Compare savings accounts
A comparison of savings accounts in Belgium is recommended. The savings account is the most popular savings solution in our country. Those who want to put money aside for a longer period of time usually use a savings account. There are various reasons for this. First of all, the money on most savings accounts is immediately available. There are, however, a few exceptions. Certain invoices work with a cancellation period. It is also very easy to open online savings accounts. Both a natural person and a legal person can open a savings account.
In addition, the money in a savings account provides extra income. The banks generally reward the savings efforts with a basic interest rate and a loyalty premium. These reimbursements may never be lower than 0.01 and 0.10 percent respectively. Only when the banks offer non-regulated savings accounts, they may deviate from those legal minima. Incidentally, it is not mandatory to give savers both a fidelity premium and a basic interest when they open an unregulated savings account.
Basic interest & fidelity premium
Savings earn a basic interest from the first day. As long as the money from the saver remains on a savings account, he will receive a basic interest. The saver will only receive a loyalty premium if the money remains in a savings account for at least a year. If he calls his savings deposits within twelve months, he loses his fidelity premium. After one year of saving, another one-year saving period applies.
The majority of savings banks in Belgium use the lifo principle (Last In, First Out). The bank argues that the saver uses his last deposits when he withdraws his money. In such a case, the saver does not immediately lose the fidelity premium on previous deposits.
Regulated savings account
The regulated savings accounts are the most common savings formulas in our country. Savings accounts in Belgium are subject to some legal provisions. To start with, savers with a regulated savings account must receive both a basic interest rate (at least 0.01%) and a loyalty premium (at least 0.10%).
In addition, the bank may not grant an interest rate that is higher than the regulated maximum interest rate. The base rate may now not exceed 3 percent. Only when the interest of the European Central Bank is higher, the banks may give a higher rate to their customers. The loyalty premium may not exceed half of the maximum base rate.
The savings income on a regulated savings account is exempt from taxes up to 960 euros. As soon as a saver earns more than 960 euros in interest, he must pay 15 percent withholding tax.
Unregulated savings account
Banks should not take into account the above minimums when they offer an unregulated savings account. In other words, the banks are free to determine whether or not they link a fidelity premium to a base interest rate. In addition, they are completely free to determine how high those savings revenues are. They therefore do not have to take legal minimum or maximum amounts into account. Savers have to pay taxes on the first eurocent they earn from their savings efforts. The tax authorities then collect 30 percent withholding tax.
Some savings banks in Belgium reward sustainable savers with so-called savings plans or savings subscriptions. In this way, savers are encouraged to set aside a fixed amount each month (or in some cases annually). Such savings formulas look different from the traditional savings accounts. The banks namely work with savings limits. For example, that can be 500 euros per month. If you want to open a savings account for unexpected expenses, it is therefore best to opt for one of the traditional savings accounts.
Savings plans are usually accompanied by a high fidelity premium and a modest basic interest rate. That is why such savings formulas are only interesting for savers who can miss their money for a longer period of time.
The savings are in any case protected by the deposit guarantee scheme. This protection measure protects savings up to 100,000 euros per person and per financial institution. If you want more information about the deposit guarantee scheme, you can consult the information sheet about the deposit protection on the site of the bank in question. In the document essential savers information you will find all the necessary information about the specific conditions of the savings account. This is especially interesting for those who open a savings account with a new bank.
Compare savings account
The rates and conditions of a savings account can vary considerably. That is why Christopher Robin has put all the savings accounts in a nice overview. This way you can easily compare savings accounts. Do you want to know which savings banks in Belgium offer a higher interest rate than your current savings account, or are you looking for an overview of all Belgian savings accounts with the highest interest rates? Do you save the best at Banca Monte Paschi Belgio, Hello Bank, Izola Bank, BNP Paribas Fortis or NIBC Direct? Or at Deutsche Bank, Triodos Bank, Bpost Bank or perhaps at Keytrade Bank?
Thanks to our comparison you immediately know which bank has the best savings account on the market for you. We also guarantee the accuracy of the interest rates because we monitor the rates daily and adjust if necessary.
Do you want to know which other savings products might better suit your personal wishes, such as the Tak21 Savings Insurance, then read and compare these on our site. If you want to save for your pension in a tax-efficient way, then read on Christopher Robin everything about the pension savings insurance and the pension savings fund. You can read everything about the third way to save for your pension in a tax-efficient way, long-term saving.
You cannot start saving early enough, so you can also compare all savings accounts for children on Christopher Robin.
Own company? Even then you are in the right place at Christopher Robin: compare all savings accounts for companies and find the savings account that best suits you and your company.
Looking for a loan? Then certainly compare the personal loans or mortgage loans on our site. Even those who are interested in merging loans have come to the right place at Christopher Robin.
Interest rates and product conditions change regularly. Because reliable comparisons are only possible on the basis of current data, the product information (such as interest data) that we provide is often updated daily, or as often as necessary.