Free savings account for your child
- Save for your child at your own pace
- Funds accessible at any time
- Account in your child's name
Why open a KBC Brussels Savings Account for your child?
When you open a KBC Brussels Savings Account for your child, you're actually giving your little treasure a digital piggy bank. So, when a birthday or other special occasion comes around and family and friends want to make gifts of money, they simply transfer that money to the account.
- Individual transfers and automatic savings orders: you decide how much you save for your child and how you want to save. You can make individual transfers or you can set up an automatic savings order.
- Savings are always available: the money in the children's savings account is always available and earns interest until the day you withdraw it.
- In your child's name: the account is opened in your child's name right away. You can decide when you want to involve your child in managing the account, which serves as a valuable part of your child's financial education.
Gift: Bumba bath cape for your child
Got a child under 3 years of age and want to start saving regularly for them? We think that should be rewarded! Just set up an automatic savings order and we'll give you an original baby gift in the form of a Bumba bath cape.
Savings account earnings
|Base rate of interest||0.01%|
The rates shown are gross and annualised and can change at any time. Current rates are always shown above or can be obtained from your KBC Brussels branch. If the rate of interest changes, we will let you know in your account statements.
Savings account features
The KBC Brussels Savings Account is a regulated savings account offered by KBC Bank NV, Belgium. It is governed by the laws of Belgium.
- Free savings account
There are no charges for opening and managing a children's savings account. If you would like to receive account statements by post, it costs 2.50 euros a month if they are sent monthly or 25 euros a month if sent daily.
- Save on tax
Individuals are exempt from withholding tax (currently 15%) on the first 980 euros of interest earned each year (2022 figure).
- Accessible at any time
The KBC Brussels Savings Account is an open-ended product. The funds on your savings account can be withdrawn at any time and without charge.
- Capital protection and 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 the KBC Bank’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 Brussels branch or you can view it at www.kbcbrussels.be/depositprotection.