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Savings Accounts
Bank of Saint Lucia recognizes you will need different savings products as you go through your life cycle. We have developed various savings options to help you achieve your goals at every stage of your life. Call or visit any of our branches for the beginning of a lifelong financial friendship.
A+ Club
Regular Savings
Home Start
A+ Club
Bank of Saint Lucia has an achiever plus account (A+ account) to help our children develop that good habit of saving. The A+ account is designed for children and young people up to 18 years old, offering incentives to help keep them saving and aiming for the top.
Features
- Must be under 18 years
- Minimum opening balance of $10
- Account holder can sign on the account at age 7 years
Benefits
- Interest is paid quarterly on balances over $100
- Special A+ Club membership/deposit-only ATM card
- Complete Online Banking
- Special discounts from select partners
- Earn a special reward after 12th deposit
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Annual Back to School Promotion
Regular Savings
All of life's accomplishments have started with a first step. Developing a good savings habit while learning to manage your income is your first step to financial security. A regular savings account from Bank of Saint Lucia facilitates the payment of your salary, payment of your utility bills and access to various convenience services while allowing you to save for future goals and emergencies.
Features
- Must be 18 years and over
- Minimum opening balance of $50
Benefits
- Interest paid quarterly
- Unlimited deposits and withdrawals
- Standing order facility
- Payment of your utility bills
- Complete Online Banking
- Use of your ATM/Visa International debit card at various business outlets
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
* We reserve the right to review our product features, rates and fees in accordance with market conditions.
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