News Room
As we continue our countdown to the New Year, now is a better time than any to start your financial planning. Take for example education - we all know that education is important and it is a fact that the cost of tuition, especially for tertiary level institutions rises annually. Planning for your education or that of a loved one is key. This is a significant but worthwhile investment, and one way to alleviate some of the potential headaches is by starting a savings plan. This week’s topic will most certainly appeal to you if you are planning to further your studies or planning for a loved one’s educational future. This week’s term: Edu Start
An Edu Start is a type of savings account offered by Bank of Saint Lucia, which allows any potential customer to save towards their education or that of their loved one. The account is opened with a minimum of $100.00 and a minimum monthly deposit of $100.00.
What does this mean for you?
As we stated earlier - furthering your education, like building a home is a significant investment. Therefore, whether it’s for you or your loved one, it is a good idea to start saving early. Opening an Edu Start account affords you the account holder a number of benefits. The interest rate is always 1% above the regular interest rate, 50% of the revenue generated from the Edu Start portfolio is distributed to the accounts holders. So, in addition to receiving interest on the Edu Start Account, the account also receives revenue from the investment when it is realized. The most important benefit and best reward is the pride and success that comes with realizing one’s education goals. For more information on Bank of Saint Lucia’s Edu Start, call a customer service rep at Bank of Saint Lucia at 456-6000.
