Your Savings Solution
At BRED Bank we inspire you to save for important events in life like education, buying a car, buying a home, taking a dream vacation or retirement.
Our Premium Plus Savings Account is designed specifically for you. We offer you a genuine savings solution where you will earn high interest and pay little or no fees and charges on your account. The interest structure has been tiered to benefit you as your savings increase.
Features and Benefits
- Tiered interest structure allowing high interest as you increase the amount of savings.
- Interest rates offered on your savings is tiered as follows:
- Less than $99.99 – Nil
- $100.00 to $999.99 – 1.50% p.a
- $1,000.00 to $9,999.99 – 1.75% p.a
- Greater than $10,000.00 – 2.00% p.a
- Two free debit/withdrawal transactions per month.
- Free first issue of Premium Plus Card instantly.
- Your savings are safe and secure with us. We have a credit rating of “A” by Standard and Poor’s as of July 2015.
- Free registration of instant Direct (Internet) banking.
- No standing instruction fees for credit to Premium Plus Account.
- Savings account offering no loss of interest on debits/withdrawals*. No complicated rules for bonus interest or deposits or restrictions on transactions.
- No need to change banks completely - you can simply transfer your savings balance to our Premium Plus Savings Account to enjoy all the benefits without any hassles. We will be pleased to discuss your total banking requirements at your convenience.
How can you get a Premium Plus Savings Account?
Our account opening process is simple and fast. Simply visit your nearest BRED Bank branch and fill out an application form (click on application form to access). Other requirements are listed below:
- Original Birth Certificate
- TIN Letter or FRCA/FNPF Joint ID card
- Recent payslip/Letter of employment
- Utility Bill for residential address verification
- $100.00 minimum opening deposit
With any one of these:
- Voter registration card or
- LTA Driver’s license or
Fees and Charges
|Minimum opening amount||$100.00|
|Minimum operating balance||$100.00|
|Account Maintenance Fee||$2.00 per month when balance falls below $100.00 on any day of the month|
|Over the counter withdrawal||$3.00 per withdrawal or electronic transaction fee after 2 free debits**|
|Electronic transaction fee||$3.00 per transaction or withdrawal after 2 free debits**|
|Account overdrawn fee||Nil|
|PIN re-issue fee||$5.00 for each pin reset|
|Replacement ATM debit card||$10.00 per replacement|
|No account maintenance fee per month||$100.00 minimum balance must be maintained daily
*Interest accrues on daily closing balance on account and paid at the end of the month.
**2 free debit transactions can either be 2 over the counter withdrawal or 2 free electronic transactions or 1 over the counter withdrawal and 1 free electronic transaction. $3.00 fee will be charged on each transaction after 2 free debits are made on the account per month.
Terms and conditions apply.