Requirements
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
- 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.)
- The minimum amount of JA$25,000.00 required for opening the account.
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.
Local Rates
| 30 Days | 90 Days | 180 Days | 365 Days | |
|---|---|---|---|---|
| $25,000 - $49,999 | 2.00% | 2.25% | 1.75% | 1.75% |
| $50,00 - $199,999 | 2.25% | 2.50% | 2.00% | 2.00% |
| $200,000- $499,999 | 2.75% | 3.00% | 2.50% | 2.50% |
| $500,000-$1,999,999.99 | 3.05% | 3.35% | 2.85% | 2.85% |
| $2,000,000 -$4,999,999.99 | 3.25% | 3.50% | 3.00% | 3.00% |
| $5,000,000 and over | 3.50% | 3.75% | 3.50% | 3.50% |
Overseas Rates
The LSA Long Term Share Account is a relatively higher interest-bearing tax-free investment instrument where savers agree to maintain the original balance/deposit, and any subsequent deposits for a minimum of five (5) years.
The required 25% government withholding tax will not be charged on the interest earned on the investment over the agreed 5-year period, if the principal (funds deposited) are not withdrawn during the agreed savings period. Savers are allowed, however, to withdraw up to 75% of any given year’s interest income, and leave the remaining 25% in the investment instrument.
How it Works:
After five years, the percentage withheld will be refunded (if no withdrawal of principal)
Minimum to open JA$25,000
Maximum yearly investment JA$1,000,000
Maximum investment JA$5,000,000
Interest is credited quarterly and the rate is reviewed every 90 days
