Fixed Deposits

//Fixed Deposits

The current economic climate necessitates prudent management of funds and in light of falling deposit rates both in the commercial banking sector and in non-financial institutions, AMGECU has had to re-adjust its existing deposit rates,while still providing competitive returns on Members’ deposits.

The following are the deposit products and the new interest rates applicable from November 16th,2012.

Amount Guaranteed Rate Guaranteed Rate Retirees (60 yrs and over)
$1,000-$99,999.00 0.75 % 1.00%
$100,000 and over  1 % 1.25 %

Minimum investment is $ 1000.00

Penatly -0.25 % below annual rate for early withdrawal.

For early withdrawals of $ 100,000 and over require 14 days notice.

All Fixed Deposit have a minimum term of 1 year and are tax free.

Fixed Deposits can be used as Securities for Loans.

 

All US dollars fixed deposit will carry a Guaranteed rate of 0.5%. Rates are subject to change without prior notice.