For the KBC Time Deposit Accounts in euro with a maturity of 5 and 8 years, opened during the period mentioned above, the interest rate is:
- 2,60% at 5 years
- 2,90% at 8 years
The interest rates are gross rates (expressed on an annual basis). The current rates are available on request from the branches of KBC, KBC Brussels and CBC or via KBC (Brussels) and CBC Live.
Withholding tax and costs
The income generated is subject to Belgian withholding tax of (currently) 30% on the gross amount of the interest. Some investors may qualify for an exemption if they meet certain criteria. The tax treatment information applies to individual investors subject to Belgian personal income tax. The tax treatment will depend on your individual circumstances and may change in the future.
No entry or exit fees are charged to customers who hold the time deposit until maturity. However, if customers wish to sell the time deposit before the maturity date, the bank may buy it back if necessary (note: the bank is not obliged to buy back a time deposit). The value customers receive at the time of repurchase depends on the interest rates on the market and the costs charged by the bank at that time. In that case, it is not certain that customers will fully recover their initial capital.
A maximum of 100 000 euros of aggregate deposits held with KBC Bank (including KBC Brussels) are guaranteed per person, subject to certain conditions. In the event of KBC’s insolvency (e.g., if it goes into bankruptcy), customers run the risk of losing any deposits they have over 100 000 euros, or that amount could be reduced or converted into shares.
A maximum of 100 000 euros of aggregate deposits held with CBC Banque are guaranteed per person, subject to certain conditions. In the event of CBC’s insolvency (e.g., if it goes into bankruptcy), customers run the risk of losing any deposits they have over 100 000 euros, or that amount could be reduced or converted into shares.
Time deposit accounts also have an inflation risk, as sustained price increases can result in the amount deposited losing value.
No key information for savers document is available for these time deposit accounts.