This savings plan is designed to suit your varied savings needs. Whether you are saving towards an education, your car insurance, a down payment on a home, or some other financial goal, the Golden Achievers Plan can be started at any time of the year at your convenience. It is similar to ‘partner hand’ but offers better returns and is much safer.
With a minimum start-up of $50.00 EC, you are in control of when you save and how much you save. The duration of the savings plan lasts for one year and can be rolled over into a term deposit for a possible higher return, another Golden Achiever or cashed out. What’s more – you earn attractive returns every month end. Come now and save the GOLDEN ACHIEVERS WAY.
- No opening fees
- No annual fees
- The minimum committed time period for saving is 1 year
- The minimum amount to begin and maintain this savings plan is $50.00 and the deposit made each month cannot fall below this minimum. If this occurs then you will forfeit the interest paid for that quarter
- The savings account can be opened at any time of the year
- No withdrawal will be allowed for the duration of the committed time period.
- If the member requires the saved amount for an emergency then he/she has to present this request in writing and also forfeits the accumulated interest
- Interest rate paid will be 2.75% per annum and will be paid on 30th September
- The accumulated amount can be used as security for a loan provided that the amount of 35% of the loan has already been saved
- After the agreed upon time period has expired, the member is free to withdraw funds
- When this account is used to fully secure a loan, then the loan interest will be reduced by one percentage point
- Obtaining a loan using your Golden Achiever does not negate your responsibility in paying the minimum monthly or weekly installments to the savings plan
- The St. Kitts Co-operative Credit Union reserves the right to amend the rules and regulations at its discretion
