The JN High Yield Savings Account is a contractual savings plan to encourage the discipline of consistent saving. It provides the perfect opportunity to enhance your wealth and move forward in life. Designed with goals in mind, this contractual savings account is the right savings option for you to achieve your goals faster.
Save a fixed amount every month for 12 months and receive a guaranteed higher rate of return. Available in 4 currencies!
How it works:
Save a minimum of: J$5,000, CDN$100, GBP 100 or US$100 each month.
- Savers must sign a pledge indicating acceptance of terms and conditions
- A minimum of the pledged amount must be deposited monthly
- The interest will be calculated daily and credited at the end of a one year period
- The monthly amount can be paid in multiples in the same month
- There is no maximum monthly deposit
- Post-dated cheques are acceptable i.e. members may hand in 12 cheques for their account and these will be processed by JNBS each month as they become due. In the case of foreign currency accounts where J$ cheques are being lodged, JNBS will convert to US$ at the day’s special rate to members.
- At the end of the 12 month period, proceeds of the JN High Yield Contractual savings account will be deposited directly into your account or you can choose to renew the contract for another year.
| 5,000 – 19,999 | 2.25% |
| 20,000 and 35,000 | 2.5% |
| 35,000 and 50,000 | 2.75% |
| 50,000 | 3.00% |
Members Residing Overseas
- The High Yield contract should be signed by you and witnessed by a Notary Public.
- A notarised copy of your valid identification (Passport Driver’s Licence or Elector Identification Card) is required.
- Only International Money Order cheque will be accepted to open a new account although personal cheques will be accepted for the monthly deposits thereafter.
- Complete a signature card.
- Two References
- Source of Funds
- Complete the Customer Information Form (CIF) and submit Utility Bill or statement with your address.(applicable if you are a new member of JNBS)
- Proof of your address (utility bill, receipt or other bills).
Members Residing in Jamaica
Visit any of our 29 locations across the island to open your account.
- Sign the High Yield contract
- Present your valid identification (Passport Driver’s Licence or Elector Identification Card) is required
- Manager’s cheque or cash will be accepted to open a new account although personal cheques will be accepted for the monthly deposits thereafter.
- Complete a signature card
- Complete a signature card
- Complete a signature card
- Proof of address (utility bill, receipt or other bills)
- Complete the Customer Information Form and submit a utility bill or statement with your address. (Applicable if you are a new member of JNBS.)
A penalty rate will be applied to accounts breached within the first 6 months of opening. A rate will also be applied to accounts that are breached in the last six months of the 12 month contractual period.
