KBC, KBC Brussels and CBC increase interest rates on time deposit accounts in euro with a maturity 6 and 13 months.

After thorough internal debate but responding to current market conditions and in order to offer customers a better return on their cash reserves that they can do without for a longer period of time, KBC, KBC Brussels and CBC are temporarily changing the interest rate on the time deposit accounts in euro with a maturity of 6 and 13 months. ​ This offer is subject to conditions (*) and valid from 04/09/2024 to 15/09/2024.

For the KBC/CBC Time Deposit Accounts in euro with a maturity of 6 and 13 months , opened during the period mentioned above, the gross interest rate expressed on an annual basis is:

• 4.00% for the KBC/CBC Term Account 6M start 1609 ​
  ​(This is net 2.80%, after deducting 30% withholding tax. For 6 months, this is 2.01% gross, which is 1.41% net)
  ​
• 3.80% for the KBC/CBC Term Account 13M start 1609
  ​(This is net 2.66%, after deducting 30% withholding tax.)

The current rates are available on request from the branches of KBC, KBC Brussels and CBC or via KBC (Brussels) and CBC Live.

All these term accounts are governed by Belgian law.

(*)Terms and conditions of this offer

You may only subscribe with ‘fresh money’. This corresponds to the net increase in funds on personal KBC accounts (current accounts, savings accounts, time deposit accounts and investor’s accounts) held in your name or jointly with someone else, between 5 p.m. on 30 August 2024 and the date on which you subscribe to the new KBC/CBC Time Deposit Account 6M start 1609 or KBC/CBC Time Deposit Account 13M start 1609 product (inclusive).

The minimum subscription amount for these term accounts is EUR 500.

KBC/CBC customers who have already subscribed in the past period to a Forward or Forward plus Time Deposit Accounts with a term of 6 or 12 months, will receive a personalized communication with adjusted returns.

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. ​ These costs amount maximum to 0.75% of the outstanding capital, but this cost can change at any time. In that case, it is not certain that customers will fully recover their initial capital.

Risks

Insolvency risk:

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.

Inflation risk:

Time deposit accounts also have an inflation risk, as sustained price increases can result in the amount deposited losing value.

Complaints

Your bank branch is the first point of contact for your complaints. If you cannot reach an agreement, you can contact KBC Complaint Management, Brusselsesteenweg 100, 3000 Leuven, klachten@kbc.be, tel. 016 43 25 94; CBC Gestion des plaintes, Avenue Albert 1er 60, 5000 Namur, gestiondesplaintes@cbc.be tel 081 80 31 63.

If you do not reach an appropriate solution, you can contact Ombudsfin vzw, North Gate II, Koning Albert II-laan 8 bus 2, 1000 Brussels, ombudsman@ombudsfin.be, www.ombfin.be.

More information

No key information for savers document is available for these time deposit accounts.

Time deposit account - KBC Banking & Insurance

Time deposit account - KBC Brussels Bank & Insurance

Compte à terme - CBC Banque et Assurance