ING Belgium announces interest rate on its 6 and 12-month promotional ING Term Account
Brussels - ING Belgium announced today that the gross annual interest rate for its promotional ING Term Account is 3,80%, for both the 6 and 12-month term. This corresponds to a net interest rate of 1,33% for a term of 6 months and a net interest rate of 2,66% for 12 months. As of today and until 29 September 2024 anyone can apply to open a promotional ING Term Account. They can do it from the comfort of their home, 100% digital via the ING Banking app or Home’Bank, or in an ING branch. This initiative is another example of the bank’s ambition to make the savings and investment market accessible to all.
We are proud to announce today our best possible fixed gross annual interest rate of 3,80%. With our term account we strive for simplicity and accessibility. This offering fits seamlessly with our mission 'empowering people to stay a step ahead in life and in business', by protecting and growing the financial prosperity of all our customers. Sali Salieski, Head of Retail & Private Banking at ING Belgium
As of today until 29 September 2024 customers can open a promotional ING Term Account (with or without pre-registration). This term account differs from other savings and investment products because of the promotion that preceded it. Between 5 July and 25 August 2024, everyone had the opportunity to pre-register and thereby receive a gross annual interest rate of 0,20% on top of the 3,80% for opening a promotional ING Term Account. The pre-registration was flexible and non-binding, with no obligation or penalty if the person decides not to open a term account after all. As a result, those who pre-registered (and only they) will benefit from a gross annual interest rate of 4% thanks to this bonus. This corresponds to a net interest rate, with bonus, of 1,40% for a 6-month term and a net interest rate, with bonus, of 2,80% for a 12-month term. In the event of early closure (before the end of the term), the customer will receive their capital, but no bonus or interest.
Find out more about the ING Term Account at http://ing.be/ing-term-account
Interest rate on the promotional ING Term account |
|
|
|---|---|---|
| 6 months (semi-annual rate) | 12 months (annual rate) |
Effective gross rate | 1,90% | 3,80% |
Effective net rate | 1,33% | 2,66% |
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About the promotional Term Account
Conditions The amount eligible for this action corresponds to the net increase in funds on your ING current accounts, ING savings accounts, ING term accounts and ING Invest Accounts for private use and of which you are the holder or joint holder between 01/07/2024 at 19:00 and the day you request the term account part of the promotion. The minimum amount to invest is €250 and the maximum amount €2.500.000. There is no Key Investor Information Document for the ING Term Account.
Charges Opening, managing and closing an ING Term Account at the end of the specified savings period is completely free of charge. You have the right to close your ING Term Account free of charge up to the maturity date of the term account. In the event of early closure, you will not receive the interest nor the additional bonus.
Taxation Interest is subject to a 30% withholding tax. This is withheld at source by ING. This tax regime applies to individuals resident in Belgium. Different tax treatment may apply to other individuals.
Risks The ING Term Account is a term account from ING Bank Belgium SA/NV. Belgian law applies. Bankruptcy risk: your savings are protected up to 100,000 euros by the deposit guarantee scheme. In case of an ING bankruptcy (or imminent bankruptcy), you may lose the savings above this amount or have to reduce/convert them into shares. Inflation risk: rising prices (inflation) can have a negative effect on your purchasing power.
Complaints Our Complaints Department and Ombudsman are there to help you. https://www.ing.be/en/individuals/services/complaint-handling
About ING
ING Belgium is a universal bank that offers financial services to private customers, companies, and institutional clients. ING Belgium SA is a subsidiary of ING Group SA, via ING Bank SA (www.ing.com).
ING is an international financial institution with a strong European presence and offers banking services through its operating company, ING Bank. ING’s goal is to ensure that everyone is always one step ahead in both their private and professional lives. With more than 60,000 employees, ING provides retail and corporate banking services to the bank’s private customers in more than 40 countries.
ING Group shares are listed on the stock exchanges of Amsterdam (INGA NA, INGA.AS), Brussels and New York (ADR: ING US, ING.N).
Sustainability is an integral part of ING’s strategy, as evidenced by ING’s leading position in industry benchmarks. ING’s Environmental, Social and Governance (ESG) rating by MSCI was confirmed to be “AA” in July 2023. Since December 2023, Sustainalytics has considered ING’s management of material ESG risks to be “strong”. ING Group shares are also included in the leading sustainability and ESG index products of leading providers Euronext, STOXX, Morningstar and FTSE Russell.