MONTHLY SAVING PLAN

A great way to save! Designed as a bond alternative, this convenient plan can be purchased through a payroll savings plan or automatic transfers.

Benefits:
  • Save money with NO FEES
  • Available anytime during the year
  • Withdrawal flexibility – funds available at anytime
  • ONE withdrawal permitted per month without collapsing plan
Features:
  • The Monthly Savings Account is a convenient way to save for that special purchase, vacation, children’s education, or maybe for Christmas expenses.
  • The interest rate is competitive with Canada Savings Bonds.
  • Funds can be paid via payroll deductions, direct deposit, over the counter, via MemberDirect or ATM.
  • Goal amounts can be set in multiples of £50.00.
  • You can cancel at any time without penalty.
  • Interest is calculated on the minimum, daily balance and is paid monthly.
  • Regular deposits do not need to be maintained.
  • One free withdrawal may be made each month.
  • Unlimited access via MemberDirect and TeleService.
  • MemberCard debit cards are not permitted on this account.
  • Passbook option is available.
SAMPLE MSP PAYMENT SCHEDULE

Payment Frequency

Savings Goal*

 

£50

£250

£500

12 monthly

£8.34

£41.67

£41.34

24 bi-monthly

£2.17

£10.84

£20.67

26 bi-weekly

£3.85

£9.24

£19.47

52 weekly

£0.93

£9.62

£9.24

*numbers are rounded