Have your tenants arrange a security deposit with KBC

A security deposit is an amount that you (the landlord) instruct the tenant to pay into a blocked account at the beginning of their lease. It protects you – the owner – from costs, should the tenant damage your property or not pay the rent as agreed.

Although the security deposit is not a legal requirement, we still recommend including a security deposit in your rental contract. The amount may correspond to a maximum of three months' rent.

As a landlord, you can help your tenant arrange a security deposit with KBC.

It can be done entirely online in a few simple steps, saving you and your tenant a trip to a KBC branch. Your tenant doesn’t even need to be with KBC to open a security deposit account, but they do need a Belgian ID card or residence permit.

The security deposit becomes active immediately after completing the steps below.

• If you like, we can advise you when your tenant has paid the security deposit. Your tenant can also take out home insurance directly with us.
• As a landlord, you can suggest a security deposit for your tenant(s) for their house, flat, student accommodation, assisted-living facility, retirement home, or parking space. For any other type of property, the landlord and the tenant(s) will also need to drop by one of our KBC branches.

The KBC Security Deposit Savings Account is a regulated savings account offered by KBC Bank NV Belgium, and reserved for a security deposit.

It is governed by the laws of Belgium. Be sure to read the information at kbc.be/security-deposit-savings-account before opening the account,

as well as the key information for savers. This information is also available from your KBC branch.

You can submit any complaints you may have by e-mailing complaints@kbc.be, by calling 016 43 25 94 and/or by sending an e-mail to ombudsman@ombudsfin.be.

• Interest earned
  
  
  • Current rate: 0.45% base rate of interest and 0.45% fidelity bonus. 

These gross rates are 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 rates change, we will inform account holders of this by post or through one of our digital channels.

Savings start earning interest at the base rate on the first calendar day after the transaction date and cease to earn interest from the calendar day on which they are withdrawn. The fidelity bonus is awarded for amounts that remain on the savings account for 12 consecutive full months.
 

• Tax efficient
  Individuals are exempt from withholding tax (currently 15%) on the first 1,020 euros euros of interest earned each year (2024 figure).
• Free of charge
  There are no charges for opening and managing the account.
• Open-ended
  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.
• Risks
  
  
  • 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.
    

Please read these documents before opening a security deposit savings account.

You can submit any complaints you may have by e-mail to complaints@kbc.be, tel. 016 43 25 94 and/or ombudsman@ombudsfin.be.