest to your internet savings account on the first day of each month.

How is the fixed interest rate for my term deposit determined?
We determine the fixed interest rate using a different method to that for the variable interest rate. The interest rate for a term deposit is determined on the basis of developments on the money and capital markets. The fixed interest rate for a term deposit is known to you before you take out a term deposit, and remains the same during the entire duration of the term deposit.

How often is the fixed interest for my term deposit adjusted?
The interest rate for a term deposit is not adjusted in accordance with a fixed monthly structure, but periodically on the basis of developments on the money and capital markets.

How do I receive the interest of my term deposit?
Do you have a term deposit of one year or less? For these, we deposit the interest into your internet savings account at LeasePlan Bank at the end of the term. In the case of term deposits with the duration longer than one year, the interest is added to the term deposit at the start of each calendar year, and finally at the end of the term.

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