Opportunity Doesn't Wait
Earn Up to 6% with Our Exclusive 12-Month Sterling CD—Limited-Time Investment Opportunity Ending October 28, 2024
Maximise Your Returns with the VMBS 12-Month Sterling CD
Seize the opportunity to enhance your portfolio with a fixed-term investment offering market-leading annual interest rates. Our exclusive 12-month Sterling Certificate of Deposit (CD) is designed to align with your financial goals, providing steady earnings and capital preservation.
Investment Amount | Annual Interest Rate (p.a.) |
|---|---|
£150,000 – £499,999 | 4.50% |
£500,000 – £999,999 | 5.50% |
£1,000,000 and above | 6.00% |
Think of us as your financial partner, offering the tools and guidance you need to navigate life’s financial twists and turns with confidence. We’re here to empower and support you, because your success is how we measure ours.
- Maximise Returns: Achieve higher yields over the next 12 months to accelerate your financial growth.
- Secure Investment: Benefit from the stability of a fixed-term deposit in Pound Sterling.
- Strategic Diversification: Enhance your portfolio by adding a stable currency asset to mitigate exposure to market volatility.
Don't Miss Out—Act Now!
This exclusive offer is available only until October 28, 2024. Acting today could position your savings portfolio to capitalise on current market conditions.
Simply fill out the form below, and one of our Relationship Managers will contact you to discuss how this opportunity aligns with your financial objectives.
Frequently Asked Questions
What is a Sterling Certificate of Deposit (CD)?
A Sterling Certificate of Deposit is a fixed-term deposit in Pound Sterling that offers a fixed interest rate over a specified period. It is a secure investment option providing predictable returns.
Who is eligible to invest in this offering?
This opportunity is available to individuals who meet the minimum amount of £150,000. Both existing VMBS clients and new clients who meet the minimum criteria are welcome to participate. Offer applies to new funds only.
What is the minimum and maximum investment amount?
- Minimum Amount: £150,000
- Maximum Amount: There is no specified maximum per individual.
When does the Certificate of Deposit mature?
The CD matures 12 months from the date of deposit. For example, if you invest on October 28, 2024, your CD will mature on October 28, 2025.
How is the interest calculated and paid?
Interest is calculated on a simple interest basis over the 12-month term. It is paid in full at maturity directly to your designated account.
What happens at maturity?
At maturity, you can choose to:
- Redeem Your CD: Receive your principal amount plus the accrued interest.
- Reinvest: Subject to available offerings at that time, you may choose to reinvest your funds into a new product.
Is early withdrawal allowed?
No, early withdrawal is not permitted. Funds are locked in for the full 12-month term to ensure you receive the full benefit of the fixed interest rate.
Are there any fees associated with this product?
There are no setup or management fees associated with this CD. However, please consult with your financial advisor regarding any potential external fees or charges that may apply.
Is the interest compounded or simple?
The interest on this CD is calculated on a simple interest basis and paid at maturity.
How do currency exchange rates affect my funds?
If you are converting funds from another currency into Pound Sterling, currency exchange rates will affect the initial amount invested. They may impact your overall returns when converting back from pounds sterling to your base currency at maturity. Please consider potential currency fluctuations and consult with your financial advisor.
What are the tax implications of this investment?
Interest earned may be subject to withholding tax per applicable laws and regulations in your country of residence and Jamaica. We recommend consulting with a tax professional to understand the specific tax implications for your situation.
How do I fund my Certificate of Deposit?
After your application is approved, our Relationship Manager will provide you with the necessary account details and instructions on how to transfer your funds securely.
Can I nominate a beneficiary for my CD?
Yes, you can nominate a beneficiary for your CD. Please inform your Relationship Manager during the account setup process to complete the necessary documentation.
How do I get started?
Simply fill out the contact form above, and a Relationship Manager will reach out to guide you through the process.
What documentation is required to open the CD?
Existing VM Building Society Members will need to provide the following:
- Valid government-issued identification (e.g., passport, driver’s license)
- Source of funds declaration
- Any other documentation required for compliance purposes
New Members will need to provide:
- Valid government-issued identification (e.g., passport, driver’s license)
- Proof of address (e.g., utility bill, bank statement)
- Proof of Income
- Tax Identification – TRN/SSN/NIN/TIN
- Source of funds declaration
- Any other documentation required for compliance purposes
Who can I contact for more information?
You can:
- Contact Your VM Relationship Manager
- Visit Your Local Representative Office
- Call Member Engagement:
- Tel: (876) 754-VMBS (8627)
- Toll-Free (Jamaica): 1-888-YES-VMBS (937-8627)
- Toll-Free (USA/Canada): 1-866-967-VMBS (8627)
- Free Phone (UK): 0-800-068-VMBS (8627)
*Investors must meet the minimum investment amount of £150,000.
*This offer applies exclusively to new funds deposited during the offer period.
