What is the blocked savings account?

The blocked savings account is a savings account that is frozen until the holder turns 18, enabling you to easily build up capital for youngsters entering adult life. The account may be opened by a legal representative or a third party (grandparents, aunt, uncle, neighbour, etc.). The person who opens the account is called the “depositor”.

Guarantee for deposits

Fonds de garantie des dépôts Luxembourg (FGDL) : your deposit guarantee scheme Your deposit is covered by a contractual scheme officially recognised as a Deposit Guarantee Scheme. If insolvency of your credit institution should occur, your deposits will be repaid up to EUR 100,000. Overall limit of protection If a deposit is unavailable because a credit institution is unable to meet its financial obligations, depositors are repaid by a Deposit Guarantee Scheme. This repayment covers at maximum EUR 100,000 per credit institution. This means that all deposits at the same credit institution are added up in order to determine the coverage level. If, for instance a depositor holds a savings account with EUR 90,000 and a current account with EUR 20,000, he or she will only be repaid EUR 100,000. The reimbursement period in case of a credit institution’s failure is of 7 working days Particular issue The protection of deposits resulting from real estate transactions relating to private residential properties, as well as compensation received for losses incurred in connection with private residential property, deposits that serve social purposes and which are linked to particular life events of a depositor, such as marriage, divorce, retirement, dismissal, redundancy, invalidity or death and deposits that are based on the payment of insurance benefits or compensation awarded to victims of criminal offences or wrongful conviction may exceed an amount equivalent to EUR 100,000, nevertheless without exceeding an amount equivalent to EUR 2,500,000, during 12 months after the amount has been credited or from the time these deposits can be legally transferred. Further information can be obtained under www.fgdl.lu . Limit of protection for joint accounts In case of joint accounts, the limit of EUR 100,000 applies to each depositor. However, deposits in an account to which two or more persons are entitled as partner of a company, member of an association or grouping of a similar nature, without legal personality, are aggregated and treated as if made by a single depositor for the purpose of calculating the limit of EUR 100,000. Reimbursement The responsible Deposit Guarantee Scheme is the "Fonds de garantie des dépôts Luxembourg" (FGDL), 283 route d’Arlon, L-1150 Luxembourg, (+352) 26 25 1-1, info@fgdl.lu , www.fgdl.lu . It will repay your deposits (up to EUR 100,000) within 7 working days. If you have not been repaid within these deadlines, you should contact the Deposit Guarantee Scheme since the time to claim reimbursement may be barred after a certain time limit. Further information can be obtained under www.fgdl.lu . Investor Protection Summary The Luxembourg investor compensation scheme (SIIL) covers investors, physical persons and legal entities within the limits and according to the terms and conditions provided for by the law of 18 December 2015 relating to the resolution, recovery and liquidation measures of credit institutions and some investment firms, including deposit guarantee and investor compensation schemes. The SIIL provides cover for claims resulting from a credit institution’s inability to: reimburse its investors the funds due to them or belonging to them, held on their behalf and related to investment transactions, in accordance with applicable legal and contractual conditions; or return to investors the instruments belonging to them and held by them, administered or managed on their behalf and related to investment transactions, in accordance with applicable legal and contractual conditions. Investment transactions made by the same investor are covered up to an amount equivalent to EUR 20 000, whatever their currency or location within the European Union and regardless of the number of accounts held. In case of an investment transaction involving a joint account, the claims are distributed evenly among the investors, if no special provisions have been provided. Investors must be compensated as soon as possible by the SIIL, and this within three months at the latest.

Savings account

Your money is safe and available at all times

More info Contact an advisor

Thanks to your savings account, you benefit from numerous advantages:

Security

Your capital is guaranteed, regardless of market trends
Liquidity

Accessible anytime, 24/7
Flexibility

Make deposits by transfer or standing order via S-Net or at a branch

Check interest rates

Are you looking for a savings account for your children? Benefit from an attractive return, with our Young Customer savings accounts

The Tweenz savings account

The savings account for children between the age of 0 and 12.

Grow the savings of your children aged 0-12 years thanks to the attractive Tweenz rate.

Blocked savings account

The savings account that is blocked until the age of 18.

Open a savings account at an attractive rate that is blocked until the beneficiary’s 18th birthday.

Current account required (free up to the age of 18)

You have just become parents? Discover our gifts for your newborn

Spuerkeess and LALUX Assurances offer EUR 150 to your newborn, of which:

EUR 50 will be credited on a Tweenz savings account (opened by a legal representative)
EUR 50 will be credited on an insurance lalux-Study Cover
EUR 50 will be credited on a savings plan S-Invest *

Your child may benefit of this gift up to the age of 12 months. Furthermore, your child will receive a nice surprise gift at our branch.

