Savings account

What is a savings account?

A savings account is an account that lets you deposit and withdraw money while earning interest on the balance. It can be opened and managed online once you have a bank account.

Unlike a current account, which is mainly intended for daily spending, a savings account is designed for medium to long-term saving. They offer higher interest rates as a result.

The amounts saved are not subject to market fluctuations. Plus, the funds deposited are protected by the Deposit Guarantee up to €100,000 per saver and per institution. You can therefore build up your savings gradually, with complete peace of mind.

Savings account in EUR and foreign currencies

At BGL BNP Paribas, you can open a Youth savings account in EUR and five foreign currencies (USD, CAD, GBP, CHF, AUD).

You can save for your projects in the currency you plan to spend, without having to worry about exchange rate fluctuations.

In addition to the base interest rate on all savings deposited into your account, our euro-denominated accounts offer additional interest opportunities during specific promotions. To view the current interest rates on savings accounts, see our terms and conditions.

Saving made simple with standing orders

You’re free to make deposits into your account as often as you like, either as a one-off when you’ve got some money left over, or through standing orders, to build your savings without having to think about it.

For example, if you schedule a monthly €200 deposit for ten years, you will have built up capital of €24,000, plus any interest earned by the savings account.

You can set the amount and frequency of your standing order based on your goals, and can cancel or modify it at any time via Web Banking.

Savings account:

Building up a safety net

A financial safety net is a cash reserve you can access at any time and use to cover unexpected costs. The benefit of a savings account is that it’s secure and funds can be accessed quickly if needed.

Find the right savings product for you

To find the right investment option for your savings goals, you need to define your objective:

- Building up a safety net

- Financing your studies

- A real estate project

- Financial protection for loved ones

- Reducing your tax bill while building a comfortable pension

Your needs and goals will determine which savings product is best suited to you.