Account Overview:
Interest rate: 1.5% per annum
Minimum balance to open an account: $10,000.00
Minimum balance to maintain this account: $5,000.00
How interest is calculated: On the whole number of $5.00 of the principal balance on a calendar monthly basis.
When is interest credited: Half yearly (30th June and 31st December of each year).
Withdrawal: One withdrawal is allowed in every seven (7) days; exceptions are allowed depending on the circumstances. No notice is required for a withdrawal from this type of account.
Account closure: All accounts must be in operation for at least one year before closure.