* Valid until the child's 18th birthday

Learn more

Would you like to benefit from a higher return? By determining the length of investment in advance, our deposits enable you to achieve a higher return while guaranteeing your capital.

The deposits at Spuerkeess Flexibility, return, predictability

Term: 1 month - 10 years
Different currencies
Minimum investment : 10.000 € / deposit account

Deposits

Is the return on your savings not up to your expectations? Discover our alternatives to classic savings!

S-Invest

Your investment funds savings plan in lux|funds.

Speedinvest

When investing becomes as simple as saving.

BHW Bausparen

Build your future with a BHW housing savings scheme contract.

Etika - Ethical financing

Need help or more information about your personal loan? Take a look at our special section!

The blocked savings account is a savings account that is frozen until the holder turns 18, enabling you to easily build up capital for youngsters entering adult life.

The account may be opened by a legal representative or a third party (grandparents, aunt, uncle, neighbour, etc.).

The person who opens the account is called the “depositor”.
Fonds de garantie des dépôts Luxembourg (FGDL) : your deposit guarantee scheme

Your deposit is covered by a contractual scheme officially recognised as a Deposit Guarantee Scheme. If insolvency of your credit institution should occur, your deposits will be repaid up to EUR 100,000.

Overall limit of protection

If a deposit is unavailable because a credit institution is unable to meet its financial obligations, depositors are repaid by a Deposit Guarantee Scheme. This repayment covers at maximum EUR 100,000 per credit institution. This means that all deposits at the same credit institution are added up in order to determine the coverage level. If, for instance a depositor holds a savings account with EUR 90,000 and a current account with EUR 20,000, he or she will only be repaid EUR 100,000.

The reimbursement period in case of a credit institution’s failure is of 7 working days

Particular issue

The protection of deposits resulting from real estate transactions relating to private residential properties, as well as compensation received for losses incurred in connection with private residential property, deposits that serve social purposes and which are linked to particular life events of a depositor, such as marriage, divorce, retirement, dismissal, redundancy, invalidity or death and deposits that are based on the payment of insurance benefits or compensation awarded to victims of criminal offences

or wrongful conviction may exceed an amount equivalent to EUR 100,000, nevertheless without exceeding an amount equivalent to EUR 2,500,000, during 12 months after the amount has been credited or from the time these deposits can be legally transferred.

Further information can be obtained under www.fgdl.lu.

Limit of protection for joint accounts

In case of joint accounts, the limit of EUR 100,000 applies to each depositor.

However, deposits in an account to which two or more persons are entitled as partner of a company, member of an association or grouping of a similar nature, without legal personality, are aggregated and treated as if made by a single depositor for the purpose of calculating the limit of EUR 100,000.

Reimbursement

The responsible Deposit Guarantee Scheme is the "Fonds de garantie des dépôts Luxembourg" (FGDL), 283 route d’Arlon, L-1150 Luxembourg, (+352) 26 25 1-1, info@fgdl.lu, www.fgdl.lu. It will repay your deposits (up to EUR 100,000) within 7 working days.

If you have not been repaid within these deadlines, you should contact the Deposit Guarantee Scheme since the time to claim reimbursement may be barred after a certain time limit. Further information can be obtained under www.fgdl.lu.
Investor Protection Summary

The Luxembourg investor compensation scheme (SIIL) covers investors, physical persons and legal entities within the limits and according to the terms and conditions provided for by the law of 18 December 2015 relating to the resolution, recovery and liquidation measures of credit institutions and some investment firms, including deposit guarantee and investor compensation schemes.

The SIIL provides cover for claims resulting from a credit institution’s inability to:

reimburse its investors the funds due to them or belonging to them, held on their behalf and related to investment transactions, in accordance with applicable legal and contractual conditions;

or return to investors the instruments belonging to them and held by them, administered or managed on their behalf and related to investment transactions, in accordance with applicable legal and contractual conditions.

Investment transactions made by the same investor are covered up to an amount equivalent to EUR 20 000, whatever their currency or location within the European Union and regardless of the number of accounts held.

In case of an investment transaction involving a joint account, the claims are distributed evenly among the investors, if no special provisions have been provided.

Investors must be compensated as soon as possible by the SIIL, and this within three months at the latest.

I want a savings account I want to be contacted by an advisor

Last name

First name

Date of birth

Format: DD.MM.YYYY

Email address

Format: email@example.com

Phone number

Format: 123 456

Preferred communication channel

E-Mail
Phone

Please choose Spuerkeess Direct or a branch

Message

Personal data collected will be processed in full compliance with data protection legislation. In particular, you have the right to access and rectify this data by sending your request by S-Net, email or letter to the following address. For further information: Data Protection Policy