Pension savings plans
- Setting up a Pricos pension savings plan
- Topping up your Pricos pension savings plan
- Topping up your KBC Life Home Plan, KBC Home & Pension Plan or KBC Home & Long-Term Plan
- Long-term saving: Open a KBC Home & Long-Term Plan
Time deposit account
Where do I set up a KBC Savings Account?
Already have a savings account with us?
If so, open 'Investments'. Under your 'Current assets', tap 'Savings' to see a plus sign that lets you open a ‘New savings account’.
Alternatively, open 'Payments' to see your accounts and tap the plus sign next to 'Savings accounts' to open a new one. Or tap ‘Dashboard’ in
the menu, then swipe all the way to the left and tap ‘New product’ to open a
new savings account.
Don’t have a savings account with us?
Tap 'Investments' in the menu and then 'I want to save'.
Alternatively, open 'Offer' then go to 'Savings and investments' and tap 'Open a savings account'.
Who can I set up a savings account for in KBC Mobile?
KBC Mobile lets you open a KBC Savings Account for yourself, yourself and your partner (provided they're known to us) or any of your children (again, if they're on file with us). You can also open a KBC Tall Oaks Savings Account for your child, grandchild or baby on the way (during pregnancy or adoption).
Marriage partners and legal cohabitants.
Where do I find confirmation that I have opened my account?
Once your savings account has been opened, we’ll message you as soon as possible to confirm this. Tap ‘Communication’ in KBC Mobile or ‘Messages’ in KBC Touch and KBC Invest to see this message,
which does not contain any legal information or product features. If you wish to save that information, download the respective PDF files and save them on your device.
What risks are attached to this service?
If you want to use this service, we need your personal security details from the bank concerned. That may be in breach of their general terms and conditions.
We store your personal security data from them separately from your KBC security and customer data.
While we do our utmost to guarantee the security of your data and only the use permitted by you, this service is more susceptible to fraud. That may mean that the bank in question won’t reimburse you in the event of fraud or malpractice.
Can I also add savings accounts I hold at other banks to KBC Mobile?
Yes. You can add savings accounts with other banks to KBC Mobile This feature is only available in KBC Mobile (not in KBC Touch). Tap the green plus sign, log in to your other bank and follow the instructions to add your account. You can also delete accounts you’ve added.
We need your consent to connect to a savings account you hold at another bank. You give us your permission to do so using KBC Mobile. We then have permanent access to your login credentials and the data needed to show your savings account and its transactions in our app. We store these personal details from your other bank separately from your KBC security and customer data.
What are the risks of adding a savings account at another bank?
Although KBC takes the necessary steps to guarantee the security of your data and the use permitted by you, this service is more susceptible to fraud. It is therefore possible that the bank in question will not reimburse you in the event of fraud or abuse.
How do I close a KBC Savings Account using KBC Mobile?
A KBC Savings Account can be closed quickly and easily under your account's 'Settings' tab. This applies to savings accounts you, you and your spouse or you and your children hold. You can also close savings accounts over which you have power of attorney.
Can I also add savings accounts I hold at other banks to KBC Mobile?
Yes. You can add current accounts with other banks to KBC Mobile. This feature is only available in our KBC Mobile app (not in KBC Touch). Tap the green plus sign, log in to your other bank and follow the instructions to add your account. You can also delete accounts you’ve added.
How is the connection established?
We need your consent to connect to a savings account you hold at another bank, which you give us using KBC Mobile. This allows us access to your personal login credentials at your other bank and the details needed to show you your savings account and its transactions in KBC Mobile. We store these personal details from your other bank separately from your KBC security and customer data.
Are there any risks involved?
New technologies may also give rise to new risks of fraud or other malpractice. We constantly monitor the balance between the security of your personal login credentials and making it easy to use all our digital services, including this one. We do our utmost to guarantee that your data stays secure and is only used with your consent. In the unlikely event that your personal data is misused, your other bank may not reimburse you.
Where do I set up a Pricos pension savings plan?
Tap ‘Offer' to open a Pricos pension savings plan in just a few steps. If you’d like a bit more advice, opt for ‘Mobile investing with advice’ to get suggestions that fit you.
If you already have a tax-friendly insurance product, you won't be able to set up a Pricos pension plan.
Who can set up a Pricos pension savings plan using Mobile?
You must be aged between 18 and 65 to set up a Pricos pension plan, and you must have a permanent address outside the US.
Who can I set up a Pricos for in KBC Mobile?
You can only open a Pricos pension savings plan for yourself.
Can anyone get the tax break?
