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Do you need a product that suits your long- term goals of purchasing a home, or even providing for your child’s education? If so, Scotia DBG Merchant Bank’s (Scotia DBG MB) Long Term Savings Account is ideal for you.
With Scotia DBG MB’s Long-Term Savings Account, your interest is tax-free if your funds remain in the account for 5 years. Additionally, you will be able to withdraw up to 75% of your interest earned on a quarterly basis. *
The minimum transaction amount required for the Long-Term Savings Account is
JA$ 60,000.
The tenure for the Long Term Savings Account is 5 years. You will have access to your savings at any point during that time, however, if you withdraw any part of your initial deposit before the end of the 5-year period you will lose your tax-free benefit. We recommend a long term on-going commitment to saving that allows you to get the most out of your money.
The interest rate is attractively priced based on the amount of your deposit and is subject to change on a quarterly basis depending on prevailing market conditions.*
Our office is centrally located in New Kingston where our friendly staff is available to assist you in opening a Long-Term Savings Account. Come in and speak with one of our Relationship Officers today.
* This product is insured by the JDIC up to J$600,000 or foreign currency equivalent.
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