FAQ

A regulated savings account is a savings account for natural persons, whereby the interests are exempt of withholding tax up to a certain amount. For income year 2009, the exemption amounts to a maximum of 1.730,- euro per person. The account is governed by the legal provisions of article 2, 4° of the Royal Decree on the implementation of the Income Tax Code 1992.

With the new rules, the legislator seeks to create more simplicity and transparency in the interest rate setting of the savings accounts. The growth premium is abolished. The interest rate consists compulsorily (of mandatorily) of a base interest rate and a loyalty premium.

The new legislation enters into force on April 1st 2009.

The new rules will apply to all existing and new regulated savings accounts and to all existing and new deposits.

As from 1 April 2009 the maximum legal base interest rate for your savings account is 3%. The maximum base rate can change twice a year on the basis of the ECB-rate, i.e. the
Interest rate applied by the European Central Bank for its basic refinancing transactions.

a. The ECB-rate is higher than 3%:
- For the first six months of the year, the maximum base rate is calculated on the basis of the ECB-rate that is valid on December 10th of the previous year.
- For the last six months of the year, the maximum base rate is calculated on the basis of the ECB-rate that is valid on June 10th of the current year.

In this event, the maximum legal base rate is equal to the ECB rate for a period of 6 months.

b. The ECB-rate is lower than 3%:
The maximum legal base rate can only change by Royal Decree.

c. Example:
- On 10 /12/2009 the ECB-rate stands at 2,5%
=> maximum base rate = 3% as of 01/01/2010 until 30/06/2010, unless change in Royal Decree.
- On 10/12/2009 the ECB rate stands at 4%
 => maximum base rate = 4% as of 1/01/2010 until 30/06/2010.

A growth premium can no longer be applied by law. The period of the last growth premium granted by ABN AMRO DirectInvest expires on March 31 2009, which is the final acquiry date.

The loyalty premium should amount to:

• minimum 25% of the base interest rate effectively offered by the bank
• maximum 50% of the permitted maximum base interest rate (by rounding down to the lower first decimal)

The loyalty premium is granted for all amounts which have been on your account for 12 consecutive months, or for all amounts that have been on your account for 11 consecutive months within one and the same calendar year. During this period, the loyalty premium is guaranteed. The loyalty premium period starts at the latest on the calendar day following the calendar day of the payment onwards.

Your accrued loyalty premium will be adapted to the new rate of 0,50% on April 1st 2009. This rate is guaranteed until the end of the loyalty period.

For the period April 1st- June 30th the maximum legal base rate will be 3% and the maximum loyalty premium will be 1,5%. ABN AMRO DirectInvest will apply a base rate of 2% as of April 1st, with a loyalty premium of 0,50%. The base interest rate can fluctuate within the legal margins in relation to changing market circumstances.

Interests are calculated according to the LIFO-method (Last In, First Out): withdrawals are calculated on the amounts with the lowest accrued premium.

A savings account can only have one single base interest rate. Various base interest rates for one savings account at one and the same moment are absolutely impossible.

Example: It is impossible to grant a different interest rate for amounts below 20.000,- euro than the interest rate granted for amounts above 20.000,- euro.