The Premium Online Savings Account is for individuals and pays higher interest from EUR 12,500.
The online savings account offers individuals a considerable tax break as part of the interest is exempt from withholding tax.
For 2013, the amount of interest exempt from withholding tax is EUR 1,880 per taxpayer for individuals resident in Belgium.
Double this amount applies for married or legally cohabiting couples opening a joint savings account.
The interest is made up of:
The base rate and fidelity premium of the Premium Online Savings Account are valid provided that the balance of the Premium Online Savings Account is at least EUR 12,500.
If the account balance stands at less than EUR 12,500, then the base rate of the ordinary regulated savings account will apply on the total account balance.
If at the time of a deposit or the beginning of a new fidelity period, the balance of the account is less than EUR 12,500, the loyalty premium for the ordinary regulated savings account will apply to said payment or new fidelity period.
If the minimum balance of EUR 12,500 is reached over several payments, then the increased fidelity premium will only be applied to the amount of the last payment which allowed the EUR 12,500 threshold to be reached.
Calculation of interest
The value date is the date from which a deposit starts or stops accruing interest. A deposit accrues interest from the calendar day following the date of the deposit at the latest and stops accruing interest on the calendar day of withdrawal.
Repayments are allocated to amounts for which the period qualifying for a bonus is least advanced.
By law, an online savings account cannot be used as a current account. But you can still carry out many transactions:
*The regulated savings account is the fruit of the authorities' wish to encourage private individuals to save, by granting them a favourable tax system. The savings account must therefore meet certain well-defined standards of usage and interest calculation, established by Royal Decree.
For a small additional sum, you can take out Account Insurance on your online savings account. In the event of accidental death, this insurance pays out to the beneficiary an amount equal to the credit balance of your savings account with a minimum and maximum amount per account and per person. Please see the "General Account Insurance Terms and Conditions" for further details.Account insurance is a product from AG Insurance SA/NV, Bld E. Jacqmain/E. Jacqmainlaan 53, B-1000 Brussels, Brussels Register of Companies, VAT BE 0404.494.849, and is offered by BNP Paribas Fortis SA/NV, Montagne du Parc/Warandeberg 3, B-1000 Brussels, registered under FSMA No. 25.879 A as an insurance agent acting on behalf of AG Insurance SA/NV.