The tax benefit is only available to people who earn a sufficient amount of taxable income in Belgium.
Since 2018, you’ve been able to choose between two maximum tax-deductible amounts you can save under a pension savings plan. One gives you a tax benefit of 25%, the other 30%, depending on the amount you choose.
Can I choose the capped amount I can save for tax relief?
When you open a pension savings plan with us, the lower of the two capped amounts you can save for tax relief is chosen for you by default.
Your pension savings account appears in your assets view once you’ve paid into your plan for the first time. Tap ‘Top up’ to change the amount you want to save.
It’s automatically set to the lowest amount for tax relief at the start of a new tax year, so you need tell us your choice every year.
What does a Pricos pension savings plan cost?
With a pension savings plan, you invest a fixed amount by standing order in a fund every month. You only pay usual charges for the fund. See the relevant product information for more details of what you pay.
Every time you pay into your plan, you pay entry charges. There are also annual management fees to pay, as the fund invests in shares and bonds, which need to be actively monitored.
That said, there is a final tax charge, on top of the attractive tax relief and potentially high returns. The tax is generally payable on your 60th birthday. If you start saving after turning 55, the tax charge is due after ten years.
Note, however, that tax treatment will depend on your individual circumstances and can change in the future. For further details, including on the final tax charge, contact your KBC branch.
Can I set up a Pricos in KBC Mobile without a standing order?
No, KBC Mobile only lets you pay into a Pricos by standing order.
How many Pricos pension savings plans can I open using KBC Mobile?
You can't open more than one Pricos pension savings plan.
Where do I find confirmation that I've opened my Pricos pension savings plan?
Once your plan has been opened, we’ll message you as soon as possible to confirm this. Tap ‘Communication’ in KBC Mobile or ‘Messages’ in KBC Touch and KBC Invest to see this message,
which does not contain any legal information or product features. If you wish to save that information, download the PDF files and save them on your device.
Can I change my pension savings plan or cancel it temporarily or entirely?
You can always sell or take your pension savings earlier, but you’ll be heavily taxed.
If you want to save more or less, or cancel your monthly investment order temporarily or entirely, we'll be happy to help you. Call or chat with KBC Live or make an appointment at your branch.
How do I know if I’ve already saved the maximum tax-deductible amount this tax year?
When you've paid the maximum tax-deductible amount into your pension savings account, your Pricos account will be marked with a 'Fully paid' label in your account view. If you tap this label, a screen will appear showing what you've already paid and still have left to pay into your plan and what this year's maximum tax-deductible amount is. This screen will also be marked with a 'Fully paid' label when you've deposited the entire amount qualifying you for the full tax break.
Can I pay into my pension savings plan using KBC Mobile?
Yes. Just tap your account to view its details and pay into your plan. The amount to be deposited is the total amount needed to top up your plan to get the full tax relief. You can change that amount, but no higher than the tax-deductible ceiling.
Can I immediately pay more into a pension plan that I’ve just opened?
No. You can only see it once your first deposit has been processed, which takes two to three working days. Bear that in mind if you set up a plan at the end of the year.
Why am I getting a message saying that there's a deposit still being processed and I can't make additional deposits?
It takes two to three banking days to process a pension savings plan deposit, so you won't be able to make a second deposit quickly after making a first one. Once your previous deposit has been processed, you can make another one.
Tell us the maximum amount you aim to save for tax relief
- Log in to KBC Mobile.
- Tap 'Investments' in the bottom menu, followed by ‘Tax-advantaged savings & investments’. Tap your pension savings account.
- Tap the information ball next to ‘Your current maximum tax-qualifying amount in 2019’. You'll then see a screen with more information about the two caps for pension savings in 2019: 990 euros or 1,270 euros euros.
- Return to the previous screen and tap the blue button.
- Select the tax-deductible cap you want to save in 2019 and tap 'Continue'.
- An information screen will appear explaining the product features. Read through this information and then tick the ‘I've read the product information' box. Tap ‘Continue’.
- Select the amount that you want to pay in and tap 'Sign' to confirm your deposit. You'll then see a confirmation page stating that your deposit has been made.
that if you've opted for the 1,270 euros cap, you'll need to deposit the amount required to reach the cap in one go using KBC Mobile. Then you'll be sure to obtain the most tax relief.
Example: you've been depositing 80 euros per month to your pension savings account by standing order (or 990 euros annualised). By October, you'll have saved 800 euros. At that moment, you can still go for the 1,270 euros cap and deposit an additional 430 euros in one go to make up the difference.
