A by-invitation only, 5-year savings scheme for members who had participated in and successfully completed the 3-year term in Subscription-to-Savings Scheme Series 1, maturing on 31 October 2014.

The main intention of the Subscription-To-Savings Scheme (STSS) is to provide our members with an opportunity to receive more regular and consistent returns on the current amount of money in their Subscription Capital Account (“SCA”).

Closing date of participation: 25 September 2014.

Rate of Return

Members will earn an interest of 4% per annum on the principal sum deposited for Series 3 for the period from 1 November 2014 to 31 October 2019.

Interest accrued would be paid to the member every six (6) months based on day count fraction of (actual number of days)/(number of total calendar days in the year).


Members may transfer the principal sum from STSS Series 1 to Series 3. Please note that any amount transferred out of SCA to STSS cannot be transferred back to the SCA and participation in the STSS will not affect the members’ monthly contribution obligations to SCA.


The duration for a member’s funds to remain in the STSS is five (5) years. At the end of the said five (5) years, the member will be at liberty to withdraw the principal sum deposited into the STSS. Alternatively, the member may wish to continue with his participation in the STSS if it is extended for another term.

In the event that the STSS is extended for subsequent terms, an invitation letter will be sent to members six (6) months before the expiry date for them to participate in the new series. Members can opt to either “roll over” the whole principal by utilising it as principal for the new series or withdraw the full principal.

*The Society reserves the right to send such invitation letters to eligible members with different terms and conditions.

Early Withdrawal by Member

1. In the event of an early withdrawal from the STSS by a member before the maturity of term, the following interest rates, instead of the interest rate return set out above, will apply on the principal sum deposited:

6 months to <
Less than 12 months
12 months to <
12 months to less than 24 months
18 months to <
24 months to less than 36 months
24 months to <
36 months to less than 48 months
30 months to <
48 months to less than 60 months
0.75% per annum 1.50% per annum 2.25% per annum 3.00% per annum 3.50% per annum

1. In the event that the STSS is extended for subsequent terms, the applicable interest rate payable for any early withdrawal shall be determined by the Board.

2. For early withdrawals by a member, there will be a pro-rata claw-back of the interest paid out with a corresponding deduction made to the principal sum that would be repaid to the member.For example, if the early withdrawal is done on the 19th month, there will be a claw-back of interest of 2.50% per annum for the first twelve (12) months, which will be deducted from the principal.Interest for the remaining period will be based on day count fraction calculated up to the day before the money is in the member’s bank account.

3. If a member wishes to make an early withdrawal, only a withdrawal of the entire principal sum deposited in the STSS is permitted. No partial withdrawal of the principal sum is allowed.

4. Forms will be furnished by the Society for any withdrawals by members.


The deposit under STSS may be used as collateral to apply for a secured loan from the Society.

Find out more about Police Co-op’s loan here.

Withdrawal Stss Series 3 Form