According to the law of 22nd March 2004, new born children can receive (on request) an initial state-financed capital of up to 100 €, which can only be paid into a mortgage savings account. The legal conditions are as follows:

  • The child must be born after the 2nd of December 2002 and must not be over 6 years
  • The child must have lived in the Grand Duchy of Luxembourg for at least six months
  • A minimum of 240 € has to be saved on the mortgage savings account before the child is 16 years old
  • Until the child is 30 years old, the money may only be used for the financing of a house or apartment
  • After 30 years, it can be freely used.

If these conditions apply to your child, and if you make a savings agreement for your child with Wüstenrot, the fee payable on completion (up to 100 €) will be credited to your account. This means that for a mortgage savings agreement with a minimum amount of 10.000 € you don’t pay any subscription fees. You can transfer the monthly child benefit allowance to this savings account. This way, you can create a financial foundation that will be greatly appreciated as the child grows up. This method allows parents and relatives to secure their children’s and grandchildren’s future.

Children need a future. Mortgage savings is a first step in that direction.