How do I know when I'm eligible for the full tax break under my KBC Home & Long-Term Plan, KBC Home & Pension Plan or KBC Life Home Plan this fiscal year?
When you've paid the maximum tax-deductible amount, your plan will be marked with a 'Fully paid' label in your accounts overview. If you tap this label, a screen will appear showing what you've already paid and still have left to pay into your plan and what this year's maximum tax-deductible amount is. This screen will also be marked with a 'Fully paid' label when you've deposited the entire amount qualifying you for the full tax break.
Can I pay into my KBC Life Home Plan%, KBC Home & Pension Plan or KBC Home & Long-Term Plan using KBC Mobile?
Yes. Just tap your account to view its details and pay into your plan. The amount to be deposited is the amount needed to top up your plan to get the full tax relief. You can change this amount if you prefer, as long as you don't exceed the maximum tax-deductible amount.
Note that we’re unable to check in real time whether you’ve deposited the entire amount making you eligible for the full tax break. If you pay in too much, we’ll repay you the difference afterwards.
Why am I getting a message saying that there's a deposit still being processed and I can't make additional deposits?
It takes two to three banking days to process a deposit, so you won't be able to make a second deposit quickly after making a first one. Once your previous deposit has been processed, you can make another one.
What details can I see for my KBC Home & Pension Plan – NIHDI?
If you hold the KBC Home & Pension Plan – NIHDI insurance product, you can only view the reserve that you have built up with it.
What is long-term saving?
This type of saving is where you save through a form of life insurance (sometimes called savings insurance) to build up a supplementary pension or pay for mortgage protection cover. It also benefits you in that you can get tax relief of up to 30% on the amount you save.
Savings insurance plans are effectively life insurance policies where each deposit you make earns a fixed amount of interest. You could also receive an annual profit share, depending on KBC Insurance's results.
Why save for the long term?
Long-term savings are a great way to build up a supplementary pension or pay for mortgage protection cover.
How much can I save every year?
The government caps the amount eligible for full tax relief every year. This year, it's 2,350 euros.
The most that you personally can save depends on your net taxable earned income, which is given on your most recent tax assessment notice under 'Gezamenlijk belastbaar inkomen' (Joint taxable income).
How do I make sure that what I save every month will be enough to get the full tax relief available to me personally this year?
When you set up a long-term savings plan using KBC Touch or KBC Mobile, you automatically save a twelfth of your personal maximum amount every month by standing order.
Can I set up more than one long-term savings plan?
Yes, provided that you don't save more than your personal maximum amount.
Can I save more than the amount capped by the government?
No. You can never save more than the capped amount set by the government.
You can, however, save more than your personal maximum amount, though you won't get tax relief on any amount you save above that. You'll also have to pay tax on the total amount and possibly additional charges once you turn 60.
How long do long-term savings plans last?
Long-term savings plans must be for 10 years to benefit from tax breaks.
If you're under 55 when you set up your plan, it ends once you turn 75. If you set up your plan when you're 55 or older, it lasts for 20 years.
There are two amounts on my tax assessment notice. Which one should I opt for?
Married couples receive a joint tax assessment notice. The tax authorities regard one member of the couple as being the 'declarant' (usually the man – left column on the tax return) and the other as a 'partner' (usually the woman – right column on the tax return). It's important that you use the amount from the applicable column.
I want to set up a long-term savings plan for my partner. Can I do so?
No. Plans set up using KBC Mobile are opened in the name of the person logged into the app at the time.
Can I withdraw what I've saved before my plan ends?
Yes, though bear in mind that withdrawing the money that you've accrued will attract charges and could be heavily taxed.
Can I change the amount that I save every month?
How do I see details of my long-term savings plan?
- Log in to KBC Mobile
- Tap 'Investments > Tax-advantaged savings and investments'
Where do I open a new security deposit savings account?
Tap 'More > Home > Open your security deposit savings account’. You can immediately view the new account.
Where do I find my security deposit savings account?
Open your 'Payments' menu to see it among your other accounts or look under 'Home' (More > Home).
What can I open a security deposit savings account for?
You can open a security deposit savings account if you've signed a private lease for renting an apartment, house, student accommodation, service flat, room in a nursing home or a parking space, both as a main residence and a second home. You can't open one for property that you rent for professional purposes or for property abroad.
What documents do I need to open a security deposit savings account?
You need the ID cards of all tenants, the name(s) and address(es) of the landlord(s) and the lease.
Who can open a security deposit savings account?
Any individual aged 18 and over can open one, either in your own name, or in your and your partner's names (provided they're on file with us).
The landlord may be a private individual, a Public Social Welfare Centre or an estate agent.
