Advantages and disadvantages of saving acount in a bank.

What is SAZ saving?

What is SAZ saving?

Please note: BNT GADE stopped offering the SAZ Savings account as of 1 September 2014. You can therefore no longer close this product. In the article below you can read how the bill worked exactly and what conditions applied.

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Numerous savings products are offered in the Netherlands. A saver can, for example, transfer his money to a green savings account, savings deposit or an internet savings account. SAZ savings product is SAZ saving. Until September 2014, this product was only offered to private savers by BNT GADE. Bey Calde bank does have an Index Performance Deposit where your interest income depends on performance of the SAZ, but this is a private banking product and therefore only accessible to very wealthy savers.

SAZ saving is a combination of saving and investing. This saving variant is also referred to as index saving. How much interest you receive on your savings depends on the state of the SAZ index. The abbreviation SAZ stands for Amsterdam Exchange Index. The index consists of the 25 most traded funds on the Amsterdam stock exchange. View here which companies are currently listed on the SAZ index.

SAZ savings account – how does it work?

SAZ savings account - how does it work?

An SAZ savings account has a number of similarities with a savings deposit. If you choose this type of savings, your savings are fixed at the bank for six months. You cannot freely dispose of your money during these months. Do you unexpectedly need the savings? The bank will then charge a penalty for this.

An SAZ account has a minimum and maximum interest payment. With a maximum SAZ savings rate of 5 percent *, the index must rise by at least 5 percent in order to receive this interest payment. If the index shows only a limited increase, the interest payment will be paid proportionally. Has the SAZ increased by three percent? Then you receive 3 percent * interest on your savings. Does the SAZ decrease in value? Then the bank does not have to pay interest, but you also do not lose money. The value of your savings is guaranteed with SAZ saving.

When is SAZ saving wise?

When is SAZ saving wise?

When it is wise to open an SAZ savings account, it is hard to say. If you think that the value of the index will increase in the coming period, it may be wise to put your savings on an SAZ account. The maximum interest payment on an SAZ savings account is higher than the interest payment on a normal savings account or savings deposit. An advantage of saving SAZ compared to investing is that you always get your investment back from the bank. In addition, the savings product falls under the deposit guarantee scheme.

Returns from the past

Returns from the past

Results from the past of course offer no guarantee for the future. Do you want to start saving with SAZ? Then it might still be interesting to view yields from the past. On the BNT GADE website you will find an overview of the interest paid.

Advantages and disadvantages – SAZ savings account

Advantages and disadvantages - SAZ savings account

SAZ saving has a number of advantages and disadvantages that you should take into account as a saver. The interest rate depends on the whims of the stock market. Just as with investing, the return is therefore not guaranteed. With SAZ saving you always get your stake back.

* Note: because the interest is paid every six months. If the maximum interest payment on an annual basis is 5 percent, you will therefore receive a maximum interest of 2.5 percent after six months. The aforementioned interest rates are also fictional.

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