This plan provides improved returns and encourages a disciplined approach towards saving. The objective is to commit to saving a lump sum each month without any restrictions.
Features and conditions are as follows:
- The minimum opening balance is $1,000 with minimum monthly deposits of $1,000.
- Competitive interest rates offered for periods of one (1) month and three (3) months. Rates are fixed for the duration, but the credit union reserves to right to change the rates at maturity.
- Lump sum deposits & withdrawals may be done at any point within the specified period and does not attract a penalty on interest earned.
- Funds in the account can be used as security for a loan.