A Star Savings Account
A good start in life
Do you want to give your child a good start in life? Saving from the beginning gives him or her a financial boost later on. You can do this with our Star Savings Account. You can make withdrawals at any time.
This is a regulated savings account from BNP Paribas Fortis, under Belgian law, with an indefinite duration.
Prior to birth
Reserve a savings account for your baby from about one month before the birth. This allows you, for example, to include it as a gift account on your birth announcement card.
Let us know as soon as your son or daughter is born. We will open the account immediately once we know the name and date of birth of your child.
Open a Star Savings Account, it's free?
- You can open or close your savings account free of charge.
- No management fees (only postage fees, if any)
- Celebrating a birthday, Christmas or an anniversary? You can deposit money at any time.
- Save up to EUR 9,000 per calendar year.
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.
With an automatic savings plan you automatically save a fixed amount at regular intervals (for example, every month). Step-by-step you build up a nice amount.
- Once you have set this up, you don't have to think about it any more.
- You decide for yourself when money is to be taken from your account (for example, on the 5th of every month).
- You can stop automatic savings whenever it suits you.
Pay no tax on the first EUR 1,880 of interest.
As a natural person, you do not pay tax on interest paid on savings accounts, up to a certain amount. In 2018, the tax exemption for interest applies up to 1,880 EUR 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 (3,760 EUR). What if you get more interest than the exempt amount? Then the bank withholds 15% tax (advance levy on income derived from investments) on the part that is not exempt.
Do you have other savings accounts?
The bank applies the exemption separately to each savings account. Do you hold different savings accounts (for example, for yourself and for your underage children) and receive more than the exempt amount of 1,880 EUR interest in total? Then you must yourself include in your tax return the amount of interest that you have received above the exempt amount (that is, the amount on which the 15% advance levy has not been withheld by the bank).
Obtain this tax exemption as a non-resident
You also receive this tax exemption if you are non-resident (or a natural person given equal status to a non-resident, such as members of European or international organisations). The bank then asks you to sign a standard affidavit for exemption from the advance levy. In this you declare, among other things, that you are not resident in Belgium and that the interest arises from your own personal property.
Does your country have a double taxation agreement with Belgium? Do you meet the conditions of that agreement? Also in this case you will benefit from tax exemption or reduced tax on your interest.
Do you have any questions about this? Then don't hesitate to contact us.
How much interest do you receive?
The interest rate is composed of a basic interest rate and a loyalty premium. Currently, the basic interest rate is 0.01% and the loyalty premium is 0.10% (gross annual percentages). They may fluctuate depending on market conditions. We report any change to you on your next account statement. A Star 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 is guaranteed for the recruitment period. 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.
Want to know more?
Make sure you read the document 'Essential information for savers (pdf)' before opening a savings account.
- Complaints can be submitted to BNP Paribas Fortis SA/NV Complaints Management, Montagne du Parc 3, B-1000 Brussels or to AG Insurance SA/NV, Complaints Management, Boulevard Emile Jacqmainlaan 53, B-1000 Brussels
- If you are not satisfied with the solution proposed by BNP Paribas Fortis or AG Insurance, you may refer the dispute in writing to the Ombudsman for Insurances, De Meeûssquare 35, B-1000 Brussels, www.ombudsman.as or by e-mail to email@example.com.
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.
The Star Savings Account for minors is a regulated savings account marketed by BNP Paribas Fortis SA/NV, Montagne du Parc/Warandeberg 3, B-1000 Brussels.
Intermediary:BNP Paribas Fortis SA/NV, Montagne du Parc/Warandeberg 3, B-1000 Brussels – Brussels Register of Companies – VAT No. BE 0403.199.702, is registered under this number with the FSMA, Rue du Congrès/Congresstraat 12-14, B-1000 Brussels, and acts as an associated agent on commission for AG Insurance SA/NV. BNP Paribas Fortis SA/NV holds more than 10% of the shares in AG Insurance SA/NV.
AG Insurance SA/NV – Boulevard E. Jacqmainlaan/Jacqmainlaan 53, B-1000 Brussels – Brussels Register of Companies – VAT No. BE 0404.494.849 – www.aginsurance.be - Insurance company authorised under code 0079, under the supervision of the National Bank of Belgium, Boulevard de Berlaimont/De Berlaimontlaan 14, 1000 Brussels.
Home Purchase Savings Account
Do you want to save for a house or a flat? Then this BNP Paribas Fortis savings account (under Belgian law) is right for you. Find out more information here.
- for people between 18 and 35 years old
- plans to purchase, build or remodel a property
- save up to EUR 6,000 a year
- regulated savings account