The Rent Deposit Account is an ideal solution for depositing the agreed security deposit.
- The tenant deposits the amount agreed with the lessor, not to exceed three months’ rent, to a current account and pledges it with a pledge agreement.
- Due to the pledge, the tenant cannot access the funds on the account during the lease. The funds can be withdrawn once the lease ends and the lessor has signed a release of the pledge. The lessor returns the signed pledge agreement to the tenant or delivers it directly to the bank.
- If the tenant neglects his obligations under the tenancy agreement, the landlord has the right to withdraw the pledged money from the bank.
- The pledge agreement form for a rent deposit is available in the op.fi service. In the pledge agreement, the bank agrees to a non-set-off commitment, in other words not to set off funds deposited in the account against any receivables it may have.
- A monthly charge does not apply to rent deposit accounts.
How to open a rent deposit account
Edit account details
3. Pledge your account as a rent deposit account
4. You will receive the pledge agreement by online message within 1 to 3 working days. You still need to fill in any missing information in the pledge agreement, sign it and deliver it to your lessor.
If you wish, you can also open a Rental Deposit Account at a branch. Remember to bring your identity papers and the signed tenancy agreement.
Funds in the Rent Deposit Account will generate OP bonuses until 31 October 2020. Learn more under the section ‘Owner-customer benefits and OP bonuses through banking services’!