Design your saving program by identifying how much you want to save and how long you want to save for (3 – 12 months). Interest is calculated on the daily balance held in your Savers Club Account and is credited at the end of the saving period. Subject to certain conditions, you can obtain a Savers Club Advance if you need emergency cash from your Savers Club Account.
Savers Club Advance
The Savers Club Advance allows you to access a lump sum through your Savers Club Account without disrupting your saving programme. With this facility, members who enroll in a 12 month savings programme have the option to obtain an advance of up to 10 times the amount being saved monthly, after 4 months.
That is, if you are saving $5,000 each month in the Savers Club, you may get an advance of up to $50,000 after saving for 4 months. The Savers Club Advance can be taken at any time after the 4th month and is an excellent way to meet predictable future expenses such as insurance renewals and school fees.
There is no monthly repayment of this advance. Simply continue saving in your plan as normal. At the end of your savings programme, you will receive your savings plus interest, less the Club Advance and any associated charges.
- Special conditions apply.