Hey bunqers 🌈, 

If you have a bunq account in Belgium, the interest you earn from your savings products — like your Savings Account or Term Deposit — is taxed under specific Belgian rules.

Here's a breakdown of exactly what you pay on your Savings Account, what you need to do, and how your money stays protected — so you always know where you stand.

Why do I pay taxes on my savings in Belgium?

Under Belgian law, your personal savings are classified as unregulated savings accounts. This is simply a tax category that affects how your interest is taxed, not how safe your money is.

Because these accounts are unregulated, all the interest you earn is subject to a 30% withholding tax. This applies to the following accounts if you reside in Belgium:

• Savings Account

• FX Savings Account

• Term Deposit

• Child's Savings Account

• Joint Savings Account

Important: bunq doesn't automatically withhold this tax for you. You're responsible for declaring any tax due yourself in your annual Belgian tax return.

What tax applies to my savings in Belgium?

Here's how your account is set up and supervised:

• bunq is a licensed European bank, supervised by De Nederlandsche Bank, and authorized to operate in Belgium.

• Your bunq savings products are governed by Dutch law.

• Under Belgian law, they're classified as unregulated savings accounts.

• A 30% withholding tax applies to all interest earned on unregulated savings accounts and term deposits.

Do I need to declare tax on my savings interest in Belgium?

Yes. You're responsible for declaring any tax due in your annual Belgian tax return. bunq doesn't automatically deduct this tax for you.

If you're unsure how to declare it, a local tax advisor can help you get it right.

Keep in mind: bunq doesn't provide legal or tax advice.

Is my savings balance protected?

Yes. Your eligible bunq balance is protected under the EU Deposit Guarantee Scheme (DGS), administered by De Nederlandsche Bank. This protection covers up to €100,000 in total across all your bunq accounts — meaning the limit applies to the combined balance you hold with bunq, not per account. Investments in stocks and crypto are not covered.

If your total bunq balance exceeds €100,000, only the amount up to that limit is guaranteed.

What about my bunq Business Savings account?

If you use bunq for your business, there's no specific Belgian tax regime that applies to business savings accounts in the same way as personal accounts. The interest on your Belgian business  is taxed depending on your business structure, your situation, and applicable Belgian business tax rules.

bunq doesn't provide legal or tax advice. We recommend speaking with a tax advisor or accountant who knows your business situation. They'll be able to tell you exactly what applies to you and what you need to declare.