KBC Start2Save Account
- Receive a base rate of interest of 0.75% on an annual basis
- Receive a fidelity bonus of 1.80%
(on funds remaining on your account without interruption for a period of 12 months)
- Withdraw your savings at any time
What is a KBC Start2Save Account?
Offered by KBC Bank NV Belgium, the KBC Start2Save Account is a regulated savings account that may be held in the name of one or more individuals. It is governed by the laws of Belgium.
You can only put money into a KBC Start2Save Account by means of a monthly savings standing order (up to 500 euros a month). You can only open one KBC Start2Save Account.
|Base rate of interest
These interest rates are gross rates (expressed on an annual basis) and may change at any time. Current rates are always given here or can be obtained from your KBC branch. If the rates change, we will inform you by post or through one of our digital channels.
Your savings start earning interest at the base rate on the date the automatic savings order is executed or on the calendar day after the transaction date for standing orders coming from KBC or another financial institution. Your savings cease to earn interest as from the calendar day on which you withdraw them.
The fidelity bonus is awarded for amounts that remain on the savings account for 12 consecutive full months. If you withdraw savings, the accruing fidelity bonuses whose acquisition date is furthest in the future will be the first to be used. For the first three transfers of funds per year to another regulated savings account at KBC, however, the fidelity bonus will be transferred proportionally if the following conditions are met:
- Both savings accounts have at least one common account holder
- The amount transferred is at least 500 euros
- The funds are not transferred by standing order or automatic savings order
This means that the current 12-month calculation period is not ended, but continues instead on the savings account receiving the funds. In this case, too, the fidelity bonus is only awarded for amounts that remain on the savings account for 12 consecutive months.
Features of this savings account
- Funds available at all times: the KBC Start2Save Account is an open-ended product and funds can be withdrawn from it at any time and without charge.
- Free of charge: we won't charge you for opening and managing your savings account. Receiving printed account statements by post costs you 2.50 euros a month if they are sent monthly or 25 euros a month if sent daily.
- Tax-efficient: individuals are exempt from withholding tax (currently 1,020 euros) on the first 15% of interest earned each year (2024 figure).
- Automatic savings order: you can only put money into a KBC Start2Save Account by means of a monthly standing order to transfer funds (up to 500 euros) from a current account at KBC or another financial institution. Only one such order is allowed per KBC Start2Save account.
- Insolvency risk: a maximum of 100,000 euros of your aggregate deposits with KBC Bank are guaranteed per person, subject to certain conditions. In the event of 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 our ‘Protection of deposits and financial instruments in Belgium’ brochure from your KBC branch or from www.kbc.be/depositprotection.
- Inflation risk: this savings account also has an inflation risk, as sustained price increases can result in the amount deposited losing value.