What is saving
Saving means putting money aside for later. When you (temporarily) not need a certain amount of money, you can lend or invest this amount to achieve a certain return with the money. In this respect, you have to make a trade-off between return and risk. The higher the return you wish to achieve, the higher the risk you should take.
You choose to save when you cannot miss the money for long and / or when you want to run little or no risk on the money. When saving often applies that the return is higher the longer the money can be missed. Below we describe the most common types of savings.
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Basic savings options:
Freely withdrawable savings account:
By a freely withdrawable savings account we mean a savings account where you can always access your money easily, quickly and free of charge. This applies, for example, to internet savings. With this form you have to manage the account yourself via the internet. This form of saving offers a lot of flexibility and the interest is often almost the same as the other - less flexible - forms of savings.
More information about freely withdrawable savings account .
Not freely withdrawable savings account:
Many savings accounts have restrictions on the availability of the balance in your savings account. This includes fines for the interim withdrawal of the balance (or a reduction in the interest payment). When you always need to have your money available, this form of saving is less interesting for you.
more information about the non-freely withdrawable savings account .
With a deposit, you agree in advance the period that you will give up your savings. At the end of the term you will receive your deposited money and the agreed savings allowance back. You cannot get your money in the meantime. The interest on a deposit is often higher than with ordinary savings and usually increases as the term increases.
More information about deposit savings .
Special savings options:
We speak of green savings when your savings are invested in environmentally friendly projects. In some cases you are eligible for tax benefits as a saver.
More information about saving green .
We speak of sustainable savings when your savings are invested in sustainable projects. In some cases you are eligible for tax benefits as a saver.
More information about sustainable savings .
Savings insurance is a combination of savings and insurance. You pay a premium now to receive benefits or benefits later, on a predetermined end date. This way you can save for a supplement to your pension, but also for a trip around the world or a holiday home. Given the costs involved in savings insurance, this form of savings is almost only interesting if you opt for a savings insurance policy with a long term and an interest payment that is much higher than with a normal deposit account.
More information about savings insurance .
With a Savings Ltd you place your (large) assets in a Ltd - this can be particularly advantageous in tax terms compared to a savings account. This is because the taxation of capital in a Ltd. works very differently than it does of private capital.
More information about the Spaar Ltd.
Savings forms canceled:
Saving for life:
From 1 January 2006, employees could save in the life-course savings scheme. With the life-course savings scheme, part of the gross salary could be saved to finance a period of unpaid leave in the future. All employees working in New York could use the life-course savings scheme. The life-course savings scheme was abolished on 1 January 2012. There is a transitional arrangement that runs until January 1, 2022.
Salary savings scheme:
Salary savings were a form of corporate savings. You had to be employed by an employer to participate. Part of the gross salary was deposited into a blocked savings account. No tax or social security contributions were paid on this amount. The savings were not available for a period of a number of years. During this period, the saved amount remained in a blocked bank account and interest was received on the money. After the blocked period, the amount was released and the money was freely available. The salary savings scheme has also been abolished since 1 January 2012.