A unique product developed for the customer who wishes to contribute small savings every month for larger future requirements.You may contribute as small amount as NZ$ 50 per month which earns good return every month and on maturity the whole savings may either be reinvested or utilized.
- Monthly fixed contribution may be as low as NZ $50 per month or in multiples of NZ$10. The maximum amount that can be contributed per month is capped at NZ$10,000.
- Earn higher interest on monthly basis on outstanding balance as at the last day of the preceding month.
- Hassle free loan/overdraft facility can be made available for up to 90% of the deposit amount. Interest on the loan/overdraft will be charged at only 2% per annum over the deposit interest rate on a monthly basis.
- Accounts may be opened by any individual, firm, organization, trust, society.
- Deposit tenure ranges from minimum of 12 months and up to 60 Months in multiple of 3 months.
- Customers may also give standing instructions from their account with us without any extra charges or stop orders from another bank.
- Interest payment is subject to tax.
- Payment of the deposit prior to the maturity date is permitted, with the Bank’s consent. However, in such cases a lesser rate of interest will be paid (see Fees and Charges below).
- Monthly minimum contribution as per the original contract should be deposited latest by 7th of the month.
- No premature payment penalty will be levied in case of the same is reinvested in any other deposit plan of our bank.
Fees and Charges
- Where the deposit is paid to the customer prior to the maturity date, interest will be paid at 1% per annum below the applicable rate for the actual period the deposit was kept with the Bank.
- Our fees and charges are subject to change from time to time. For all charges please see our service charges.