What interest rate will you get?
The deposit account currently pays interest at the following rates:
- Basic rate: 0.30% (gross, i.e. 0.21% net)
- Growth bonus: 0.20% (gross, i.e. 0.14% net)
- Loyalty bonus: 0.20% (gross, i.e. 0.14% net)
The gross and net interest rates (after deduction of the 30% professional withholding tax) mentioned above are expressed on an annual basis. They may vary depending on market conditions. Deposit account holders are notified in advance of any changes through a notice in their account statements.
Good to know: unlike regulated savings accounts, non-regulated savings accounts are not required to apply a minimum interest rate or grant a loyalty bonus.
What exactly does the basic rate on your deposit account consist of?
You receive the basic rate for any amount deposited into your deposit account. Your money earns interest for each day it remains in your account, starting from the calendar day after the date it was deposited. You receive interest calculated at the basic rate every year on 1 January, or when the account is closed. The basic rate is not guaranteed and may fluctuate depending on market conditions.
What is a growth bonus?
It’s a one-time bonus granted on any increase in your savings. The applicable rate is the rate in effect at the time of the deposit and remains guaranteed for the entire vesting period. The growth bonus vests six months after the deposit, provided the deposit remains in the account for six consecutive months. Once the growth bonus has vested, it is taken into account for the loyalty bonus. The growth bonus and loyalty bonus cannot both be applied to the same amount during the same period.
Good to know: the growth bonus is paid into the account on the first day of the quarter following the end of the quarter in which it vested (i.e. on 1 January, 1 April, 1 July, or 1 October) or when the account is closed.
When do you receive the loyalty bonus in your deposit account?
The loyalty bonus is paid on any amount that has remained in the account for 12 consecutive months starting with:
- either the vesting of the growth bonus
- or the vesting of the loyalty bonus for the previous 12-month period.
The rate of the loyalty bonus is not guaranteed and may fluctuate depending on market conditions. The loyalty bonus is calculated pro rata temporis based on any changes in rates that may have occurred during the vesting period.
Good to know: the loyalty bonus is paid into the account on the first day of the quarter following the end of the quarter in which it vested (i.e. 1 January, 1 April, 1 July, or 1 October) or when the account is closed.
