Savings

You may be asking yourself “why do I need to save”? Saving ensures that you; have an emergency fund to cover unexpected expenses, have the deposit and closing costs for a house, have the money or deposit to purchase a car, can pay for your children’s education or your future studies, are prepared for retirement or that you have the money to just enjoy life.

VM Money Maker

Victoria Mutual Building Society - Kingson, Jamaica - VM Money MakerIf you are looking for guaranteed, tax-free returns on your long term savings, the VM Money Maker will help you maximize your hard earned funds with a tax advantaged savings solution.

The VM Money Maker long term savings account offers attractive interest rates with Tax-Free benefits on lump sum deposits that are maintained for 5 years. As an added incentive, accountholders may access up to 75% of the annual interest earned on a quarterly basis. Taxation laws are subject to revision from time to time which may result in changes in your tax liability.

Features and Benefits

  • Start with a minimum of J$25,000
  • Deposit up to J$1 million each year
  • No withholding tax is deducted from funds that are maintained for 5 years.
  • Interest calculated daily to maximize your returns
  • Access up to 75% of the interest earned on a quarterly basis to meet your short term needs.
* Product features & benefits may be revised from time to time at the discretion of the Society and may change without prior notice. Rates are subject to change from time to time without notice.

Best Suited For

  • Individuals wanting to maximize their earnings
  • Individuals wishing to deposit lump sums for the medium to long term
  • Savers seeking a safe tax advantaged savings options
  • Individuals wanting to supplement their retirement savings
  • Individuals receiving lump sum payments such as bonuses, gratuity and retroactive payments etc.

Interested in a VM Money Maker Account

Click here to complete our Online contact request form and one of our Representatives will contact you or you may visit any of our branches.

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