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Frequently Asked Questions
Get answers to frequently asked questions about Victoria Mutual Building Society (VMBS) savings and deposit accounts, personal loans and mortgages, value added services and members benefits.
- FATCA - a new regulation enacted by the U.S. Government, which will require foreign financial institutions to report specific information on accounts held by U.S. persons to the Internal Revenue Service (IRS).
- iSave - encourages the discipline of consistent saving and is ideal when working towards major life goals: including but not limited to: deposit for your house, car and/or a dream vacation.
- Save2Grow - this multi-tiered account is specially designed for students currently enrolled at the primary, secondary or tertiary level. It also provides incentives such as scholarships and bursaries
- iGain CD - provides highly competitive interest rates on lump sums of money deposited in British pounds, US, Canadian or Jamaican dollars.
- Money Maker - is a high yielding, long-term (5-year), tax-free Jamaican dollar savings account, deposits start at J$25,000 up to a maximum of J$1,000,000.
- Foreign Currency Accounts - offers many options to save. Accounts are offered as Share or Deposit Accounts, available to residents and non-residents.
- Members Benefits - as a mutual organization, VMBS is owned by and run for the benefits of its members. Benefits include higher rates, lower lending rates, no or minimum fees at the ATM or in-branch
- Share Loans - use the balance in your savings and/or deposit account to secure a Share Loan and continue to earn interest on while accessing a quick and easy loan
- Mortgage Loans - whether you are already a member of the VM family or you are in the market for a mortgage loan, we have a mortgage plan to meet your needs.
- Commercial Loans - If your business needs are purchasing property, the VM Commercial Mortgage is an excellent option with financing up to 60% of the value of the property to be used as collateral.
- Home Equity Loans - The equity you currently hold in your home is an asset that can be used for additional borrowing to achieve other life goals and cover critical expenses
- Construction Loans - VMBS will provide you with a loan for the construction of your dream home, which is based on the value of the dwelling on completion not the just the value of the property
- Victoria Premier Club - VMBS members 55 years and over can join the Victoria Premiere Club which offers special benefits.
- Bridal Registry - The VM Bridal Registry Account is the ideal way to have your friends and family members contribute to your savings and get you started on the road to achieving your dream of homeownership
- VMBS Express24 ABM Card - Why pay more when you can get the best financial rates at VMBS. Our products are designed with you our valued customers in mind
- Victoria GIFT - Victoria GIFT which is short for Victoria Group Interest Funds Transfer is an easy, convenient way to give a GIFT to your association or group
- Gift Certificates - The VMBS Gift Certificate is designed for loved ones of all ages that are celebrating memorable occasions. It truly is "The Perfect Gift".
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