Saving for young people
Choose the best savings account for your child
Do you want to teach your child to manage their money while retaining control of their savings? You can do so now with the ING Green Savings Account and the ING Orange Savings Account, two free of charge accounts that you manage online or in branch.
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Controlled management
You teach your child to save money while retaining control of their account until they reach 18.
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Secure savings
Your child’s savings are protected by law up to an amount of 100,000 euros by the deposit guarantee scheme (PDF).
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Free of charge
You pay nothing to open and manage these online savings accounts.
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Flexible
Opening and managing an account
Would you like to teach your child to save money while retaining some control over their savings account? If so, these accounts are right for you. With the ING Orange Savings Account, your child cannot access their savings before they turn 18, except with your authorisation. With the ING Green Savings Account, your child may access their savings under your control.
There is no fee to open and manage these savings accounts. Transfers are free of charge too. You carry them out yourself online or on your smartphone or tablet. Do you have an ING Current Account linked to your savings account? If so, you can also carry out your transfers at a Self'Bank terminal.
Do you hold one of these savings accounts and would like to close it? Here is how you close a savings account online.
Periodically or every month, 0 euros or 10 euros, or even 100 euros at a time. You decide! For 1 month, 1 year, 10 years, and so on. Or for as long as you wish. You or your child can transfer money online via internet, on smartphones or tablets, at a Self'Bank or ING branch.
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You have access to the capital up until your child’s 18th birthday
You have access to your money until your child turns 18. Transfer it to your current account – it's that simple! On your child’s 18th birthday, the young person’s savings account becomes the full property of your son or daughter and you no longer have guardianship of it.
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Your child’s money is secure
These two accounts are regulated savings accounts governed by Belgian law, and the law does not allow negative interest to be charged to this account. Therefore, ING will not do this.
What would happen if ING went bankrupt?
Your savings are protected up to 100,000 euros by the deposit guarantee scheme. The remainder is not covered. The capital of the amount of receivables held at the financial institution may be lost or reduced/converted to shares (bail-in). For more information please read Key Information for Savers, ING Green Savings Account (PDF)and ING Orange Savings Account (PDF).
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You do not pay tax on your interest
If the interest on the savings account is less than 960 euros, you will not pay the 15% withholding tax.
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We automatically pay your interest into your savings account
The basic interest will be transferred annually on 1 January.
The fidelity premium is obtained after 12 consecutive months. This interest is paid every 3 months on set dates: 1 January, 1 April, 1 July and 1 October. You can monitor your account balance and interest easily on your bank statements, in Home’Bank and via our smartphone and tablet apps.
The terms and conditions of the ING Green Savings Account (PDF) and ING Orange Savings Account (PDF) are simple and clear. This page contains all necessary information. However, before opening an account, we advise you to read these useful documents so you are aware of all the details.
Essential information for savers:
Everything you need to know about ING Green Savings Account and ING Orange Savings Account
These free of charge accounts are open-ended, regulated savings accounts. There is no minimum amount to be paid into your account when you open it. Likewise, you are free to transfer the right amount for you into your account: there is no maximum amount.
The basic rate is 0.01% and the fidelity premium is 0.10%. These interest rates are expressed on an annual basis and may be adjusted at any time. You can find the current rates online and in all ING branches. If the rate changes, we inform the account holders via their bank statements. You can view your account balance easily either on your bank statements, in Home'Bank or via the smartphone and tablet apps.
If the interest you earn does not exceed 960 euros, you will not be liable to pay withholding tax. If the interest you earn does exceed 960 euros, you will pay withholding tax at a rate of 15% (per taxpayer for the 2019 tax year, based on 2018 income).
What happens if a financial institution goes bankrupt?
The first 100,000 euros of your savings are protected by the deposit guarantee scheme (pdf). The capital of the amount of receivables held at the financial institution may be lost or reduced/converted to shares (bail-in). For more information please read Key Information for Savers for the ING Green Savings Account (PDF) and Key Information for Savers for the ING Orange Savings Account (PDF).
Not completely satisfied?
Contact us online: www.ing.be/complaints, call us: +32 2 464 60 04 or send us a letter: ING Complaint Management, Cours Saint-Michel/Sint-Michielswarande 60, 1040 Brussels.
Have you already been in touch with ING? You can also contact Ombudsfin, North Gate II, Avenue Roi Albert II 8, 1000 Brussels, call +32 2 545 77 70 or send an email to ombudsman@ombudsfin.be.
This account makes saving really easy. However, before you open this account, we advise you to read the following documents:
- ING Green Savings Account and ING Orange Savings Account Regulations (PDF)
- Key Information for Savers for the ING Green Savings Account (PDF)
- Key Information for Savers for the ING Orange Savings Account (PDF)
- General Information regarding Accounts and Cards (PDF)
- Charges applied to the main banking operations of private individuals (PDF)
- Deposit guarantee scheme information sheet (PDF)
These documents are always available free of charge on our website and in all ING branches.
ING Belgium SA/NV, a company under Belgian law – Registered office: avenue Marnix/Marnixlaan 24, 1000 Brussels – Belgium
*Offer valid for all children between 0 and 9 years old’s first savings accounts (subject to authorisation by the minor’s legal representative) opened with ING Belgium (subject to acceptance by ING Belgium and to mutual agreement) between 09/04/2018 and 27/05/2018 inclusive. Offer valid while stocks last (5,000 kits). The supporter’s kit contains four items in the Red Devils’ colours and a CE approved soft toy. Offer limited to one supporter’s kit per child and per account opened. The kit will be delivered by B-Post to the main account holder’s postal address within two weeks of the opening of the savings account. Offer cannot be combined with other offers. For more information, visit ing.be/contest (« Red Mascot” Action – Savings Accounts BPMR170037 »).
Not yet a customer?
You can open your ING Green Savings Account or ING Orange Savings Account at any ING branch.
ING branch finderIs your child aged 12 years or over?
Remember to have their ID card to hand when you open the account