As a customer, you may expect the variable interest rate to move in line with the market rate. This was the ruling made by Kifid (Financial Services Complaints Institute) in 2020 for other financial service providers. This ruling led us to investigate how this worked at ING. Our review showed that our interest rates also did not always move sufficiently with the market rate. We are correcting this by offering compensation to customers who paid too much interest.
From April 2025, ING expands its compensation scheme
We are expanding the variable‑interest compensation scheme and will now also reimburse overpaid variable interest below €50. This decision follows rulings issued by Kifid’s Disputes Committee on 4 November 2024, which concerned other financial service providers. The Disputes Committee sees no reason to maintain a minimum compensation amount. We take Kifid’s rulings into account in our considerations. As a result, the €50 threshold will be removed. Customers affected by this will receive the compensation in their payment account by the end of 2025 at the latest.
You can find more information about the compensation scheme on this page. Keep an eye on this page for the most recent updates.
"},"textLinks":[{"url":"/en/personal/loans/compensation-variable-interest/compensation-amount","text":"Read here how we calculate the compensation"}]},{"componentType":"paragraph","title":"When will you receive a message?","richBody":{"value":"We will compensate multiple products.
Product | Compensation above €50 sending proposals | Compensation below €50 payment |
Doorlopend Krediet | Completed | April 2025 – March 2026 |
Creditcard met gespreid betalen | Completed | April 2025 – March 2026 |
Roodstand producten | Almost completed* | April 2025 – March 2026 |
| Continu Limiet | Almost completed** | April 2025 – March 2026 |
Rekening Courant Krediet issued to consumers | Started October 2025 | Start December 2025 |
Status update November 2025
* The compensation proposals for overdraft products are fully completed except for the products Continuous Limit for former students and Student Payment Limit. These compensation proposals will be sent no later than the end of 2025.
** The final compensation proposals are currently being prepared and sent.
Former ING customers
Are you a former ING customer with one of the products listed above?
Then you can register to find out whether you are eligible for compensation. From the moment you register with the required documents, we will do our best to let you know within 60 days whether you qualify.
See ing.nl/formercustomers for how to register .
Heirs
Are you the heir of a former ING customer who had one of the products listed above?
Then you can register to find out whether you are eligible for compensation.
From the moment you register with the required documents, we will do our best to let you know within 60 days whether you qualify. More information can be found at ing.nl/compensation-heirs.
Below you can find the frequently asked questions. Is your question not listed or do you need help? Check our service and contact page for the available support. You can reach us on working days from 8:30 to 17:00.
"}},{"componentType":"paragraph","title":"Compensation scheme","richBody":{"value":""}},{"componentType":"accordion","accordionList":[{"title":"I haven’t heard anything yet. When will I receive a message?","richBody":{"value":"Are you an ING customer?
On the compensation page for your product, you can read when you can log in or contact us to check whether you will receive compensation. You can also find out when to expect a compensation proposal. If the compensation amount for a contract is €50 or more, you will receive a compensation proposal for that contract, which must be signed. For compensation amounts below €50, no signature is needed. This amount will be paid directly to the account number we have on record.
Do you have or did you have multiple contracts? Then you may receive messages at different times.
Is your compensation amount below €0? Then you are not eligible for compensation. You also do not need to pay anything back. If you are not eligible, you will not receive a message.
Are you a former ING customer?
Are you a former ING customer? Then read more about the compensation scheme for former ING customers at ing.nl/formercustomer.
"}},{"title":"What is the agreement with the Dutch Consumers’ Association (Consumentenbond) about the compensation scheme?","richBody":{"value":"For the development of the compensation scheme, we consulted with the Dutch Consumers’ Association (Consumentenbond). We reached agreement on the approach and the calculation of the compensation.
"}},{"title":"Which products are eligible?","richBody":{"value":"Doorlopende kredieten
Roodstand producten
Creditcards
No, this compensation only applies to variable interest rates set by ING itself on consumer loans. The Personal Loan has a fixed interest rate, and different rules apply to business loans. There are mortgages with a variable interest rate, but they use Euribor as a benchmark. These are therefore also not eligible for compensation.
"}},{"title":"Why do you calculate compensation starting from 1 January 2001?","richBody":{"value":"We apply the legal limitation period of 20 years. We have extended this period slightly to 1 January 2001. This means that we calculate compensation from the start of your contract or from 1 January 2001.
"}}]},{"componentType":"paragraph","title":"Compensation amount","richBody":{"value":""}},{"componentType":"accordion","accordionList":[{"title":"Why did ING initially choose to apply a €50 threshold?","richBody":{"value":"Earlier, we decided that €50 was a reasonable threshold for paying out compensation. We believed that below this amount, the interest you paid had followed the market rate sufficiently.
