1. A customer (“Customer”) must open a new US Dollar SuperSaver account (“Account”) with an initial deposit of at least USD5,000. A Customer is eligible to open only one (1) Account.
2. The Account will earn a Base Interest plus Bonus Interest based on the rates here.
3. The Base Interest earned by qualified Accounts will be credited at the end of each calendar month, while the Bonus Interest will be credited one (1) banking day after month-end. Interest earned will be subjected to a 15% withholding tax. Accounts that fall below USD5,000 ADB are not eligible to earn any interest.
4. If the Account is closed before crediting of interest, any interest earned on the Account shall be forfeited. EW will not pay the accrued interest whether in full, in part or pro-rated.
5. US Dollar SuperSaver features, requirements, fees and charges are as follows:
Initial Deposit Requirement | USD5,000 |
Required Monthly ADB | USD5,000 |
Minimum Monthly ADB to Earn Interest | USD5,000 |
Documentation | Passbook |
Fund Access | Over the Counter (OTC) |
OTC Deposit and Withdrawal | Waived |
Withholding Tax on Interest | 15% |
Fee for Falling Below Required Monthly ADB for 2 consecutive months | USD10 |
Early Closure Fee (if Account is closed within 30 days from account opening date) | USD10 |
6. All Account openings are subject to EW’s existing policies and procedures.