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MONEY MARKETS :: Long Term Investment Account
Every investor deserves a tax break. Now you can have one, with our Long Term Investment Accounts. Our Long Term Investment Accounts offer a "Tax Free" opportunity, for investments of up to $1 million in a calendar year, providing that you keep your investments for at least five years. Built into this investment option, is the ability to access up to 75% of the interest earnings on the investment, allowing you the flexibility of reinvesting your interest earnings in other investment options.
You will also have the benefit of higher yields than other money market instruments, daily interest accrual and interest paid on a quarterly basis.
A Long Term Investment Account is your chance to start maximizing your investment dollar and is ideal for the entrepreneur or self-employed investor, as part of their long-term investment plan.
Facts about Long Term Investment Accounts:
- Minimum Investment: J$ 500,000
- Maximum investment of $1 million in any calendar year.
- Tax free returns on interest earned on principal held for five years
- Offers daily interest accrual. As such, clients benefit from compounded interest payments
- Ideal for mid to long-term goals, such as supplementing retirement income, home deposit, home improvement, education etc.
- Each investment will have its own maturity date, which is five (5) years from the date of the investment.
- Client can access up to 75% of the interest earned on the investment.
- Early encashment will result in interest accrued on the account, being subject to tax, at the full income tax rate of 25%.
- Interest is credited at the end of each quarter being March, June, September and December.
- Rates are very competitive and are reviewed twice per year.
Ideal for …
- the entrepreneur or self-employed investor
- saving for retirement
- your child's education fund
- being a part of a long-term investment plan.
- tax planning, (tax free/deffered returns)
Find out more about your Long Term Investment Account when you call us at 1-888-2-INVEST (468378) or email us at fgfscsr@gkco.com.