Tuesday, December 16, 2008
Stronger Returns promised with NCB Max Deposit Account
“The NCB Max Deposit account offers unique benefits: more attractive interest rates, easy access to the funds and peace of mind knowing that your funds are safe”, said Audrey Tugwell Henry, Senior General Manager, Retail Banking Division of National Commercial Bank (NCB) of the Bank’s recent launched fixed deposit account. The NCB Max Deposit account is available in Jamaican, US and Canadian dollars, as well as, Euros and Pound Sterling. The account offers investment periods ranging from 30 days to one year. Both businesses and individuals can take advantage of the stronger returns that are available with the NCB Max account.
It is also easy to get started as the NCB Max Deposit account can be opened with as little as $35,000 or 1000 units of the foreign currencies. You also do not have to be an existing customer of NCB to take advantage of the higher rates that are available. The account is ideal for those who need a lump sum for medium to long-term goals, retired individuals and those who have extra cash that they want keep relatively liquid. There is no limit on how much you can invest with the NCB Max Deposit account.
Fixed deposit accounts offer higher interest rates in return for placing the funds with a financial institution for a fixed period. Your funds are always available, but if you do not keep the funds for as long as agreed you will not receive the higher rate of interest. However, at all times the amount you deposited would be protected.
The NCB Max Deposit account has several unique features when the period that you have agreed to save the funds come due, which is also referred to as maturity. You may choose to have additional deposit taken out of an NCB account and added to the original sum plus the interest earned. The entire sum will then be deposited again for a pre-determined period.
You can also have the interest sent to an account where you can access it with your Midas card. All this without having to come into the Bank again as these options can be selected while you are opening the account. A third option allows you to simply collect the funds with your interest at maturity.
Mrs. Tugwell Henry also outlined additional advantages of the Max deposit account “NCB always wants to ensure that the needs of our customers are met. They have been asking us to present them with options that ensure higher returns but are very safe options and the NCB Max Account responds to those needs. The account offers peace of mind for customers who will see their money growing in a steady manner. All it requires is patience; in fact you can influence the interest rate you receive by depositing more and having a longer maturity date”.
The NCB Max Deposit account also allows you to access NCB’s cash secured loan facilities. When you qualify for the NCB Reward Loan, you can borrow up to twice the amount you have deposited. The NCB Cash Secured loan offers you an opportunity to borrow up to 95% of the amount in your NCB Max Deposit account. You can also watch your wealth grow as all deposit accounts are available for viewing through NCB’s internet banking service at www.jncb.com.
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