* The KBC Brussels Security Deposit Savings Account is a ‘category A’ savings account: a traditional savings account without any additional conditions.
A security deposit is an amount that you, as the tenant, usually pay into a blocked account at the beginning of your lease. If you comply with all the obligations in your lease, you’ll get your security deposit back when the lease ends.* If the rented property has been damaged, the landlord may use some or all of the deposit to cover the repairs.
If you’re planning to rent a house or flat, the KBC Brussels Security Deposit Savings Account is a good idea. Why? Because landlords usually require a security deposit. By putting this on a blocked savings account, neither you nor the landlord can touch it for the duration of the lease.
You can also open aKBC Brussels Security Deposit Savings Account when renting student accommodation, a service flat, a room in a nursing home or a parking space. In other situations (e.g., commercial leases), you can't use a KBC Brussels Security Deposit Savings Account, but instead can open a standard savings account in your branch as third-party collateral.
The KBC Brussels Security Deposit Savings Account is a regulated savings account offered by KBC Bank NV, Belgium. It is governed by the laws of Belgium.
You don’t need to be with us to open a security deposit account, but you do need a Belgian ID card. Simply open the account through our website to start using it right away and we’ll e-mail your landlord to confirm everything if you like.
Bank with us and you can quickly open the account in KBC Brussels Mobile or KBC Brussels Touch. That could come in handy if your landlord only wants to give you the keys after arranging the security deposit.
| Base rate of interest | 0.45% |
| Fidelity bonus | 0.45% |
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 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on the first calendar day after the transaction date and cease to earn interest from the calendar day on which they are withdrawn.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’.
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.
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.
You open a KBC Brussels Security Deposit Savings Account when the lease starts and the deposit is released at the end of the lease by:
You no longer have to go to a KBC Brussels branch to ask for the deposit to be released. Instead, you can do it easily in our app by scanning or taking a photo of the completed and signed release document, the lease and the landlord's ID card (or copies of each landlord's card if the property is jointly owned) and forwarding them to us in KBC Brussels Mobile or KBC Brussels Touch. If everything is in order, we return the amount of the security deposit (plus interest), ensuring it is divided up as agreed.
Tenants in Flanders and Wallonia must have property insurance (i.e. home insurance) if the rented property is their main residence. Read the Insurance Information Document carefully before taking out this insurance. More information on property insurance.
Please read these documents before opening a security deposit savings account.
If you’re planning on renting and need to arrange a security deposit, just tell Kate: ‘I want to open a security deposit savings account’. You can find Kate, your digital assistant, in the top-right corner of KBC Brussels Mobile.
How to arrange the security deposit for your tenant(s)
Looking to rent out your house or flat? Help your tenant out and recommend that they arrange their security deposit online in just a few steps – it couldn’t be easier!
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