Local Unbreakable Term Deposits
|Sagicor Bank||Legacy Sagicor Bank|
A fixed term deposit instrument that allows you to earn higher rates than those offered on savings accounts.
- Initial deposit: JMD 100,000
- Minimum balance: JMD 100,000
- The deposit must be held for a minimum of 366 days and cannot be broken during the term of the deposit. Interest is paid at the end of the period.
- Interest is calculated daily and is paid at maturity.
- The interest rate that is applicable on the term deposit is relevant during the life of the deposit – it will not be adjusted if term rates change. If, at maturity, the customer wishes to reinvest the funds, they would be reinvested at the new rate.
- At maturity, principal and interest are rolled automatically, unless the customer specifies instructions.