Open one even if you bank elsewhere
You don’t need to be with us to open this account.
In KBC Brussels Touch, KBC Brussels 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 Brussels 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 Brussels 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 Brussels Security Deposit Savings Account, but instead can open a standard savings account as third-party collateral.
The KBC Brussels 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 Brussels Security Deposit Savings Account
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 Brussels 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 990 euros of interest earned each year (2020 figure).
Free savings account
No charge for opening and managing the account.
The KBC Brussels 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 Brussels branch or from www.kbcbrussels.be/depositprotection.
Access your security deposit any time
You don’t need to be with us to open this account. 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 Brussels Touch or KBC Brussels 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
Having trouble advancing your security deposit? Then you can apply for an interest-free security deposit loan at the Vlaams Woningfonds for your rented home in the Flemish Region (website in Dutch only).
In this case, however, you can't open a security deposit account
online. When you apply for a security deposit loan, you’ll need to
provide proof that you’ve opened a security deposit account in your
name at a financial institution. This can be obtained solely at your
KBC Brussels branch.
Releasing funds on a security deposit account
A KBC Brussels Security Deposit Savings Account is opened when the lease starts and the deposit is released at the end of the lease by:
- written agreement between you and your landlord
- court order (small claims court)
You no longer have to go to the branch where the account is held to unfreeze it. Instead, you can make an online request to have your security deposit released. Just scan or take a photo of the completed and signed release document, the lease contract and the landlord's ID card (or copies of each landlord's card if the property is jointly owned) and forward them to us in KBC Brussels Touch or KBC Brussels Mobile . The amount of the security deposit will then be returned to you, plus interest.
Please read these documents before you open a savings account.