An interest bearing deposit account maintained for a specific period of time. This account is evidenced by a Certificate of Time Deposit. Withdrawal before maturity date (pre-termination) may be allowed but subject to substantial interest forfeiture penalties. The following are acceptable forms of deposit.

 

FEATURES

Minimum Deposit Requirement US $ 1,000
Term Minimum of 30 days; Maximum of 365 days
Interest Rate To be based of weekly posted rates; varies depending on term and amount
Documentation Certificate of Time Deposit (CTD)
Documentation Stamp Tax (DST) None
Replacement of Lost CTD None

 

BASIC REQUIREMENTS

 FOR INDIVIDUALS

 Any two (2) valid IDs issued by “Official Authority”

 

FOR SOLE-PROPRIETORSHIPS

 Two (2) valid IDs of the registered owner plus:

 

FOR PARTNERSHIPS

 

FOR CORPORATIONS

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