Christmas Club Direct Debit

  • This is an interest-bearing account
  • Interest will not be compounded on this account
  • Interest will be credited to the account at maturity
  • If the account is closed before interest is credited, you will not receive the accrued interest
  • At maturity the funds in the account will be credited to another account
  • The average daily balance method is used to calculate interest for the account, which applies a periodic rate to the average daily balance in the account for the period
  • Requires a $5.00 minimum deposit to open this account
  • Payments made by direct deposit from another deposit account or by some other form of automated deposit on a predetermined frequency
  • You may not make withdrawals from your account until the maturity date
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