Maximum Savings with Nations Max Bonus

Friday, 6 March 2020 00:00 - - {{hitsCtrl.values.hits}}

Nations Trust Bank continues its tradition of helping people achieve today’s goals and tomorrow’s aspirations with Nations Max Bonus Savings Account. Conceptualised as a product that will incentivise saving and instil discipline as a habit, Max Bonus Savings will generate a handsome return on savings for depositors with up to 60% bonus interest each month, whilst providing them with the flexibility to access funds when most necessary.

The Nations Max Bonus Savings Account came about after extensive research by Nations Trust Bank. They uncovered that most people would like to save but end up not doing so as their immediate cash needs take precedence. It was also clear that added incentives over and above regular interest benefits would make people more disciplined when it comes to putting some money aside, on a regular basis.

The Max Bonus Savings Account can be opened with as little as Rs. 2,000.00, with accountholders with balances over Rs. 250,000 receiving 60% bonus interest, while bonus interest for balances over Rs. 10,000 starts at 30%. The account statement shows the regular and bonus interest separately, showcasing the extra earnings to depositors and prompting them to limit irregular withdrawals that affect the bonus, and to work towards the milestone savings limits to maximise earning.

Nations Trust Bank’s Senior Vice President – Branch Network Sheahan Daniel commenting on the Max Bonus Savings Account said: “Saving for the future is very important and generating a good return on savings is also important. In addition to this, for most people, easy access to their funds is also critical. Thus, Nations Max Bonus is the best all-round savings account in terms of high yield, flexibility and access. Furthermore, accountholders can customise the benefits in line with their personal financial discipline standards. For example, a customer who may be tempted to withdraw money on impulse can choose not to obtain the Debit Card.”

The Nations Max Bonus Savings Account has a primary objective to act as a savings buffer during periods of adversity with a reasonable rate of return over the long term. The product also provides account holders with a free life insurance cover of Rs. 100,000 up to age 70 along with a free critical insurance cover of Rs. 25,000 up to age 60. Both covers automatically become active after one month of opening the account. And also, accountholders are required to maintain their savings as a minimum balance of Rs. 10,000 in their accounts to enjoy the above benefits.

Max Bonus Savings Accounts always allow customers access to their funds, with the option to make one withdrawal each month without affecting the interest bonus. Each accountholder also enjoys the benefit of an overdraft facility in-line with their Max Bonus Savings Account balance so that funds can easily be accessed for emergencies. Accountholders are entitled to a Nations Shopping Debit Card along with free access to Internet Banking and Mobile Banking.

SMS alerts on all transactions are sent and the accountholder can opt to receive a bank statement or a savings account

passbook.