Frequently asked questions

Can anyone open a savings account?
Yes, anyone can open a savings account. There are different packages available depending on your needs and situation.

How often will I need to make deposits?
After opening your account and making your initial deposit, you may make additional deposits as often as you want. Normally there are no requirements or restrictions regarding this, unlike a pension plan which requires you to make regular payments to sustain.

How can I access the funds in my savings account?
This depends on the type of account you have with your bank, as well as the terms and conditions you have arranged with them. Always make sure you know the terms that apply to your account before making your first deposit.

Will I need to deposit a certain amount of money in a savings account?
Some savings accounts will specify a minimum required deposit. The amount depends on the type of savings account you have. Normally, a basic savings account doesn’t have a minimum deposit requirement, but high interest savings accounts usually do (as in the case of bonds and money market accounts).