Target Savings Account
This product is specially designed for festival period like Christmas, Easter etc. It is also suitable for clients who have the desire for a performance weekly or monthly savings plan.
Features
- Interest rate is attractive
- Savings plan for a specific purpose
- Flexibility in operations of the account
- A standing order can be established for periodic transfer from current account
- Premature withdrawals will attract 10% penalty on agreed interest.
Requirements
- Interest is higher than a regular savings account
- It is a convenient way to grow your money
- The target amount and period of investment is determined by the client.
- It can be used as collateral for loan