I'm allowed to open a security deposit savings account for ‘myself’ or for ‘myself and someone else’. Who exactly is ‘someone else’?
That includes your spouse, legally cohabiting partner, unofficially cohabiting partner, brothers, sisters, parents, boyfriend or girlfriend. They all qualify, though the ‘other person’ must be on file with us.
Who has to sign for the security deposit savings account?
All tenants that you register when you open a security deposit savings account must sign the account contract.
Can I gain immediate access to my newly opened security deposit savings account?
Yes, it's located under ‘Payments’ and ‘Home’.
Do I have to transfer my security deposit immediately after I open the security deposit savings account?
No. You can transfer your security deposit either as soon as you open the account, or at a later date.
Am I limited in opening a security deposit savings account myself?
You can't use our KBC Mobile app to open a security deposit savings account:
- if you're under 18
- if there are more than two landlords
- if you're an expat
- for property that you rent abroad
- for a business premises or moveable assets
Can I change the amount of my security deposit?
No. However, you can pay it at a later date (after opening the security deposit savings account). The entire amount of the security deposit will be blocked immediately after being transferred. You can deposit additional money on this account at any time, but can't withdraw any.
Can I change the tenants or landlords once the security deposit savings account has been opened.
You can have the names of the tenants or landlords changed at your branch. You may not add or remove tenants or landlords without first closing the security deposit savings account.
Does the e-mail that KBC may end up sending to my landlord release me of my own duty as a tenant to inform the landlord?
Does the e-mail that KBC sends to my landlord contain personal details?
It only contains the name of the tenant (or names of the joint tenants) and the amount of the security deposit.
What else does KBC use my landlord’s e-mail address for?
We only use your landlord’s e-mail address (if necessary) to inform them about the security deposit savings account. We remove their e-mail address from our records afterwards.
Can I close my security deposit savings account?
The app lets you apply to close your security deposit savings account or release your security deposit after receiving the signed release agreement from your landlord(s) or when you are in possession of a court order.
What documents do I need to release the funds on my security deposit savings account?
You need the following documents:
- Completed release document signed by the tenants and the landlord (or joint landlords, if the property is jointly owned)
- Landlord’s ID card (or joint landlords’ ID cards, if the property is jointly owned)
- The lease
How long will it take to release the funds on my security deposit savings account?
Once we've checked and approved the documents you send us, we'll transfer the amount in accordance with the guidelines shown on the release document. The release, including the transfer, will take one banking day. You'll receive confirmation of this under ‘Communication’ in your KBC Mobile app.
Where do I open a time deposit account using KBC Mobile?
- Open ‘Investments’ and tap the green plus sign to the left of ‘New savings or investment product’.
- If you already have investments, choose ‘Open a time deposit account’ from the list. If you don’t have any investments yet, select ‘I want to set aside money and earn a fixed return’.
If you tap ‘Offer’, you’ll also find an ‘Open a time deposit account’ option under ‘Savings and investments’.
Who can I open a time deposit account for in KBC Mobile?
- Your minor child
- Yourself and your spouse or partner
- Someone else (provided you have power of attorney over the originating account and over an existing time deposit account in the name of the same person)
A KBC Time Deposit Account opened using KBC Mobile is always in the name of the person or persons holding the originating account.
Where do I find confirmation that I’ve opened my time deposit account?
You’re notified of this once you’ve signed. The originating account’s transactions view shows the transaction described as ‘Subscription’ and also the time deposit account number.
Can I see my time deposit account right away?
No. It may take up to two days for your time deposit account to appear in your ‘Investments’ view.
Can I open a time deposit account in a foreign currency?
Only if you already have the amount available in the currency concerned. Our range of time deposit accounts in foreign currencies is also limited and subject to change. If any are available and you have an account in the relevant currency, you’ll be given the option at the start of the subscription transaction.
Is the rate I see when choosing the term the final one?
Most of the time it is, but not always.
The rate you see when checking all the details just before signing is the one you’ll get. If exemption from withholding tax applies, this is not displayed at earlier stages of the process (like choosing the term), but you are shown this at the end when reviewing all the details. Only then is all the relevant information known.
Why am I being told that there is no digital offering at present?
The range of time deposit accounts changes, so we may be unable to offer any standard ones.
Time deposit accounts may be available through other channels, or other products that offer a fixed interest rate such as savings certificates. KBC Live will be happy to help you with this.
Why can’t I see all my accounts in the list of originating accounts?
You won’t be shown accounts that you can’t use to subscribe, like pledged accounts or accounts subject to usufruct.