What is it?

Local savings accounts are locally held interest-bearing accounts. They are available in either local currency or foreign currency denominations. With our savings accounts you are able to concentrate and manage your funds in either local or foreign currency.

How does it work?

	You are able to access your funds by means of a withdrawal slip. Deposits can take the form of cash, cheques or transfers in.
	Interest is compounded quarterly and is based on the average monthly balance.
	At the end of each quarter you will receive an account statement detailing your transactions.
	All deposits at Citibank®, N.A. Jamaica are insured by the Jamaica Deposit Insurance Corporation (JDIC) up to an aggregate amount of J$300,000 or foreign exchange equivalent. This is in accordance with the rules and regulation established by the JDIC unless otherwise specified. JDIC does not protect against foreign currency losses.

What are the benefits?

	Peace of mind: A savings account provides you with the guarantee and confidence of having a solid investment.
	Competitive interest rates: You will receive the benefit of compounding of competitive interest rates.
	Service: Assistance from our capable and courteous personnel.

What are the requirements?

	For Jamaican dollar accounts an initial minimum deposit of JA$10,000 is required and an average minimum monthly balance of JA$10,000 maintained.
	For US dollar accounts an initial minimum deposit of US$500 is required and an average minimum monthly balance of US$500 maintained.
	In addition to completing our account opening documentation, the following are required for opening any of our chequing or savings accounts: Certified constitutive documents for your organisation Two pieces of photo identification for each of the signers on the account(s) Two financial references

Go back to Cash Management