Morgan Stanley has entered the Dutch savings market by offering term deposits through Raisin's international savings platform.
The deposits are provided through Morgan Stanley Europe SE, based in Germany, and can be opened from EUR 1.000. Deposits of up to EUR 100.000 per saver are covered by the German statutory deposit guarantee scheme.
The three-month fixed-term deposit carries an interest rate of 2.50% p.a., a rate described as competitive for this term in the Dutch market. Rates rise to 2.95% p.a. for deposits fixed for one or two years.
Trends in the Dutch savings market
Morgan Stanley's entry reflects two developments observed among Dutch savers. According to figures published by the European Central Bank (ECB), the volume of bank deposits held by Dutch households elsewhere in the eurozone grew by 14.2% over one year, reaching EUR 22.4 billion, and by 339.3% over the past five years.
Separately, data from the Dutch Central Bank (DNB) show that the volume of savings held in term deposits at Dutch banks increased by more than 50% over five years. During this period, savers received on average more than twice the interest on term deposits (2.13%) compared with freely withdrawable savings accounts (0.93% p.a.). Top interest rates on one- and two-year fixed-term deposits have risen by about half a percentage point since the start of this year.
Strategic positioning
Eelco Habets, head of Raisin in the Netherlands, said Morgan Stanley's participation on the platform gives Dutch savers access to an international financial institution, with rates that are, in some cases, more than a percentage point higher than those offered by major Dutch banks.
Peter Krowinkel, head of Morgan Stanley in the Netherlands, said the company has operated in the Dutch market for almost 30 years and that the new offering, made available through its partnership with Raisin, extends this presence into retail term deposits.
Raisin operates as a platform connecting savers across Europe with banks offering deposit products, allowing consumers to access savings and investment options beyond their domestic banking market. Morgan Stanley has not previously offered retail deposit products directly to consumers in the Netherlands.
