Our Products

Savings Account

The Bank offers tax free savings accounts which are tailored to suit individuals and clubs. All our savings products do not attract any withdrawal fees or monthly maintenance charges.

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Easy Save

This is a term deposit for a minimum period of 1 month up to 12 months with an option to roll over at maturity at prevailing rates. It is ideal for individuals or groups who want to save for a specifc period towards a specifc project. Furthermore the investment can be used as security for a loan up to 80% of investment amount and competitive tax free interest. Investment amounts range from $100.00 up to $5 000.00

 

Account Opening Requirements

• Original ID (National ID, Passport or Driver’s License)

• Copy of ID

• Proof of residence (Utility Bills, Letter from Employer, Chief, District Council, Headmaster)

• Club constitution/Minutes/Resolutions for clubs

Benefits/Key Selling Points

• The investment can be used as security for a loan of up to 80% of the investment

• The product offers a competitive interest rate that is tax free

Benefits/Key Selling Points

• The investment can be used as security for a loan of up to 80% of the investment

• The product offers a competitive interest rate that is tax free

Easy Save Conditions

Easy Save Her Easy Save
Investment amount $100.00 to $5 000.00 $100.00 to $5 000.00
Term (months) 1,2,3,6 and 12 1,2,3,6 and 12
Interest per annum (tax free) 5%,6%,7%,9% and 10% 7%,8%,9%,10% and 11%
Interest Calculation Payable on maturity Payable on maturity
Monthly Service/ Maintenance Fees Nil Nil
Withdrawal fees At maturity At maturity
Withdrawal Charges Nil Nil
Smart Save

This is an ordinary savings account. The Smart save account was designed with both individuals and collectives (for example burial societies, church clubs, women’s clubs and family clubs) in mind. The Smart Save savings account allows individuals and collectives to save for reasonably longer periods with the flexibility of frequent additional deposits into this account. Customers can therefore deposit into the SmartSave account as often as they like. With this account, interest on savings is tax free and the account has no monthly service fees.

Account Opening Requirements

• Original ID (National ID, Passport or Driver’s License)

• Copy of ID

• Current proof of residence (Utility Bills, Letter from Employer, Chief, District Council, Headmaster)

• Club constitution/Minutes/Resolutions

Benefits/Key Selling Points

• Competitive interest rates

• No monthly service fees

• Tax free interest

• No withdrawal fees

Smart Save Conditions

Smart Save Her Smart Save
Investment amount $10.00 to $1000.00 (5%) $1000.01 to $3000.00 (5.5%) Above $3000.00 (6%) $10.00 to $1000.00 (7%) $1000.01 to $3000.00 (7.5%) Above $3000.00 (8%
Minimum Balance $10.00 $10.00
Frequency of interest payments Monthly Monthly
Interest Calculation Daily Cleared Balance Daily Cleared Balance
Monthly Service/ Maintenance Fees Nil Nil
Withdrawal Conditions First withdrawal after 3 months Maximum 4 withdrawals per year First withdrawal after 3 months Maximum 4 withdrawals per year
Withdrawal Charges Nil Nil
Junior Save

This savings account is for customers below the age of 16 years. It is designed to encourage children to start saving at an early age. Parents can start saving for children from birth. JuniorSave debit cards are available for JuniorSave account holders.

Account Opening Requirements

• Parent / guardian’s current proof of residence

• Parent/ guardian’s ID and photocopy of same

• Child’s Birth certifcate/ or valid passport

Benefits/Key Selling Points

• Competitive interest rates

• No monthly service fees

• No cash withdrawal charges

• Tax free interest

Junior Save Conditions

Minimum Balance $5.00
Interest rate per annum $5.00 - $500.00 (6.5%) $500.01 - $1500.00 (7.5%)Above $1500.00 (9.5%
Interest Calculation Daily Cleared Balance
Frequency of Interest payments Monthly
Maintenance fees Nil
Withdrawal fees Nil
Withdrawal Conditions First withdrawal after 3 months
Maximum number of withdrawals 4 per year

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