Christmas Club Account
Our Christmas Club Account is a special account that runs annually from November of one year to October of the next. It is a short-term saving tool normally used when a specific goal needs to be achieved – such as purchasing something for a loved one! It requires a monthly contribution of a stipulated amount and has an interest rate of 2.25% per annum.
Because of the special nature of the account, funds are disbursed annually in November of each year, right on time for the Christmas shopping. Any withdrawals on the account terminate the instrument and the amount saved will be credited to the deposit account with a lower interest rate.