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Saving Accounts: Specific terms and conditions

(valid as of 1/07/2014)

These terms and conditions govern BNP Paribas Fortis savings accounts and replace the Specific Terms and Conditions of BNP Paribas Fortis SA/NV for Savings Accounts filed on 16 December 2002 in Brussels with the 6th Bureau, Volume 276, Sheet 17, Section 3, in continuous application.

The General Terms and Conditions of BNP Paribas Fortis SA/NV (hereinafter the "Bank") apply to any and all aspects not expressly specified in these terms and conditions.

Article 1 – General

The provisions hereof apply to all savings accounts, irrespective of their material form or trade name.

Article 2 – Statements

Savings account transactions are communicated to customers by account statements.

Article 3 – Deposits

All credit transactions are permitted irrespective of their amount.

Article 4 – Withdrawals

Under current tax regulations, withdrawals from regulated savings accounts can only be made for the following transactions:

  • Cash withdrawals;
  • Transfers, other than in execution of a standing order, to an account with the Bank held in the name of the savings account holder;
  • Transfers to a savings account with the Bank held in the name of a spouse or in the name of (one of) the parents or children of the savings account holder;
  • Payment of principal, interest or charges owed by the savings account holder on loans or credit extended by the Bank or an institution represented by the Bank;
  • Payment to the bank of charges related to the savings account, of the purchase or subscription of securities.

Withdrawals other than for the transactions cited above are not permitted as these may lead to loss of partial withholding tax exemption on income generated by the savings account. The account holder must therefore ensure that any withdrawals comply with the above-mentioned criteria.

In contrast to Article 26 of the General Terms and Conditions of the Bank, the latter may, on either a specific or a general basis, impose a notice period of five calendar days on withdrawals exceeding EUR 1,250 and may limit to EUR 2,500 per fortnight.

Withdrawals may be made by the account holder, a duly authorized person or a legal representative acting within his capacity.

All withdrawals must be confirmed with a receipt.

Article 5 - Remuneration

The remuneration of savings accounts is comprised of the basic interest and a loyalty bonus.

The basic interest and bonuses are calculated separately on an annual rate. The Bank fixes the basic rate and loyalty bonus rate in accordance with tax regulations in force.

The basic savings rate and the loyalty bonus rates are published in the "Scale of Rates and Charges" available to customers at all the Bank's branches and on the websites and Rates may vary according to market conditions or changes in the statutory rate ceilings. Customers are advised of any changes in the basic and loyalty bonus rates via message enclosed with the next account statement.

The basic interest rate

Basic interest is acquired on a daily basis.

The basic interest rate is not guaranteed and can be changed daily based on changes in interest rates. Any increase in the basic interest rate is however continued for a period of at least three months, except in the case of a reduction in the European Central Bank rate for main refinancing transactions. A single basic interest rate is applied per savings account at any given time.

The loyalty bonus

To receive the loyalty bonus, an amount must remain on deposit for 12 consecutive months.

In the case of a transfer other than by virtue of a standing order between two BNP Paribas Fortis regulated savings accounts opened in the name of the same account holder, the period for building up the loyalty bonus on the transferred savings deposit is acquired on the condition that the transfer amount is at least €500 and that the account holder concerned has carried out fewer than three transactions of this kind, from the same savings account during the same calendar year (in force from 1 January 2014).

An amount for which a loyalty bonus is awarded is automatically reinvested for another 12 month period.

The loyalty bonus rate applicable at the time of pay-in or at the beginning of a new loyalty period remains applicable for the entire length of the loyalty period, except in the case of a transfer referred to in paragraph 2 above, in which case the loyalty bonus will be calculated according to the rate of the loyalty bonus applicable to each savings deposit.

Article 6 - Calculation and payment of remuneration

The value date is the date from which a deposit starts or stops yielding interest. A deposit generates interest, at the latest, from
the calendar day after the date of deposit, and stops yielding interest as from the calendar day of withdrawal.

However, in the case of an internal transfer between two BNP Paribas Fortis SA/NV accounts, the value date is the date of the transfer for each of the accounts.

Repayments are charged to those amounts for which the bonus acquisition period is shorter. If the same bonus acquisition period applies to more than one amount, the amount affected first of all is the amount for which the loyalty bonus rate is lower.

Basic interest is calculated annually on 1 January of the following year and is added to the capital in the savings account on 2 January, with a value date of 1 January.

Loyalty bonuses acquired are added to the account every quarter. They yield basic interest respectively as from 1 April, 1 July, 1 October and 1 January following the quarter during which they were acquired.

Holders of a savings account receive a statement providing a breakdown of interest added to the account.

Capitalised interest and bonuses are taken into account for calculation of a loyalty bonus at the end of the 12-month bonus award period.

For savings accounts which are closed during the year, the interest and bonuses already acquired at that time may, on request, be paid at the same time as the capital.

Article 7 - Withholding tax

Interest and loyalty premiums earned by natural persons are exempt from withholding tax up to the interest ceiling specified in the “Scale of Rates and Charges”.

