BOSL Savings Account

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Account Details

At Bank of Saint Lucia, we know you have goals in mind. Achieve them quicker with special savings products designed for every stage of your life. Click on a link below for more details and how to apply.

Bank of Saint Lucia has an achiever plus account (A+ account) to help our children develop that good habit of saving. The A+ account is designed for children and young people up to 18 years old, offering incentives to help keep them saving and aiming for the top.

Features

Must be under 18 years.
Minimum opening balance of $10.
Account holder can sign on the account at age 7 years.

Benefits

Interest is paid quarterly on balances over $100.
Complete Online Banking with limited access, with Parent or Guardian Consent.
International Debit Card with Parent or Guardian Consent.

All of life's accomplishments have started with a first step. Developing a good savings habit while learning to manage your income is your first step to financial security. A regular savings account from Bank of Saint Lucia facilitates the payment of your salary, payment of your utility bills and access to various convenience services while allowing you to save for future goals and emergencies.

Features

Must be 18 years and over.
Minimum opening balance of $50 (Plus $10.00 Government Stamp Duty upon opening of account).

Benefits

Interest paid quarterly.
Unlimited deposits and withdrawals via ATM.
Standing order facility.
Payment of your utility bills.
Complete Online Banking.
Use of your Visa International debit card at various business outlets.

Bank of Saint Lucia provides the building blocks to owning your own home. The account is structured to allow you the flexibility to manage your loans and other commitments while saving for a home. The Home Start Account is a registered account and as such allows for an annual tax return of up to EC$6,000

Features

Must be 18 - 50 years.
Must deposit a minimum of $100 every month therefore maintaining an annual savings of $1,200.
Choose a maturity period:
Plan A: Minimum one (1) year, with no tax credit benefit.
Plan B: Minimum five (5) years, tax credit of up to $6,000 per annum.

Benefits

Earn 0.75% more interest than the regular savings rate.
Minimum opening balance of $100.
Interest paid quarterly.
Allows you to save towards the deposit for a mortgage.
No commission on standing orders within BOSL to accounts in the name of the account holder.
Subsidized legal fees for the purchase of land or mortgage.

* We reserve the right to review our product features, rates and fees in accordance with market conditions.

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Digital Regular Savings Account

In today's financial landscape, it's a common reality that many families lack a substantial cushion for life's unexpected turns. At Bank of Saint Lucia, we understand the importance of preparing for the future, and that's why we've introduced the Savings - Digital Regular Saving Account (DRS). With the DRS account, we empower our customers to prioritize savings, taking the first step toward building a financial safety net. Whether it's for those unforeseen emergencies or realizing your short-term dreams like a new car or owning a property, our automatic monthly deduction system helps you set and exceed your savings goals. Trust in us as your financial partner to secure a brighter future.

Requirements

Account holder must be 18 years or older
Minimum monthly contribution of $100.00

Features

Interest is paid quarterly
No minimum deposit required
Automatic enrollment for Online & Mobile Banking
International Debit Card
Funding within seven (7) business days for accounts opened.

Terms and Conditions

Average monthly balance of $100.00 to be maintained
Maintain an average balance of $1,200.00 within 12 months
At least one Auto Savings transfer of $100.00 or more monthly
Closures before 6 months 0.25% will be withheld.
Account holder must maintain account with its minimum operating balance of $100.00 to earn interest 2.25%, once balance goes below account will earn interest at 2%.
If the average balance goes below $1,200.00 after 12 months account will no longer earn interest at 2.25%, rate will be reduced to 2%.
Account holders will be entitled to five (5) free transactions per month, any transaction beyond from the DRS account will incur a fee of $5.00 per transaction. This will include ATM, Point of Sale, Online Purchases, Peer to Peer transfers, Wires, and transactions conducted over the counter at any of our branches

My Smart Account

Requirements

Account holder must be 18 years or older

Features

No minimum deposit
Funding within seven (7) business days for accounts opened.
No monthly service charges
Unlimited transactions
International Debit Card within 48 hours
Automatic enrollment for Online & Mobile Banking (Track your account balance, move money quickly and easily between accounts)
Downloadable monthly statements.
Get alerts when account go below your prescribed balance
Set balance thresholds on your spending
Enjoy cash management

Add-Ons

Line of Credit protection plan of up to $500, with easy renewal annually
No annual commitment fees
Overdraft interest rate at 16% and is charged on the overdrawn amount

Terms and Conditions

Non-Interest bearing account
Transactions conducted at BOSL branches incur an over the counter fee of $5.00 per transaction
No cheque books will be issued on this account
Minimum interest charged on overdrawn accounts of $60.00
Accounts with an overdrawn balance beyond 30 days will be automatically closed
The line of credit (protection plan) will be subject to review at the Bank’s discretion at least annually
Fluctuating overdraft subject to call and annual review
All accounts with the protection plan must roll over at least once monthly

BOSL Savings Account

Digital Regular Savings Account

My Smart Account

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