Fixed-term savings account

Risks associated with fixed-term savings accounts

Liquidity risk

Interest on your fixed-term savings account is paid according to the chosen frequency. However, early withdrawal of the capital – either in part or in full – is not possible. So the money you invest is tied up until the agreed maturity date.

Insolvency risk

Funds deposited in a fixed-term savings account with BNP Paribas Fortis are covered by the deposit protection mechanism up to a maximum of €100,000 per person. If the bank becomes insolvent or shows a risk of insolvency, the saver could see the portion of their savings exceeding €100,000 converted into shares (through a "bail-in") or could lose some or all of that money. You can find more information on this in the deposit protection information sheet.

Inflation risk

A continuous rise in prices could cause the money deposited in a fixed-term savings account to lose value in real terms.

Foreign exchange risk

It's also possible to open a fixed-term savings account in US dollars or pounds sterling. In this case, the investor is also exposed to foreign exchange risk.

Taxation of fixed-term savings accounts

The interest on a fixed-term savings account is subject to a 30% professional withholding tax.

This tax regime applies to private investors who are resident in Belgium and is subject to change. Other categories of investors are invited to enquire about the tax regime that applies to them.

Want to know more?

• Current interest rates
• Pre-contractual information
• Standard terms and conditions

There is no key information document for this type of account.

Legal information

The "Fixed-term savings account" is a Belgian-law product, marketed by BNP Paribas Fortis SA, Montagne du Parc 3, 1000 Brussels.

Complaints

Any complaint about our products and/or services should be sent by post to BNP Paribas Fortis SA – Complaints Department– Montagne du Parc 3, 1000 Brussels or by email to gestiondesplaintes@bnpparibasfortis.com.

If you’re not happy with the proposed solution, you can send your complaint by post to Ombudsfin – Financial Services Mediation Service - North Gate II, Blvd du Roi Albert II 8 (Bte 2), 1000 Brussels or by email to ombudsman@ombudsfin.be.

Furthermore, you can also consult Article 21 of the standard banking terms and conditions.