Specific Deposits Savings
The Specific Deposits Savings Scheme is a voluntary savings scheme available to all members. As a member, you can set aside a sum of money to pay for committed future expenses, such as vehicle insurance, road tax, family vacation and the purchase of children’s school books. You may withdraw the money anytime at your discretion.
The minimum monthly deposit is $10 and the maximum monthly contribution is $500. Your contributions will be deducted monthly directly from your pay packet or via GIRO.
The interest rate for the period 1 October 2020 – 31 December 2020 will be 0.30% per annum.
(The interest rate will be reviewed and adjusted quarterly, i.e. January – March, April – June, July – September and October to December)
Interest is calculated based on your daily balances and will be credited into your account in January and July annually.