WILLEMSTAD - Maduro & Curiel's Bank (MCB) will lower interest rates on savings accounts from March 1. Interest is paid out at 0.25 percent on personal savings and interest from 0.5 on company savings accounts.
The deposits at the MCB Group continue to increase every year. This is a reason for the management to thank for their confidence in the bank. The bank reports that the interest rate cut is partly the result of economic and financial developments in their markets. In addition, excess liquidity, low interest rates and higher costs are mentioned as factors. “We must take appropriate measures. The reduction in the interest on savings to be paid is a halving of the current rate," said MCB.
At the end of 2020, the MCB had issued almost 4.3 billion guilders in loans. The interest rates on these loans range from four to thirteen percent.
It is still unknown whether other commercial banks will apply lower interest rates on savings.