01
Savings Account
An everyday ledger for building a balance, with interest that compounds monthly.
Overview
How this ledger works
The Savings Account is designed for regular deposits and occasional withdrawals. Interest is calculated daily on the closing balance and credited monthly, so the balance keeps working even between visits to the passbook.
Key features
- Interest calculated daily, credited monthly
- Free passbook-style statement (demo) every month
- Linked debit card available on request
- Unlimited deposits, limited free withdrawals per month
Who it's for
- Individuals aged 18 and above
- First-time account holders welcome
- Joint holders permitted with either-or-survivor mandate
Rates & charges (illustrative)
| Detail | Value |
|---|---|
| Minimum opening deposit | $25.00 |
| Minimum monthly balance | $10.00 |
| Illustrative interest rate | 3.10% p.a. |
| Free withdrawals per month | 5 |
| Below-minimum balance fee | $2.00 / month |
Frequently asked
In this model, interest accrues daily and is credited to the account once a month.
Yes, an illustrative minimum of $10.00 is used; falling below it triggers a small demo fee.
Yes, the model supports a joint either-or-survivor mandate on this ledger.
Express Interest
Open this account
confirmation
Your interest in a Savings Account has been logged in mode only. Reference no. EDU-000000. No real action has been taken.