Article 8 - Inactive account

No interest is paid on savings accounts if the balance is below the threshold specified in the “Scale of Rates and Charges” and no deposits or withdrawals have been made over a 12-month period.

If a deposit or withdrawal on such an account is made, interest will again start to accrue from 1 January of the year in which the transaction takes place.

Article 9 - Charges

The Bank reserves the right to charge an annual handling fee on savings accounts with a balance below the threshold specified in the “Scale of Rates and Charges” at the end of the period indicated therein.

Article 10 - Unregulated savings accounts

The Bank accepts deposits on savings accounts other than regulated savings accounts. Other specific terms and conditions apply to such accounts.

Such accounts do not benefit from the partial exemption from the withholding tax provided for in the Income Tax Code and in the Implementing Orders of this Code.

Article 11 - Amendments

Any amendment to these Specific Terms and Conditions must be agreed with the customer under the following terms and conditions:

Holders of a savings account must be advised of the amendment by message appended to an account statement or by ordinary letter. The amended text shall be available to customers in all of the Bank's branches and on the websites and

Subject to statutory or regulatory requirements, the amendments shall come into effect on the first day of the second month following that in which notification is given.

Customers who reject the proposed amendment shall have the same length of time in which to terminate their business relationship with the Bank at no charge.

Article 12 - Complaints

Holders of savings accounts in disagreement about the application of the rules governing the functioning of the savings account and the interest calculation should submit their complaint to:

BNP Paribas Fortis SA/NV
Complaints Management (1QA8D)
Montagne du Parc/Warandeberg 3
B-1000 Brussels

within three months following the date on which the interest and premium were credited to the savings account.

Regulated Savings Account: pre-contractual information

(valid as of 24/04/2015)

Information about BNP Paribas Fortis SA/NV

The Regulated Savings Account is a product of BNP Paribas Fortis SA/NV, Montagne du Parc / Warandeberg 3, 1000 Brussels, RPM/RPR 0403.199.702, acting herein as provider of the service.

BNP Paribas Fortis SA/NV is subject to the prudential supervision of the National Bank of Belgium, Boulevard de Berlaimont 14, 1000 Brussels and the supervision on investor and consumer protection of the Financial Services and Markets Authority (FSMA), rue du Congrès 12-14, 1000 Brussels and authorised as insurance agent under FSMA number 25789 A.

Features and terms and conditions of use

The Regulated Savings Account is governed by the Special Terms and Conditions for Regulated Savings Accounts.

Interest and bonuses

The payment of interests on a Regulated Savings Account consists of two elements, all expressed in a percentage on an annual basis: a basic interest and a loyalty bonus:

The basic interest rate and the loyalty bonus for BNP Paribas Fortis' Savings Accounts are included in the scale of charges available for consultation at

More detailed information about the return on Regulated Savings Accounts and the calculation method is included in Article 5 of the aforementioned Special Terms and Conditions applicable to Regulated Savings Accounts.

The interests on a Regulated Savings Account benefit from the tax exemption of EUR 1,880 per year (2015).

Management and other fees

There is no charge for opening, closing and managing the Regulated Savings Account. Account statements and all transactions are also free of charge.

An annual management fee of EUR 2.50 is made for accounts with a balance of less than EUR 25 on which no transactions have been carried out for ten years and where the holder is at least 24 years old and has no other accounts with BNP Paribas Fortis SA/NV.

Postage will be charged in case of sending account statements by post (from April 1st, 2015).

The bank may amend the above features, terms and conditions of the Regulated Savings Account at any time. In that case, the relevant information will also be amended accordingly.

Right of withdrawal

You are entitled to withdraw from your Regulated Savings Account without penalty and without being required to state your grounds. You may avail yourself of this right within 14 calendar days of signing the contract.

In that case you will only have to pay any costs relating to services that have actually been provided, at the prevailing rates. If you do not avail yourself of this right, your Regulated Savings account will continue to exist for an indefinite period.

In accordance with the provisions of Article 14 of the General Terms and Conditions of BNP Paribas Fortis SA/NV, both you and BNP Paribas Fortis SA/NV can close the Regulated Savings Account.

Applicable law -- Competent courts -- Miscellaneous

The relations that bind you to the bank, both the relations preceding the opening of the account and the relations resulting from such opening, are governed by Belgian law.

Legal claims in relation to the savings account agreement and its execution will be heard by the court specified in Article 23 of the General Terms and Conditions of BNP Paribas Fortis SA/NV.

Any communication in connection with, or resulting from, the opening of the savings account must be in the language recorded in the files of the bank at the start of the relationship.

Right of recourse

Without prejudice to any legal remedy, you may submit any complaints in writing to:

BNP Paribas Fortis SA/NV
Complaints Management (1QA8D)
Montagne du Parc/Warandeberg 3
1000 Brussels
Fax: +32 (0)2 228 72 00

If you are not satisfied with the solution proposed by the bank, you may submit the dispute to:

Mediation Service Banks - Credit - Investments
rue Belliard/Belliardstraat 15-17, Box 8
1040 Brussels