Figures published earlier this week show that at the end of December 2024, there was a total of 277.6 billion euro on Belgian savings accounts. This is the highest amount since the Belgian state was able to lure savers away from the banks with a bonds’ launch that offered a much higher return than a savings account in the summer of 2023.
22 billion euro was invested in the bonds issue, most of which came from savings accounts. Prior to the bonds issue in summer of 2023, there was 297 billion euro parked on Belgian savings accounts. The launch of a government bond with a reduced rate of withholding tax raided 22 billion euro, an all-time record.
This only partially returned to savings accounts once the one-year-bond matured. Some savers reinvested their cash in investment funds, a new bonds issue, investment insurance, etc.
In December 2024 the amount on savings accounts had risen to 277.6 billion euro. Traditionally in December a lot of people put more money aside than in other months as they have received their end of year bonus.