We have now decided to also reimburse overpaid variable interest below the €50 threshold. This decision follows rulings by Kifid’s Disputes Committee on 4 November 2024, which related to other financial service providers. The Disputes Committee sees no reason to maintain a minimum compensation amount. In our compensation scheme, a €50 threshold had also been used for paying out overpaid interest. We take Kifid’s rulings into account in our considerations. As a result, the €50 threshold will be removed.
"}},{"title":"What if your compensation is more than €50?","richBody":{"value":"For compensation amounts of €50 or more, you will receive a compensation proposal. If you accept this proposal, you essentially close the case once and for all. You and ING grant each other final settlement. This means you cannot submit any further complaints about this topic (variable interest) or about the amount of compensation you received. Not to ING, and not to Kifid or the courts. This is what we call final settlement.
"}},{"title":"What if your compensation is more than €0 but less than €50?","richBody":{"value":"If the compensation amount is more than €0 but less than €50, you will not receive a proposal to sign. Instead, we will pay the amount directly to the payment account we have on record.
"}},{"title":"My compensation amount was below €50 but is now (for example due to a recalculation) above €50. Why do I need to sign a Settlement Agreement?","richBody":{"value":"If the compensation amount turns out to be €50 or more for example, if your documents show that the amount is higher, or if your compensation was originally below €50 but has now increased above €50 due to legal interest then we will first conclude a Settlement Agreement before paying out the amount. From this level onwards, we consider it proportionate and important for both parties to formally close the dispute.
"}},{"title":"My compensation amount is less than €50 why am I not receiving a Settlement Agreement?","richBody":{"value":"For reasons of efficiency and cost, we chose not to have customers with compensation amounts below €50 sign a Settlement Agreement. Instead, the amount is paid directly to the payment account we have on record. You will automatically receive a notification of this. This process is simpler and faster, so your compensation can be handled as quickly as possible.
"}},{"title":"Why is the amount I received different from the amount shown in my calculation (in Mijn ING)?","richBody":{"value":"The amount shown in your compensation calculation is lower than the amount we will transfer. This is because you are entitled to additional legal interest. You are entitled to this extra legal interest because we are paying out the compensation later than the moment the calculation was made.
"}},{"title":"I have the loan together with someone else who receives the compensation?","richBody":{"value":"If you have or had the loan together with someone else, you will both receive half of the compensation. If the compensation amount is €50 or more, you will each receive your own compensation proposal, which you must sign. Once you have approved our proposal, we will transfer your part of the compensation within 30 days to the account number you selected. It does not matter whether the co‑contractor approves their own proposal or not
"}},{"title":"Can I receive the full compensation amount, including the share of the co‑contractor?","richBody":{"value":"If you have or had the loan together with someone else, you will each receive your own proposal for half of the compensation. Any arrangements about how you want to divide the compensation between yourselves are up to you and the co‑contractor. For this reason, we unfortunately cannot transfer the full compensation amount to you.
"}},{"title":"When will I receive the compensation amount?","richBody":{"value":"Existing ING customers:
If your compensation amount is €50 or more, we will transfer the compensation within 30 days after you have approved our proposal (Settlement Agreement) to the account number you selected.
If your compensation amount is less than €50, you don’t need to do anything. You will automatically receive the compensation in your payment account by the end of 2025 at the latest.
Former customers & heirs:
Are you a former ING customer or the heir of a former ING customer? Then you must first register to find out whether you are eligible for compensation. From the moment you register with the required documents, we will do our best to inform you within 60 days whether you qualify. The website pages explain how you can register.
Note: this applies to all compensation amounts. Even if the compensation amount is below €50, you must register first.
"}},{"title":"What can I do if I disagree with the compensation amount you are proposing?","richBody":{"value":"We calculate the compensation amount fully automatically and per contract, based on the information we have from you. If you do not agree with the compensation amount or if you want more information about submitting supporting documents, you can read what to do at ing.nl/documenten.
You can also send an email to compensatieregeling@ing.nl. Include your phone number and the contract number of your loan in the subject line of your email. You can find your contract number on your contract, your annual statement or next to the debit for your credit. A revolving credit contract number consists of 1 letter and 8 digits, for example A123‑45678. For a Continuous Limit, your contract number is the same as your account number.
"}},{"title":"Why do I need to provide documents in some cases?","richBody":{"value":"It may happen that we no longer have (part of) your information because the legal retention period has expired. This may include contract details or transaction data. If we no longer have all transaction data, we will try to determine whether you qualify for compensation by using averages and assumptions. If that is not possible, we may ask you to send us your contract or bank statements.
It may also be the case that we no longer have any of your information at all, which means we cannot contact you. If you believe you may be eligible for compensation, you can register via this page. We will then ask you to provide documents that allow us to investigate whether you qualify for compensation.
"}},{"title":"My compensation amount is negative. Does that mean I have to pay this to you?","richBody":{"value":"No, if the total compensation amount is negative, it means you actually paid interest. You do not have to pay this back to us.
