Changes to the Savings account terms and conditions

Hello bank! (BNP Paribas Fortis) is making some changes to the terms and conditions that apply to its Savings account (standard savings account). These changes reflect market conditions and take the persistently low interest rates into account.

The introduction of a ceiling or cap for the Savings account will not have any impact whatsoever for more than 99% of Hello bank! and BNP Paribas Fortis clients. Less than 1% of them will be affected. We will analyse their financial status with them and will help them to find suitable alternative solutions, at their discretion.

How will this affect savers ?

Balance capped at EUR 250.000

From 1 April 2022, the balance of the Savings account will be capped at EUR 250.000. Currently there is no ceiling in place.

What this means for you: if the balance of your Savings account is greater than EUR 250.000 at the end of the day on 1 April 2022 (accounting date), the amount in excess of this authorised ceiling will be deposited into another existing account (Deposit account) or, failing that, into an account that is opened specifically for this purpose, with the same exact management parameters as the Savings account from which the transfer originated: same account holder or joint holder(s), same representative(s), same limits in terms of management powers, etc.

This new account will immediately be displayed in the list of your accounts on the Hello bank! website and app and in Easy Banking Web and the Easy Banking App, where it will be directly accessible at any time. You will find all the information relating to this account in “Features of the Deposit account” section.

One Savings account per account holder

Starting on 17 January 2022, the bank limits the number of Savings accounts to one account per holder or joint holder. The same holder or same joint holders may thus only open one Savings account, either with BNP Paribas Fortis or Hello bank!.

You may, however, open several Savings accounts provided that each of these accounts has different holders.

What does this mean? Mr and Mrs Dupont-Durand can open three separate Savings accounts:

  • an account in the name of Mr Dupont
  • an account in the name of Mrs Durand
  • an account in the name of Mr and Mrs Dupont-Durand.

This limitation on the number of accounts per holder/joint holder does not apply to standard Savings accounts that were opened before 17 January 2022. From 17 January 2022, however, they will be taken into consideration for the application of this limitation if a new Savings account is opened.

Interest income

The interest rate of the savings account will remain the same: 0,01% base rate + 0,10% fidelity premium. This shall apply to the balance of the account, which is capped at EUR 250.000.

The Deposit account into which the amount in excess of the authorised ceiling of EUR 250.000 is paid has a zero interest rate (0%). You will find all the information relating to this account in “Features of the Deposit account” section.

Indemnity to compensate the loss of the fidelity premium

If the balance of a savings account is greater than EUR 250.000 at the end of the accounting day on 1 April 2022, the amount in excess of the applicable ceiling will be transferred to another account.

The fidelity premium(s) that you are in the process of acquiring for this amount will not be paid. To ensure that clients are not adversely affected, BNP Paribas Fortis has, however, decided to pay them commercial compensation, by way of indemnity. This will be deposited (within 2 months) into the same account to which the amount in excess of the ceiling was transferred.

This commercial compensation will be calculated based on the start of the annual acquisition period of this fidelity premium.

What does this mean?

  • If the annual acquisition period started before 17 January 2022, the commercial compensation will be equal to the full fidelity premium (as if the transferred amount had remained in the account for 12 consecutive months);
  • If the annual acquisition period started on or after 17 January 2022, the commercial compensation will be calculated pro-rata temporis, i.e., from the beginning of the acquisition period until 1 April 2022.

From a tax standpoint, this commercial compensation constitutes interest and shall therefore be subject to withholding tax on income from movable property (currently 30%).

Savings account included in an investment contract

From 1 April 2022, the amount in excess of the EUR 250.000 ceiling for a Savings account included in an investment contract will be transferred to the current account included in the same contract, provided that this current account has the same management powers. In the absence of such a current account, the amount in excess may be deposited into an existing non-regulated savings account (Deposit account) or a Deposit account that was specifically opened for this purpose under the investment contract.

After 1 April 2022

If, following any credit transaction whatsoever (new deposit, payment of interest income, automatic savings, etc.), the balance of the savings account is greater than EUR 250.000, the amount in excess of the ceiling will be made available according to the same principle set out above.

Savings accounts that are not affected by these changes

The following regulated savings accounts are not affected by the aforementioned changes:

  • “Hello4You” savings accounts;
  • rental guarantee deposit savings accounts;
  • blocked regulated savings accounts (pledging, following court orders, ...).

Similarly, non-regulated savings accounts, such as the Deposit account, are not capped, nor is there a limit on the number of accounts that you can open.

Features of the Deposit account

The balance of a Savings account in excess of the authorised ceiling is transferred to a Deposit account. This is a non-regulated savings account, subject to Belgian law, marketed by BNP Paribas Fortis (société anonyme/naamloze vennootschap established at Montagne du Parc/Warandeberg 3, B-1000 Brussels). This account is a product of indefinite duration and is used to keep cash that will be moved in the short or medium term. No ceiling applies and a negative balance is not allowed. There are no charges for opening and managing a Deposit account (with the exception of any postal charges if your account statements are sent to you by post). Please refer to the List of Fees of BNP Paribas Fortis for more information.

Return: a non-regulated savings account is not required to offer a legal minimum base rate or to pay a fidelity/growth premium. The applicable base rate and the rate of the fidelity/growth premium (from 01.01.2022) are zero (0%) for this account. These rates are subject to change at any given time. Clients will be notified of this beforehand in their account statements.

Tax: should there be a positive interest rate, the interest paid is not tax-exempt and a withholding tax of 30% will be due.

Risk: funds deposited in regulated or non-regulated savings accounts with BNP Paribas Fortis are covered by the deposit protection mechanism up to a maximum of EUR 100.000 per person. Should the bank go bankrupt or risk going bankrupt, the saver's savings in excess of EUR 100.000 may be converted into shares (bail-in) or be partially or completely lost. More information about this is available in the Deposit Protection Information Sheet.

We recommend that you read the precontractual information relating to the Deposit account, which is included in the Specific terms & conditions for the Savings Account carefully.

Any complaints should be sent to BNP Paribas Fortis – Complaints Management – Montagne du Parc/Warandeberg 3, B-1000 Brussels. If you are unhappy with the solution proposed by the bank, you can send your complaint to Ombudsfin - Ombudsman in Financial Matters (

Summary of important documents

There is no key information document for a non-regulated savings account.

More information

If you have any questions about the impact of these new terms and conditions on your Savings account(s) and/or if you are looking for alternatives to traditional savings accounts, call our BNP Paribas Fortis colleagues on +32 (0)2 433 41 62 (Monday to Friday from 7 a.m. to 10 p.m. and on Saturdays from 9 a.m. to 5 p.m.).