Open one even if you bank elsewhere
You don’t need to be with us to open this account.
In KBC Touch, KBC Mobile or on the website
With your tablet, phone or PC.
You can use your account straightaway.
Why go for a security deposit account?
If you're planning to rent a house or apartment, a KBC Security Deposit Savings Account is a good idea. Why? Landlords usually require a security deposit. By putting this on a frozen savings account, neither you nor the landlord can touch it for the duration of the lease.
You can also open a KBC Security Deposit Savings Account when renting student accommodation, a service flat, a room in a nursing home or a parking space. In other situations (e.g., commercial leases), you can't use a KBC Security Deposit Savings Account, but instead can open a standard savings account as third-party collateral.
The KBC Security Deposit Savings Account is a regulated savings account offered by KBC Bank NV, Belgium. It is governed by the laws of Belgium.
Features of a KBC Security Deposit Savings Account
- Interest earned
0.01% basic interest and 0.10% fidelity bonus. These are gross rates and annualised and are subject to change at any time. Current rates are always given here or can be obtained from your KBC branch. If rates change, we will inform account holders of this on their statements of account.
- Saves on tax
Individuals are exempt from withholding tax (currently 15%) on the first 980 euros of interest earned each year (2022 figure).
- Free savings account
No charge for opening and managing the account.
The KBC Security Deposit Savings Account is an open-ended product. The security deposit agreement linked to this account remains in force until the security deposit savings account is closed.
Your entire deposits with KBC Bank up to a maximum of 100,000 euros per person are guaranteed subject to certain conditions. In the event of the KBC's insolvency (e.g., if it goes into bankruptcy), you run the risk of losing any deposits you have over 100,000 euros, or their amount could be reduced or converted into shares. You can obtain a copy of the 'Protection of deposits and financial instruments in Belgium' brochure from your KBC branch or from www.kbc.be/depositprotection.
Access your security deposit any time
You don’t need to be with us to open this account, but you do need a Belgian ID card. Simply open one through our website to start using it right away. You choose when to transfer your security deposit and we’ll e-mail your landlord to confirm everything if you like.
Bank with us and you can open this account in just 3 steps using KBC Touch or KBC Mobile. That could come in handy if your landlord only wants to give you the keys after arranging the security deposit.
Borrowing for a security deposit
If you're having trouble advancing your security deposit, you may be able to take out an interest-free security deposit loan with the housing fund in the region where you rent your accommodation.
- Flemish Region: In the Flemish Region, you can apply for an interest-free security deposit loan with the Vlaams Woningfonds (Flemish Housing Fund). If you do, you won’t be able to arrange your security deposit online. The reason for this is that when you apply for a security deposit loan, you need to provide documentary evidence that you have opened a security deposit account in your own name at a financial institution. You can only obtain this document from your KBC branch.
- Walloon Region and Brussels-Capital Region: The Walloon Region (except for the German-speaking Community) and Brussels-Capital Region also offer the opportunity to take out a security deposit loan with them.
KBC Bank is not party to the security deposit loan contract between the tenant(s) and the housing fund in the region concerned.
You open a KBC Security Deposit Savings Account when the lease starts and the deposit is released at the end of the lease by
- Written agreement between the tenants and the landlord (or joint landlords)
- Court order (small claims court)
You no longer have to go to a KBC branch to ask for the deposit to be released. Instead, you can do it easily in our app by scanning or taking a photo of the completed and signed release document, the lease and the landlord's ID card (or copies of each landlord's card if the property is jointly owned) and forwarding them to us in KBC Touch or KBC Mobile. If everything is in order, we return the amount of the security deposit (plus interest), ensuring it is divided up as agreed.
Please read these documents before you open a savings account.
Don't forget about tenant property insurance
Good to know: tenants in Flanders and Wallonia must have property insurance if the rented property is their main residence. More information on property insurance.