The interest rate depends on the amount, tenor, currency and market conditions. When opening online, the proposed interest rate will appear on the screen before you have to confirm the opening request. For other tenors, given the number of possible combinations, you can contact your branch or the call centre to get an indication of the rate applied.
Only the currency "Euro" is available online. The following currencies are available in branch: Euro, US Dollar, Pound Sterling, Swiss Franc, Swedish Crown, Norwegian Crown, Danish Crown, Canadian Dollar, South African Rand, Yen, Australian Dollar, New Zealand Dollar.
The interest rates are expressed on an annual basis, before deduction of withholding tax, and are valid for the entire duration of the chosen term.
"}},{"componentType":"sectionTitle","title":"Charges"},{"componentType":"paragraph","richBody":{"value":"Opening, managing, and closing an ING Term Deposit Account at the end of the specified term is completely free. During the first 14 days after opening, you retain the right to close the account free of charge. No interest will be paid if the account is closed within this period. After this period, closure is no longer possible.
"}},{"componentType":"sectionTitle","title":"Taxation"},{"componentType":"paragraph","richBody":{"value":"Interest is subject to a 30% withholding tax, which is automatically deducted at source by ING.
This tax regime applies to private (non-professional) customers residing in Belgium. Different tax treatments may apply to other individuals.
Important information: capital gains tax
This information is provided to you subject to any modifications that may be made, within the framework of the legislative procedure, to the proposal drawn up by the Government.
From 1 January 2026, new Belgian tax regulations will make capital gains on the sale of “financial assets” taxable. Among other things, these assets include cash holdings in foreign currencies (currencies other than the euro). Foreign exchange gains will be treated for tax purposes as capital gains taxable at a rate of 10%.
Taxpayers subject to taxation in Belgium are liable for this new tax:
As for the banking products concerned, term accounts in foreign currencies would be affected, but not current accounts in foreign currencies.
What this means for you:
Under no circumstances will the bank withhold this 10% tax at source: Belgian tax regulations do not provide for this. It is the responsibility of the taxpayer to declare this income as required.
Special case: purchases made before 1 January 2026
For currency purchases made before 1 January 2026, the exchange rate applicable on 31 December 2025 will be used as a reference to calculate the gain or loss realised from 1 January 2026.
"}},{"componentType":"sectionTitle","title":"Risks"},{"componentType":"paragraph","richBody":{"value":"The ING Term account is an ING Bank Belgium SA term account. Belgian law alone applies.
Risk of bankruptcy: your savings of up to €100,000 are protected by the guarantee on savings deposits. In the event of ING going bankrupt or in the event of a risk of bankruptcy, you may lose savings in excess of this amount or be required to reduce/convert them into shares.
Inflation risk: rising prices (inflation) can have a negative impact on your purchasing power.
Foreign exchange risk: in the case of foreign currency term deposits, there is a foreign exchange risk.
"}},{"componentType":"sectionTitle","title":"Not entirely satisfied?"},{"componentType":"paragraph","richBody":{"value":"Not completely satisfied? Let our Customer Care Team know how we can resolve your issue.
All information can be found here: How do I file a complaint?
Not satisfied with how your complaint was handled?
To file a complaint and ensure faster processing, please use the complaint form on the Ombudsfin website: https://www.ombudsfin.be/en/file-a-complaint
Email (only if you experience issues with the form): ombudsman@ombudsfin.be
Please read the following documents before opening an ING Term Account:
No Key information for savers document is available for the ING Term Account.
"}},{"componentType":"sectionTitle","title":"How do I open a Term Account?"},{"componentType":"applicationProcess","steps":{"stepList":[{"title":"Sign in","body":"Using your ING card reader or the itsme® app"},{"title":"Request your term deposit","body":"Confirm your data"},{"title":"Confirm your request","body":"Receive a summary of your request and consult your term account in the ING Banking App or Home'Bank"}]}},{"componentType":"cta","textLink":{"url":"https://ebanking.ing.be/banking/mobile/accounts/open-term-deposit-private?EW=True","text":"Open this account"}},{"componentType":"sectionTitle","title":"Frequently asked questions"},{"componentType":"accordion","accordionList":[{"title":"What is a term account?","richBody":{"value":"A Term Account is an account on which you deposit a fixed amount for a fixed period of time. At the end of that period the capital and interest will be automatically paid to the ING account of your choice (e.g. current account, savings account or invest account). You get a fixed interest rate.
ING Term Accounts are linked to a reference account (ING Current Account or ING Invest Account). The titular holders, the proxy holders, as well as the powers of attorney, linked to the ING Term Account are identical to those linked to the reference account. At term, interest is paid into this reference account. For terms of more than one year, you automatically receive interest at the annual maturity date.
Once opened, you can easily check the balance of your ING Term Account on your smartphone via the ING Banking app, on your computer with Home'Bank or at a branch.
"}},{"title":"What is the difference between a savings account and a term account?","richBody":{"value":"It is not possible to deposit money into a term account. However, you can open multiple term accounts with different amounts and durations at the same time.
"}},{"title":"Can you withdraw money from a term account?","richBody":{"value":"It is not possible to withdraw money during the term of the term deposit.
During the first 14 days after opening, you retain the right to close your ING Term Account free of charge. After this period of fourteen days, the ING Term Account can no longer be closed early.
"}},{"title":"Can I transfer funds that I have in an account at another bank to an ING Term Account?","richBody":{"value":"You can transfer money from your account at another bank to your ING current account or ING Invest Account. Money available at ING can be used when opening an ING Term Account.
"}}]}]}}}