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SMARTSAVE ACCOUNT
This is an ordinary savings account. The Smartsave is designed with both individuals and clubs (for example burial societies, church clubs, women's clubs and family clubs) in mind. The savings account allows individuals and clubs save for reasonably longer periods with the flexibility of frequent additional deposits into this account. Customers can therefore deposit into the Smartsave account as frequently as they like.
Benefits to Customers
- Very competitive interest rates
- No monthly service fees
- Tax free interest
The following terms apply:
| Amount |
Interest Rate |
| $20 - $1000 |
5% p.a tax free |
| $1000.01- $3000 |
5.5 % p.a tax free |
| $3000.01 and above |
6% p.a tax free |
| Withdrawal conditions/ frequency |
First withdrawal after 3 months. A maximum of 4 withdrawals a year. |
| Initial Deposit/Minimum Balance |
$20 |
| Minimum Monthly Deposits/Savings |
$5 |
Account Opening Requirements
- Original and photocopy of ID (National ID, Passport or Drivers License)
- Proof of residence (Utility Bills, Letter from Employer, Village Chief, District Council, Headmaster)
- Club constitution
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