Retire EZ Account
Build your Nest Egg with an ECAB Retire EZ Account. Our Retire EZ Account (REZA) offers great returns for your money and provides an excellent source of income to supplement your Pension or other retirement benefits.
ECAB’s REZA is available for a minimum of 10 year terms offering you:
- Opening deposits as little as EC$100.00.
- Interest rate starting at 2.50% p.a. and varies depending on the account balance.
- Flexible maturity date ranging from age of 55 - 65.
- Optional Term life insurance up to a maximum of $50,000 for the duration of the Plan.
- Personal Income Tax deductible allowance of 20% up $2,000 of annual contributions ($100 minimum).
- Monthly contributions can be increased at any time. Lump sum payments are allowed.
- Non contributory periods allowance for:
- Medical Attention
- Full-time studies
- Annual statement of contributions provided for tax purposes.
- Option to take payments in the following manner at retirement:
- lump sum
- Partial distribution and reduced annuity
Terms & Conditions:
- Compulsory monthly additions of EC$100.00 per month to keep your nest egg growing.
- Minimum contribution period of 10 years up to the maturity of the Plan.
- Monthly deposits must be made via Automatic debits from your regular savings account, Salary Deduction or Standing Order Authorization only.
- No withdrawals are allowed.
View our REZA brochure for more information on this product or apply for an ECAB REZA Account today.