Specific Deposits Savings (Optional)lemonadecares2020-12-31T23:39:15+08:00
A savings scheme that nudges you closer to your aspirations, while offering the flexibility of contribution amounts and unlimited withdrawals.
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 Jan 2021 to 31 Mar 2021 is 0.20% 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.
Specific Deposit Savings Withdrawal Form
For withdrawal from your Specific Deposits Savings account, please fill in and sign on the following form and fax it to us at +65 6334 8497.
To change your monthly deduction from your pay to contribute to your Specific Savings account, please fill in and sign on the following form and fax it to us at +65 6334 8497. Alternatively, you may email it to us or drop by our building.