Five Dollar Shares Account
Interest Rate:
3.8% per annum
Annual compounded Rate:
4.04%
Minimum Balance to open an account:
$10,000.00
Minimum Balance to maintain this account:
$5,000.00
How interest is calculated:
On the whole number of $5.00 of the principal balance on a calendar monthly basis.
When is interest credited:
Half yearly (30 th June and 31 st December each year).
Withdrawals:
No notice is required for a withdrawal from this type of account.
Limitation of Withdrawal:
One withdrawal is allowed every seven days with exceptions depending on the circumstances.
Account Closure:
All accounts must be in operation for at least one year before closure.
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