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Savings accounts

Save for a car, a house, or a rainy day? With a savings account you can easily build up a cash reserve.

What is a savings account?

A savings account is a type of bank account in which you keep money that you do not need immediately. In return you receive interest: a basic rate of interest for each day that the money stays in your account, and a loyalty premium for each twelve months. You can make deposits and withdrawals at any time. It costs nothing to open a savings account with BNP Paribas Fortis.

What?

Regulated savings accounts marketed by BNP Paribas Fortis, under Belgian law. These accounts are products of indefinite duration.

For what purpose?

And for how long?

Interest rates

You receive a loyalty premium on amounts kept in the account for twelve consecutive months (gross annual percentages).

Maximum amount

per calendar year

Read more

about the details of these accounts.

Important documents

Read these documents with essential information on opening a savings account.

Savings Account

Save easily

Classic Savings Account for natural persons

An easy way for you to build up a cash reserve.

  • 0.01% basic interest rate
  • 0.10% loyalty premium

No maximum amount.

Star Savings Account

For minors and their parents

Our standard Savings Account for minors

Saving for the medium term, for example, for a large purchase within one to three years.

  • 0.01% basic interest rate
  • 0.55% loyalty premium

Maximum EUR 9,000 per calendar year.

Home Purchase Savings Account

For young adults from 18 years old

Ideal for young adults

Saving for the longer term for a home, alterations, or another major project.

  • 0.01% basic interest rate
  • 0.55% loyalty premium

Maximum EUR 6,000 per calendar year.

Hello4You Savings Account

For young adults

The Youngster Savings Account has a good basic interest rate. From 18 to 27 years old.

Saving for an unspecified, mostly shorter, period.

  • 0.50% basic interest rate
  • 0.20% loyalty premium

Maximum EUR 6,000 per calendar year.

Open and manage easily

Opening or terminating a savings account is free of charge. There are also no management fees or monthly contributions. We do charge you for potential postage costs.

A fee of EUR 2.50 is imposed on accounts with a balance of less than EUR 25, with no transactions for ten years and where the holder is at least 24 years old and does not hold any other account with BNP Paribas Fortis.

Taxation

As a natural person, you do not pay tax on interest paid on savings accounts, up to a certain amount.

In 2017, the tax exemption for interest is limited to EUR 1,880 per person per year. What if you receive more interest than the exempt amount? Then you pay 15% tax (withholding tax) on the part that is not exempt.

Save automatically

With an automatic savings plan you automatically save a fixed amount at regular intervals. All you need to do is to decide when money is to be transferred from your current account to your savings account (for example, on the 5th of every month) and set up a standing order. This way, you do not forget to save.

Request an automatic savings plan

More about your interest

Your interest rates are expressed in gross annual percentages. They may fluctuate depending on market conditions. We report any change to you on your next account statement. A savings account can never be negative, so you can never be charged interest.

What is the significance of the basic interest rate?

You receive the basic interest rate for any amount that you deposit in your savings account. Your deposit accrues interest for each day that it is in your account (at the latest from the calendar day following the deposit). You receive the basic interest annually on 1 January (or upon termination of your account). The basic interest rate is not guaranteed. It can fluctuate depending on market conditions.

What is the significance of the loyalty premium?

You receive the loyalty premium for every deposit that remains in your savings account for twelve consecutive months. The loyalty premium also earns interest at the basic rate. You receive loyalty premiums on the first day after the quarter in which the premium has been earned (on 1 January, 1 April, 1 July, 1 October or upon termination of the account). The loyalty premium can fluctuate, but is guaranteed for the twelve-month period following the deposit. What does this mean? Suppose you deposit EUR 100 in your savings account on 30 March 2017. Then, twelve months later, on 1 April 2018, you would receive the loyalty premium on the EUR 100 based on the 30 March 2017 rate. It makes no difference if the loyalty premium has changed in the meantime.

Pay no tax on the first EUR 1,880 of interest.

Taxation

As a natural person, you do not pay tax on interest paid on savings accounts, up to a certain amount. In 2016, the tax exemption for interest applies up to EUR 1,880 per person per year. For a savings account in the name of a married couple or civil union, the exemption applies to twice this amount (EUR 3,760). What if you get more interest than the exempt amount? Then the bank withholds 15% tax (withholding tax) on the part that is no exempt.

Do you have multiple savings accounts?

The bank applies the exemption separately to each savings account. Do you hold various savings accounts (for example, for yourself and for your underage children) and receive more than the exempt amount of EUR 1,880 interest in total? Then you must include the amount of interest you have received above the exempt amount in your tax return yourself. A 15% withholding tax will be deducted from this amount.

Receive this tax break as a non-resident

You also receive this tax exemption if you are non-resident (or a natural person with an equal status to a non-resident, such as members of European or international institutions). The bank will then ask you to sign a standard certificate (certificate of exemption from withholding tax). In this you declare, among other things, that you are not resident in Belgium and that your interest arises from your private property.

Does your country have an agreement with Belgium to avoid double taxation? Do you meet the conditions of that agreement? Also in this case you will benefit from tax redemption or reduced tax on your interest.

Do you have any questions about this? Then don't hesitate to contact us.

Exchange of data with your home country

The new OECD CRS regulation

To prevent tax evasion, the OECD has proposed an international guideline for sharing bank data between different countries. This guideline is called the Common Reporting Standard (CRS) and applies from 2016 onward. Belgium and some 50 other countries have signed the agreement.

According to this agreement the bank shares data of foreign customers with the country where they are liable for tax. This includes the balance in your savings account and the derived interest.

Income and balances for 2016 will be reported in accordance with the CRS for the first time in 2017. Income for 2015 will be reported in 2016 for the last time in accordance with the transitional provisions of the European Savings Directive (the predecessor of the CRS).

FATCA, the regulations for US persons

In 2016, US persons will be reported in accordance with the FACTA provisions and the CRS. FACTA (Foreign Account Tax Compliance Act) is an agreement to exchange data on American tax subjects with the American Government.

Do you have any questions about this? Then don't hesitate to contact us.

Legal information

Do you have a complaint?

Please contact BNP Paribas Fortis NV - Complaints Management - Warandeberg 3, 1000 Brussels or Ombudsfin - Ombudsman for financial disputes (www.ombudsfin.be). These savings accounts are regulated savings accounts marketed by BNP Paribas Fortis NV under Belgian law, Warandeberg 3, 1000 Brussels.

Risks

In case of bankruptcy or risk of bankruptcy of the concerned financial institution, the saver risks to lose his savings. He may be submitted to a diminishment/conversion in shares (bail-in) of the claim the saver has on the financial institution, for the amount that exceeds the saving deposit guarantee of EUR 100,000.