Savings accounts

1 October 2020

Rental guarantee deposit

Open or release your rental guarantee deposit

Almost everyone who wishes to rent a property has to pay a rental guarantee deposit. By depositing the amount in a blocked savings account in your name is the most usual way. Moving out and you leave the property in good condition, it will be refund to you.

How do I open an account for my rental guarantee deposit?

ING does not currently have a digital solution to open a rental guarantee account. However, a free online solution is available via the Ministry of Finance website – MyMinFin – via the following link*:

https://finances.belgium.be/fr/particuliers/habitation/location/garantie-locative

Do you hve an ING current account and have your income domicilied there and you would like to open a rental guarantee account with ING ? Please make an appointment with your branch.

Do you have the insurance you need? This is the right time to review your insurances. Click here.

*This bank guarantee is offered exclusively by the Ministry of Finance (subject to its acceptance). ING Belgium does not play an intermediary role, receives no remuneration or commissions, and cannot provide any guarantees in this respect.

How do I arrange the release of my rental guarantee deposit?

There are 2 ways to have your rental guarantee deposit released as a tenant:


  1. All parties are in agreement : i.e. everyone mentioned in the rental contract (Pay attention in case of multiple tenants or landlords);
  2. There is a Court Ruling or official statement (procès-verbal - proces-verbaal) of reconciliation which explicitly states what is to be done with the rental guarantee deposit.


Procédure:


When all parties have agreed about the unfreeze of the rental guarantee, they must complete the "Form Applying for Release of Rental Guarantee". This form is available via the following link.


This document must be printed, duly filled in and signed by all involved parties. Afterwards, you can choose between two options for the release of the rental guarantee:

  1. via post: by sending the original paper version to your ING Branch via post or by directly depositing it in the letter box of the branch.
  2. via email: by sending an e-mail to your ING branch including the following documents:
  • If you are a Private Individual, please include in attachment:
  • the “Form Applying for Release of Rental Guarantee” available via the following link, scanned and duly signed by each party (tenant(s) and landlord(s)); and
  • a scanned copy (recto, only) of the identity card (eID) or passport of each party (tenant(s) and landlord(s)); and
  • a scanned copy of either: a) the pages of the rental contract showing the names, addresses and signatures of each party (tenant(s) and landlord(s)); or b) the original blocking of funds agreement.

Attention points for Private Individuals:

  • The e-mail address you use to send the documents must already be registered in the ING database. If not the case, please update your data first (via ING Banking App, Home Bank, Kiosk, or ING Client Services with your Phone Bank code);
  • The release form must be signed by the same persons as mentioned in the original blocking of funds agreement;
  • If one of the parties is deceased, the appointed estate administrator is required to sign (in which case, we will need copies of the deed of appointment and of the Administrator's identity card);
  • Other legal representatives (like temporary administrators) who must then provide the necessary documentation (e.g. a power of attorney).


  • If you are a Legal Entity, please include in attachment:
  • the “Form Applying for Release of Rental Guarantee” available via the following link, scanned and duly signed by each party (tenant(s) and landlord(s)); and
  • a scanned copy (recto, only) of the identity card (eID) or passport of each party (tenant(s) and landlord(s)); and
  • a scanned copy of the by-laws (published in the “Moniteur Belge”); and
  • a scanned copy of either: a) the pages of the rental contract showing the names, addresses and signatures of each party (tenant(s) and landlord(s)); or b) the original blocking of funds agreement.

Attention points for Legal Entities:

  • The e-mail address you use to send the documents must already be registered in the ING database. If not the case, please update your data first (via Smart Banking App, Business Bank, Kiosk, or ING Client Services with your Phone Bank code);
  • The release form must be signed by the current statutory and legal representatives authorized to sign on behalf of the legal entity;
  • If the original signatories have been replaced during the course of the rental agreement, we will require documentary evidence (e.g. a copy of the appointment in the legal entity's articles of association / incorporation, along with copies of the new representative(s)' identity card(s)).


Remarque: it remains possible to release your rental guarantee by making an appointment with you branch in order for each party (tenant(s) and landlord(s)) to sign the release form.

The amount of the rental guarantee may only be released to either the tenant and/or the landlord, exclusively. The released amount can never be greater than the amount available on the Rental Guarantee account.