KBC Savings Account for Third Parties for a baby on the way (Cat. A*)

1. Ideal as a gift account on your birth announcement card

If it isn’t your first child, chances are you’ll have trouble filling a baby wish list. Our kids account is a good alternative. Include the account number on your birth announcement card so your family and friends can help get your child off to a flying start.

2. Choose how much and how often you want to save

Want to set aside a larger one-off amount? Prefer to save by standing order? Rather deposit some money every now and then, like at Christmas or on your child’s birthday? The choice is yours. Our kids account is a very flexible way to save, as you decide how much to save and when.

Expecting parents can open this account for their unborn baby using our KBC Touch or KBC Mobile app. Just open a new savings account and select ‘My unborn baby’ as the person you want to save for.

Haven’t chosen a name for your baby yet? No problem. You can still open a kids account – even if you’re not yet sure what to call your child. Alternatively, just open your KBC Savings Account for Third Parties after baby is born.

There are two ways to release the savings:

• Set a date for your child to receive the money.
• Specify that your child only gets the funds when buying or building their own home Savings are automatically released on your child’s 30th birthday.

The savings account stays in your name once your little bundle of joy arrives, but you can register your baby as a beneficiary.

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 branch. If the rates change, we will inform you 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on the first calendar day after the transaction date and cease to earn interest from the calendar day on which they are withdrawn. This interest is paid into your account once a year (with a value date of 1 January) or when you close your account

.You receive the fidelity bonus for amounts that remain on the savings account for 12 consecutive full months called the ‘calculation period’. When funds are withdrawn, the accruing fidelity bonuses whose acquisition date is furthest in the future will be the first to be used.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 relevant savings accounts for 12 consecutive months.

Every time a fidelity bonus is acquired, a new 12-month calculation period will start. The fidelity bonus rate is the interest rate prevailing on the first day of a new calculation period. That rate is fixed and remains unchanged for the entire 12-month calculation period, except when the fidelity bonus is transferred proportionally. In that case, the fidelity bonus for the remaining period is the interest rate prevailing on the day the funds go into the receiving savings account.

The fidelity bonus will be paid into your account on 1 January, 1 April, 1 July and 1 October after being acquired in the preceding quarter. Any fidelity bonus acquired will also be paid when you close your account.

• Saves on tax
  Individuals who are resident in Belgium are exempt from 15% withholding tax, on the first 1,020 euros of interest earned each year (2024 income). Married couples and legal cohabitees are entitled to an exemption of up to 2,040 euros a year (income year 2024) on a joint account.
  
• Free savings account
  There are no charges for opening and managing the account. Receiving printed account statements by post, however, costs you 2.50 euros a month if they are sent monthly or 25 euros a month if sent daily.
  
• Access your money any time
  The KBC Savings Account for Third Parties is an open-ended product. The funds on your savings account can be withdrawn at any time and without charge. The third-party beneficiary contract linked to this account is for a fixed term: you have full say as to when the money can be released to the beneficiary.
• Regulated savings account
  The KBC Savings Account for Third Parties is a regulated savings account offered by KBC Bank NV, Belgium. It is governed by the laws of Belgium.
  

• 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.

Before opening a savings account with us, be sure to read our key information for savers.