Competing for savings: how important is creditworthiness during the crisis?

J.A. Bikker, D.F. Gerritsen, Steffie M. Schwillens

    Research output: Working paperAcademic


    Interest rates on savings products vary not only across banks, but also across the accounts of individual banks. Building on a unique dataset covering the 2003-2014 period, our results show that time deposit rates reflect more closely the economic environment than bank interest rates on savings accounts do. At bank level, interest rates are significantly negatively related to creditworthiness, especially since the onset of the global financial crisis. With regard to account-specific features, we find that maturity-increasing conditions (i.e., withdrawal fees for savings accounts and product maturity for time deposits) positively influence a product’s interest rate.
    Original languageEnglish
    PublisherUU USE Tjalling C. Koopmans Research Institute
    Number of pages48
    Publication statusPublished - 2016

    Publication series

    NameU.S.E. Discussion paper series
    ISSN (Electronic)2666-8238


    • time deposits
    • savings accounts
    • interest rate setting
    • creditworthiness
    • liquidity
    • account characteristics


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