Target Savings
Our Target Savings Account is especially for those wanting to save for that special something, like a holiday, Christmas or a deposit on a car or a house. You can deposit any amount at any time to your Target Savings Account. However, you cannot be tempted to withdraw as no withdrawals are permitted until 1 November each year.
With a higher interest rate than your standard 'transaction account', the Target Savings Account has become a very popular way to save. You can automatically direct a portion of your salary to this account, and watch your savings grow in no time.
Features:
- interest calculated on daily balances and paid on 31 October each year
- total balance plus interest transferred to your 'transaction account' on 1 November each year
- deposits of any amount at any time
- 'no withdrawals' permitted (until November 1)
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