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WIB Youth Savings Plan

The Windward Island Bank Youth Savings Plan is designed to encourage saving amongst all youth on the island.   It is essential that we instill in our children the importance of saving no matter how small the amount.  

OUR SLOGAN IS: "Start small, Save and Get Big"

This is the ideal Slogan for our youngsters to understand and relate to the concepts of saving small amounts from an early and reaping big financial rewards when they get older.

Now is the perfect time to encourage our children to "Save today for a brighter tomorrow".

 

Youth Saving Plan Procedures

  1. Children may not be older than 18 years, and at the age of 21 monies saved are transferred to a regular savings account.
  1. A Youth savings account may be established with a minimum of NAF. 2.50 and deposits are to be made in multiples of NAF. 2.50, not to exceed NAF. 100.00 monthly.
  1. Interest rate is 3% same as a regular savings account payable at the end of each quarter.
  1. If deposits are made on a monthly basis, uninterrupted for three years the Bank will add an additional 5% interest on the balance, plus the accumulated interest on said account.
  1. A youth saving account may only be established in Guilders.
  1. Account must be opened in the names of child and Parents/Guardian.

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