We calculate the compensation amount for each mortgage fully automatically. Your compensation is calculated in 3 steps.
1. First, we calculate the interest you paid:
We look up which interest rate you had.
We calculate how much interest you paid
Using the interest you paid and your interest rate, we calculate your average outstanding balance per month.
2. We calculate what you could have expected to pay:
We determine what your interest rate should have been if your rate had followed the DNB rate for variable residential mortgages from the start
Using your adjusted average outstanding balance and the expected interest rate, we calculate what you should actually have paid in interest.
We calculate what your average outstanding balance would have been if you had used the excess interest you paid to reduce your outstanding balance. This allows us to take into account the “interest‑on‑interest effect.” If you had paid less interest, you would have made more repayments, lowering your outstanding balance. The following month, you would have owed less interest—and vice versa.
3. We calculate your compensation amount:
From the start of your mortgage until 31 October 2022 (or until the termination date if it ended earlier), we calculate the difference for each month between what you paid and what you should have paid. This difference may be positive or negative. We then add up and offset these monthly differences.
In addition, we reimburse statutory interest from 1 January 2022 through 30 June 2026. If your contract ended before 30 June 2026, we reimburse statutory interest from the moment your adjusted average outstanding balance reached €0
The total difference plus the statutory interest is your compensation amount.
"}},{"componentType":"sectionTitle","title":"Good to know"},{"componentType":"paragraph","richBody":{"value":"What is the statutory interest rate?
The statutory interest rate is set by the government and has been 4% since 1 January 2026. From 1 January 2025 through 31 December 2025 it was 6%.
From 1 January 2024 through 31 December 2024 it was 7%. From 1 July 2023 through 31 December 2023 it was 6%. From 1 January 2023 through 30 June 2023 it was 4%, and before that it was 2% for a long period.
Why does ING calculate the difference until 31 October 2022?
In October 2022 you received a letter from us confirming that, for determining the variable interest rate on your Credit Mortgage, we refer to the 1‑month Euribor rate. Euribor is an external reference interest rate. More information can be found at ing.nl/euribor.
Why does ING only calculate statutory interest between 1 April 2021 and 30 June 2026?
ING applies statutory interest from the moment of the first Kifid ruling.
We will pay all compensations no later than 31 May 2026, so the end date for statutory interest has been aligned with the end of the quarter in which this date falls.
Translation
The English text of the website is a translation of the Dutch original version. This translation is intended for the customers convenience only. In case of any discrepancies between the two versions, the original Dutch version shall prevail. The mortgage offer and contract will be signed in Dutch. Also, all further communication after signing the mortgage contract will be in Dutch. You acknowledge and accept this. If any assistance or clarification is needed, we recommend contacting your mortgage advisor or to call our customer service via the ING app.
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