Account Types

Term Deposit accounts are also known as “fixed” or “time” deposits. A term deposit account is an investment product designed for the customer who wants a higher rate of interest than is available on savings. The amount invested (Principal), and the Time (Period) are fixed. Partial withdrawals are not allowed and early redemption of the deposit is subject to a penalty.

Main Features 

• Long term fixed savings accounts
• Minimum Deposit of BBD$10,000.00
• Interest payments may be made periodically
• Early redemption penalty of 2% less than the agreed rate at the time the deposit was opened.
• Interest rates are tiered
• Minimum term of one(1) year
• Automatic renewal on maturity, at prevailing rate, unless the bank is notified prior to maturity date 

This account for corporate customers provides a chequing facility along with other services required for business purposes.
 
Features of product 

• Minimum opening balance of BBD$500.00
• First six (6) cheques are FREE for the month and every additional debit and credit thereafter is BBD$1.00
• Account transactions statements mailed by specified frequency – weekly, monthly, quarterly
• Overdraft facility available
• Access to a night deposit service 

Main associated fees

• First six (6) cheques are FREE for the month and every additional debit and credit thereafter is BBD$1.00
• Flat monthly charge of BBD$10.00

This is a short term interest bearing deposit on which interest is payable on a daily balance, designed for the customer who wishes to earn interest on surplus funds 

Main Features

• Minimum opening amount is at the discretion of management
• Minimum term is at the discretion of management
• Rate of interest is at the discretion of management
• Full balance may be withdrawn at any time on receipt of advance notice, and without any penalty