Ordinary Savings Account
Savings Products
This is a savings account where an individual saves an agreed upon equal monthly installment to achieve a specific goal tagged to time.
Characteristics of Ordinary Savings Account
This is a savings account where an individual saves an agreed upon equal monthly installment to achieve a specific goal tagged to time.
| Characteristic | Description |
|---|---|
|
Interest Rate |
1% p.a. flat rate |
|
Minimum balance |
NIL |
|
Contribution frequency |
Monthly |
|
Target Time |
Specified by the account holder |
|
Withdraw |
None until maturity date |
|
Penalty (If withdraw before maturity) |
Foregoes the interest benefit. |