ING Long Term Account
Enjoy up to 10 years of guaranteed return!
Do you want to invest your money long-term with an interest rate, term and return that are set in advance? Do you want to recover the capital and the interest at maturity? This is what ING is offering you with its free term account, from 1 to 10 years!
A fixed interest rate
You know your return from the very beginning: The interest rate is set in advance and does not vary.
Up to 10 years
You choose the term of your savings, from 1 to 10 years.
Your money is completely secure
This account is subject to Belgian law. Your savings are protected by the deposit guarantee scheme (up to a maximum of 100,000 euros).
Do you have some money set aside that you won’t miss for a few years? An ING Long Term Account may well be for you! This non-regulated savings account is just as safe as a regular savings account but with a potentially higher return because you leave the money on the account for the entire term. You therefore cannot access your money until the end of the term. You make one deposit as a lump sum at the beginning and receive the entire amount at maturity. Interest is paid annually on the validity date. It is possible to renew a term account at maturity.
You can view your account balance easily on your bank statements and in Home'Bank.
You do not need to visit an ING branch to open this account
You can open your ING Long Term account in Home’Bank or at your ING branch. Anyone aged 18 years or older who has an ING current account or an investment account may open an ING Long Term Account. If you are aged under 18, however, your parents or legal guardian must open the term account. Are you already an ING customer? Open the term account easily and quickly in Home’Bank.
You have no fees to pay
To open and manage this account costs you nothing.
You know the return you will receive from the outset. The interest rate is set in advance and depends on the amount in the account, the currency and the term. It remains the same for the entire savings period.
You choose the term from 1 to 10 years. The interest is calculated from the first to the second-last day of the savings term.
You decide how much you wish to save, starting from a minimum amount of 1,000 euros. Above this amount, you decide how much you want to pay into the account.
At maturity, we automatically pay the interest into the ING current account or the ING investment account linked to your ING Long Term account. You can monitor your account balance and interest easily on your bank statements, in Home'Bank, and via our apps for smartphone and tablet.
Do you want to extend the term? If so, you can also leave the interest in the account, so that your savings earn you even more.
You need not declare any interest earned for personal income tax purposes. You pay 30% withholding tax on the interest earned from your ING Long Term Account. This withholding tax is “in full discharge”. This means that you do not need to state it in your tax return for personal income tax.
This non-regulated savings account is subject to Belgian law.
What would happen if ING were to go bankrupt? Your savings are protected up to 100,000 euros by the deposit guarantee scheme (PDF). 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). Review your legal protection as an ING customer.
This is a straightforward term account. This page contains all the necessary information. However, before opening an account, we advise you to read these useful documents so you are aware of all the details.
Everything you need to know about this savings account ING Long Term Account
This free of charge, online account is a non-regulated savings account and is subject to Belgian law. The term is from 1 to 10 years. It is designed for individuals with an ING current account or an ING Invest Account.
The interest rate is fixed depending on the term of the account. You will find the current rates online and at all ING branches. You can view your account balance easily on your bank statements, in Home'Bank and via the smartphone and tablet apps.
|Annual gross interest rate*|
|Term||1 year||2 years||3 years||4 years||5 years||6 years||7 years||8 years||9 years||10 years|
*These gross interest rates are before any fees and/or taxes that may be applicable.
You pay a withholding tax of 30% on the interest earned
You must deposit a minimum of 1,000 euros when opening your account. There are no management fees. Your money is not available before the end of the term. It is possible to renew the term account upon maturity.
What happens if a financial institution goes bankrupt? Of your savings, the first 100,000 euros are protected by the deposit guarantee scheme (PDF). Above this protected amount, the guarantee no longer applies. The capital of the amount of receivables held at the financial institution may be lost or reduced/converted to shares (bail-in). Please note: the deposit guarantee scheme only applies to private individuals, associations and small and medium-sized businesses.
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 contacted ING? You can now contact Ombudsfin, the financial dispute ombudsman, by telephone on +32 2 545 77 70 or by e-mail to firstname.lastname@example.org.
Before you open this account, we advise you to read the following documents:
These documents are always available free of charge on our website and in all ING branches.