SUGA LOAN SAVER ACCOUNT
The main focus of this product is to aid women in business or those with potential business ideas, to build a consistent savings habit that will enhance their loan eligibility and approval changes in the future. It is to make access to lending easier to attain for women.
Features & Benefits
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for WOMEN only
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24/7 online banking
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e-statements
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able to apply for loan in the future.
Interest Rates
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paid monthly to the account for up to 3% monthly interest
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Base rate: 1%
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Bonus rate: 2% based on below conditions:
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must deposit minimum of $20.00 per month
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no withdrawal for the month
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Fees
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no monthly maintenance fee
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$5.00 withdrawal fee over the counter
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$1.00 transfer fee over Internet Banking (not yet effective)
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$0.00 Standing Order (SI) fee
Opening Requirements
RESIDENTS
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a company/business resolution approving
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the setting up of the account and stating:
1. Purpose of account
2. How the account will be funded
3. Names of authorized signatories
4. Account opening mandate
5. Ultimate beneficiaries of the account
6. Business address and location
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provide an original copy of Business License
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minimum opening deposit is $500 or more to open an account + 3 months of account operating
Important Documents
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Personal Cheque Account Terms & Conditions
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Personal Banking Terms & Conditions