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-terms 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, cheques are disbursed annually in November of each year, right in time for the Christmas shopping. Any withdrawals on the account terminates the instrument and the amounts saved will be credited to the deposit account with a lower interest rate, for your convenience.