You want to start saving for your child's future. A savings account seems like the obvious first step as it's safe, simple, and designed to grow money over time.
But here's the thing: most Belgian savings accounts for children offer interest rates around 1-2%, which barely keeps up with inflation. Your money feels safe, but it's quietly losing purchasing power every year.
The solution isn't to avoid saving for your child. It's to understand when savings accounts work (short-term needs) and when investing in ETFs makes more sense (long-term growth). Let's walk through both options so you can make the right choice for your family.
What to know before you start
Before jumping into the how-to, it’s useful to understand a few fundamentals.
Some banks in Belgium let you open a savings account for your child before they’re even born. Yes, really. It’s usually called a “baby savings account” and can be set up up to three months before the due date. The account is opened in your child’s name, so the money legally belongs to them. But until they turn 18, you manage the account as a parent or legal guardian.
There are limits on what you can do with the money. You’re allowed to make withdrawals, but only if it’s clearly in your child’s best interest. That usually means things like school costs, healthcare, or other essential needs.
Teenagers slowly gain more access. Some banks let them start withdrawing money from age 16, but they’ll usually need your permission. The exact rules differ from one bank to another.
Step-by-step guide to opening an account for your child
If you’re thinking of putting money aside for your child, a regulated savings account is usually the first step. Here’s a clear step-by-step to help you open one in Belgium.
1. Compare the offers
Start by checking a few Belgian banks. Consider the following criteria:
- The base interest rate
- The loyalty premium (and how you earn it)
- Withdrawal rules
- Any fees
- Age restrictions
Some accounts are made for kids or teens. Others are regular savings accounts that can also be opened in a minor’s name. If you want to skip the research, we listed some of the best options further down.
2. Decide whose name the account will be in
You’ve got two choices:
- In your child’s name. This means the money legally belongs to them. You’ll manage the account until they turn 18.
- In your name. You can still gift the money later, but it could have inheritance or gift tax implications.
3. Gather the documents
You’ll usually need:
- Your ID and proof of address
- Your child’s ID (like a kids-ID) or birth certificate
- If you're a legal guardian, bring proof of guardianship
Some banks require the child’s ID to be registered before opening the account.
4. Apply online or at a branch
You can often apply online, but some banks still ask you to go to a branch. You’ll need to add both parents or guardians where needed, and choose how you want to manage the account (for example through online banking). If you’re planning to save regularly, now’s a good time to set up a standing order.
5. Set access and withdrawal rules
Think ahead about how and when your child will access the money. Some banks allow teens to make withdrawals from age 16, usually with your consent. But until they’re 18, any withdrawal has to be in their best interest (like education or healthcare).
6. Understand the loyalty premium
If the account offers a loyalty premium, you only earn it if you keep the money in for a certain period, usually 12 months per deposit. Withdrawing too soon means you lose the premium on that deposit.
7. Automate and review once a year
Set up monthly transfers to build the habit. Then, once a year, review the interest rate, loyalty rules, and whether the account still suits your goals.
If you're saving for something further down the road (10+ years), you might want to look into investing in ETFs instead. They offer better long-term returns, though they come with more risk.
Which is the best savings account for your child?
Child-specific accounts tend to give higher interest rates, fun sign-up gifts, and useful educational tools. For example, Banque CPH has a savings account for kids under 12. It offers a decent base rate of 1.00%. But in absolute terms, they don’t provide better rates than the top regular savings accounts.
Savings accounts are safe, but returns are low
Most Belgian banks don’t offer much when it comes to interest rates on child savings accounts. The base rate is low, and the loyalty premium (which only kicks in after 12 months) doesn’t help much either.
In practice, you’ll often see rates between 1% and 2%. That’s below inflation. So even though the money feels “safe”, it’s quietly losing value over time. What you can buy with that money today may not be possible a few years from now.
For short-term goals like a school trip, a new bike or a laptop, a savings account does the job. The money is there when you need it, and there’s no risk.
But if you're thinking long term, like helping with studies, a first home, or giving your child a financial head start, then investing is usually the better option. It comes with more risk, but it also gives the money a chance to grow in a way that savings accounts simply can’t match.
Invest in ETFs to earn a better return for your child
ETFs (Exchange Traded Funds) are baskets of hundreds or even thousands of companies from all over the world. They allow you to invest in the global economy in one simple product. At Curvo, we believe ETFs are the best way to build long-term wealth for children:
- Higher potential returns: Historically, global stock markets have delivered annual average returns of 6–7% after inflation. Compare that to ~1% in a savings account.
- Diversification: By investing in thousands of companies across sectors and countries, the risks of betting on single stocks are eliminated.
- Automatic reinvestment: Many ETFs reinvest dividends automatically, letting compounding work in your child’s favour.
- Low cost: ETFs are significantly cheaper than traditional investment funds, meaning more of your money is working for your child.
Saving accounts vs ETFs: a comparison for your child
How Curvo helps Belgian parents invest for their children
Set up a portfolio with your child in mind
Curvo makes it easy to start investing for your child's future. When you set up your account, you can choose your investment goals, like saving for your child's education. You can also specify the time horizon, or how many years until your child needs the money. We recommend a portfolio that matches your comfort level while still aiming for growth.
Monthly saving plans that grow with your family
One of the best features of Curvo for parents is the ability to set up automated monthly investments. You can start with as little as €50 per month and increase your contributions as your financial situation evolves. This "set and forget" approach makes it much easier to stay consistent with your savings plan for your child.
Sustainable investing for a better future
When investing for our children's future, we also want to consider the world they'll inherit. Curvo provides sustainable investment portfolios. These portfolios exclude companies connected to weapons, tobacco, and gambling. They also avoid those with bad environmental practices. This way, you're not only building your child's financial future but also investing in the kind of world you want them to live in.
Know how your child will start their life
Curvo offers a way to project your child's savings into the future. Based on historical data, you can estimate their savings when they turn 18, based on how much you save for them every month.
The account remains in your name until you decide to transfer
With Curvo, the investments stay in your name. This is different from child savings accounts, where the money belongs to the child and transfers automatically when they turn 18. This gives you more control and flexibility. You can decide when to transfer parts of the investment. Do this as your child hits milestones, when needs come up, or when you think they are ready to handle money responsibly. This allows for a more gradual transition to financial independence.
Comparison between Curvo and savings account
The difference in potential growth between savings accounts and index investing is substantial. Looking at historical data from 2007 to 2025, a €10,000 lump sum invested in a portfolio like on Curvo would have grown to approximately €40,000 (despite including the 2008 financial crisis and other market downturns). The same €10,000 in a savings account would have grown to only about €11,400.
For monthly contributions, the difference is even more striking. If you invested €100 a month through Curvo from 2007 to 2025, it would have grown to around €38,900. In contrast, putting the same amount in a savings account would only give you about €22,700.
Summary
You now have everything you need to open a savings account for your child in Belgium. The key steps are simple: research your options, gather the required documents, and understand the legal implications of whose name the account is in. Most importantly, remember that opening the account is just the beginning.
Whilst a savings account provides security for immediate needs, don't let it be your only strategy. The numbers don't lie: €100 monthly contributions through traditional savings barely keep pace with inflation, whilst the same amount invested in diversified ETFs has historically delivered much stronger returns. Consider platforms like Curvo that make index investing accessible and automated, giving your child's money the best chance to grow over the years ahead.