As a reminder, in September 2023, the state bond issued by the Federal Debt Agency and with a net yield of 2.81% had aroused great enthusiasm among Belgians. This return, much higher than what savings accounts offered at the time, made it possible to collect 22 billion euros. To remain competitive, some banks have offered term accounts offering similar returns.
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Can these new government bonds trigger new investor hysteria?
But it was especially when this state bond expired last September that the banks geared up to repatriate this money that they had seen going to the Federal Debt Agency. Despite the downward trend shown by interest rates, banks offered very attractive returns in September (up to almost 4% gross over one year) on term accounts and savings certificates. Due in particular to competition between banks, these returns were significantly higher than what the new state bond would bring (2.75% gross over one year).
Since then, the rates on term accounts can these new government bonds trigger new investor hysteria? and savings accounts are falling. So, this should not be the case because there are term accounts with higher yields, such as Izola (3.25%), Aion Bank (2.80%), NIBC or MeDirect (2.60%), Santander (2.50%) and many other players who offer at least 2.20% over 1 year. Over 8 years, there are also term accounts which already offer a gross return of 2.80%. These new government bonds are therefore not capable of disrupting the market, even if they retain their followers. The State bond issued on September 16 only raised 403 million euros.
