Home Start

Bank of Saint Lucia provides the building blocks to owning your own home. The account is structured to allow you the flexibility to manage your loans and other commitments while saving for a home. The Home Start Account is a registered account and as such allows for an annual tax return of up to EC$6,000.

Features

Must be 18 - 50 years
Must deposit a minimum of $100 every month therefore maintaining an annual savings of $1,200
Choose a maturity period:
Plan A: Minimum one (1) year, with no tax credit benefit
Plan B: Minimum five (5) years, tax credit of up to $6,000 per annum

Benefits

Earn 0.75% more interest than the regular savings rate
Minimum opening balance of $100
Interest paid quarterly
Allows you to save towards the deposit for a mortgage
No commission on standing orders within BOSL to accounts in the name of the account holder
Subsidized legas fees for the purchase of land or mortgage

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