KBC Savings Account for your child (Cat. A*)

* The KBC Savings Account is a ‘category A’ savings account: a traditional savings account without any additional conditions.

When you open a KBC 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. 

1. 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.
2. Savings are always available: the money in the children's savings account is always available and earns interest until the day you withdraw it.
3. 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.

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on the first calendar day after the transaction date and cease to earn interest from the calendar day on which they are withdrawn.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 When funds are withdrawn, the accruing fidelity bonuses whose acquisition date is furthest in the future will be the first to be used.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.

• 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 children's savings account with us, be sure to read our key information for savers.