"}}]},{"componentType":"paragraph","title":"Final settlement","richBody":{"value":""}},{"componentType":"accordion","accordionList":[{"title":"What is a final settlement?","richBody":{"value":"By agreeing to our compensation proposal, you essentially close the case once and for all. After that, you can no longer submit a complaint about this topic (variable interest) or about the amount of compensation you received. Not to ING, and not to Kifid or the courts. This is what we call final settlement.
"}},{"title":"Why are you asking for final settlement?","richBody":{"value":"If the compensation amount is €50 or more, we will conclude a Settlement Agreement together. From that amount onwards, we consider it proportionate and important for both parties to formally close the dispute. Once you agree to the agreement, it is binding for both you and ING. This way, we both have certainty about the compensation.
"}}]},{"componentType":"paragraph","title":"Other questions","richBody":{"value":""}},{"componentType":"accordion","accordionList":[{"title":"I don’t have email. Can I also send my Settlement Agreement by post?","richBody":{"value":"Yes, that’s possible. Email is of course faster and more environmentally friendly. If you still prefer to send it by post, then send all 4 pages of the Settlement Agreement — without a stamp — to:
ING Compensatie Variabele Rente
Antwoordnummer 40050
8900 SC Leeuwarden
Note: it is important that you write ING Compensatie Variabele Rente on the envelope.
"}},{"title":"What is the interest‑on‑interest effect (the Barabas method)?","richBody":{"value":"If you had paid less interest, you would have repaid more, which means your outstanding balance would have been lower. The following month, you would then have paid less interest. And the same works the other way around. We include this ‘interest‑on‑interest effect’ in the calculation.
"}},{"title":"What is meant by ‘variable interest rate’ here?","richBody":{"value":"This only concerns interest rates on consumer loans that ING sets itself based on the general terms and conditions. These interest rates can be adjusted during the term of your loan. Interest linked to a reference rate such as Euribor is not included. That is a so‑called ‘benchmark’, which is not determined by ING
"}},{"title":"How does it work if my credit limit changed during the term?","richBody":{"value":"We calculate the compensation per contract. If you increased your limit, these are considered 2 separate contracts. We therefore assess each contract individually to determine whether you receive compensation. If you lowered your limit, this is regarded as 1 contract.
If the compensation amount for a contract is more than €50, you will receive a compensation proposal for that contract, which must be signed. For compensation amounts below €50, no signature is required. This amount will be paid directly to the account number we have on record.
"}},{"title":"I am the heir of someone who had a revolving credit, a Credit Card with Instalment Payments and/or an overdraft product with ING. Am I eligible for compensation?","richBody":{"value":"We have started sending compensation proposals to the authorised person handling the estate. You can find more information at ing.nl/compensation-heirs.
"}},{"title":"I signed up with the Claim Service of the Consumers’ Association. They charge 10% of the compensation received. Will these costs be reimbursed?","richBody":{"value":"Yes, we reimburse the costs (10% of the compensation received) for customers who registered with the Consumers’ Association Claim Service before 21 December 2021. These costs will not be deducted from your compensation amount. You do not need to do anything. We will ensure the costs are paid directly to the Claim Service.
"}},{"title":"Does the compensation affect my tax return?","richBody":{"value":"If you deducted the interest you paid in your income tax return, then the compensation will affect your tax return. You must report the compensation amount in your income tax declaration. For more information, contact a tax advisor or the Dutch Tax Administration (Belastingdienst).
"}},{"title":"Where can I find more information about this topic?","richBody":{"value":"Keep an eye on this page for the most up‑to‑date news about the compensation scheme at ING. You can find more information about the Kifid rulings via the link below.
"},"textLinks":[{"url":"https://www.kifid.nl/kifid-consument-heeft-recht-op-rentecompensatie-over-gehele-looptijd-doorlopend-krediet/","text":"Click here for more information about the Kifid rulings"}]},{"title":"I received a message about my compensation. How do I know if I can trust it?","richBody":{"value":"If you’re unsure whether you can trust the message, be careful. Scammers send phishing messages that appear to come from a trusted sender, such as ING. These can be emails, but also text messages or WhatsApp messages. Phishing messages often contain a link. We will never send you a link to log in to Mijn ING directly.
Messages you receive in the ING App or via Mijn ING are trustworthy, because you receive them in your secure environment. Protect yourself and learn how to recognise phishing. Also read what to do if you receive a phishing message.
"}}]},{"componentType":"linkList","iconTitle":{"title":"Meer informatie"},"textLinks":[{"url":"/en/personal/loans/information-about-borrowing/how-a-loan-works","text":"Frequently asked questions about borrowing"},{"url":"/en/personal/loans/information-about-borrowing/borrowing-with-peace-of-mind","text":"More about worry‑free borrowing"}]}]}}}