You can of course save as much as you want. There are no limits within which you must stay if you save. A number of rules do apply if you save a lot. For example, you have to pay tax on your savings or your rent allowance will lapse. In this article you can read all about how much money you can have and which rules apply if you have a lot of savings.

How much savings are tax-free?


Savings fall in the box 3 tax, just like investments, a second home and debts. You calculate your total assets in this box by adding up your assets and subtracting your debts from this. Everyone is subject to a tax-free limit of 30,360 euros, or 60,720 euros if you have a tax partner. You can therefore save tax-free up to this limit, unless you have other forms of capital.

Tip! Do you have a lot of savings? Then you can consider depositing part of your savings on a deposit. For example, you may not withdraw the money for 5 years, but in return you will receive a fixed interest. With a long term, this is higher than the interest on a regular savings account. This way you get the best return on your savings.

How much savings can you have? – Deposit guarantee system


All banks listed in the interest overviews on Philip Carey fall under the deposit guarantee scheme of the Netherlands or another European country. All these systems reimburse a maximum of 100,000 euros of your savings if a bank goes bankrupt. A maximum reimbursement of 200,000 euros applies to joint savings accounts. But keep in mind that the balance on all your accounts with this bank is added together and that the fee applies per banking license. ABN AMRO and MoneYou, for example, share a banking license.

Tip! You can spread your savings over several banks if you want to be sure that all your money falls under the reimbursement from the deposit guarantee scheme.

How much money can you have on your checking account?

How much money can you have on your checking account?

Banks usually do not set a limit on the balance on your savings account or checking account, but they do use a maximum interest-bearing balance. That means that you no longer receive interest on the amount that is above this limit. This limit, for example, is 100,000 euros, but can also be 5,000,000 euros.

For children’s accounts, banks often apply a limit for the balance. Sometimes this limit is already at 20,000 euros. So if you are going to compare savings accounts for children, then look not only at the savings rate but also at the conditions. If you want to save a lot, you sometimes have to open a savings account with several banks.