With a No Notice Savings Account you can:
- Get easy access to your capital,
- Without taking any risks.
Why open a No Notice Savings Account?
- To deal with an unexpected expense;
- To build up capital little by little by way of a standing order from your current account, for example.
To open and manage this account you can:
1. Apply online, via BILnet:
It is easier and faster:
- Log on,
- Create a No Notice Savings Account,
- Transfer your funds to this new account from another BIL account or from an account you have with another bank.
From now on you can withdraw funds
from your No Notice Savings Account by accessing it at any time
, via BILnet
The one thing that BILnet
does not allow you to do is to close your No Notice Savings Account. 2. Call in at a branch:
Whether you are not a BIL customer yet, you do not use BILnet or you prefer personal contact, you can, of course, call in at a BIL branch to perform all your account operations:
- Opening the account,
- Transferring and withdrawing funds from your account,
- Closing your account.
With Instant Access Savings Account, your capital benefits from triple remuneration: 1. The basic interest rate is linked to market trends, 2. The growth premium is calculated based on the net increase of deposits over the course of the year (in other words, the difference between your deposits and withdrawals). 3. The loyalty premium is calculated based on the lowest balance recorded over the course of the past year.
Interest is paid yearly on 31 December.
The following value dates apply:
- D+15 for your deposits: interest is recorded 15 calendar days after the money is paid into the account;
- D-15 for your withdrawals: the amount withdrawn stops generating interest 15 calendar days before the date the withdrawal actually takes place.
Example of a growth and loyalty premium Imagine that your balance amounts to EUR 10,000 on 31/12/2010. 1st transactionYou make your 1st payment of EUR 1,000 on 01/02/2011.
01/02 > 31/12 = 329 days
EUR 1,000 x 329 x 0.75 / 36,000 = 6.85
Updated balance: EUR 11,000 2nd transactionYou make your 1st withdrawal of EUR 4,000 on 23/03/2011.
23/03 > 31/12 = 277 days
EUR 4,000 x 277 x 0.75 / 36,000 = 23.08
Updated balance: EUR 7,000 3rd transactionYou make a 2nd payment of EUR 15,000 on 26/06/2011.
26/06 > 31/12 = 184 days
EUR 15,000 x 184 x 0.75 / 36.000 = 57.50
Updated balance: EUR 22,000 4th transactionYou make a 2nd withdrawal of EUR 1,500 on 14/08/2011.
14/08 > 31/12 = 136 days
EUR 1,500 x 136 x 0.75 / 36,000 = 4.25
Updated balance: EUR 20,500
Therefore, your growth premium shall be equal to 6.85 – 23.08 + 57.50 – 4.25 = EUR 37.02
Your loyalty premium: 7,000 (i.e. the lowest amount recorded in the year) x 0.25: 100 = EUR 17.50
Total credited premiums 37.02 + 17.50 = EUR 54.52
Track your No Notice Savings Account
Do you want to check your account balance or your transactions?You can do it over the internet, via BILnet: it’s the easiest way! Access BILnet and check the transactions on your No Notice Savings Account.
View your monthly statements sent by post.
You can also call in at your BIL branch to find out more, of course.