Investment Solution Account

Investment solution account/Programmed saving account is a saving product that is tailored to assist savers in the achievement of certain goals. Investment solution account/Programmed savings are accounts in which deposits are made on a regular basis for specific purposes and time periods.

  • If clients withdraw funds before the maturity date, they must pay fines or penalties of no interest on the amount withdrawn, for each withdrawal;
  • The service will have different interest rates from the normal saving accounts.

Underlying Features of the Product

  • This account shall be established for holiday, vacation, or special purpose saving specific to the account holder(s) to undertake certain venture, a project, vacation, trip, marriage or graduation etc;
  • This account can be operated either individually or jointly;
  • The initial deposit to open this account shall be specified by the Bank;
  • The regular deposits may be made on a daily, weekly or monthly basis;
  • The customer may not make withdrawals from a programmed account until the specified maturity date;
  • The client withdraws the full amount of the savings plus the interest accrued during the specified period.