Compare Personal Bank Accounts

JN Bank Redi Save Savings Account
JN Bank
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Best for Savings
JMMB EzAccess Chequing Account
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Best for Spending
VM Premier Club Savings Account
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Best for Savings
Account Type
Savings
Chequing
Savings
Monthly Fee
J$0
J$0
J$0
Minimum Balance
J$0.00
J$0.00
J$0.00
POS and ABM Fees
J$10.00 - J$59.23
Free - J$60.00
Free - J$96.03
ACH and RTGS Fees
J$17.77 - J$1,190.00
Free - J$495.00
J$17 - J$550
Key Features
  • Easy Start: Open your account quickly with minimal requirements
  • Bank online with JN LIVE. Enjoy free ATM withdrawals at JN ATMs
  • Low Minimum Deposit: Begin saving with as little as JA$100
  • No monthly fees, minimums or dormancy charges
  • Free in-branch deposits, withdrawals & cheque encashments
  • Earn interest daily, paid out monthly
  • Exclusive Perks: Access preferential interest rates and fee discounts tailored for seniors
  • Personalized Service: Enjoy dedicated teller service and a comfortable waiting area
  • Peace of Mind: Benefit from a banking experience designed specifically for seniors
Additional Details
  • Easy Account Opening: Simplify your banking experience by opening your account quickly with just your TRN and ID. No lengthy paperwork or complicated procedures.
  • Low Initial Deposit: Start your savings journey with an affordable minimum deposit of only J$100.
  • Monthly Deposit Limit: Maximize your savings potential with the flexibility to deposit up to J$200,000 each month.
  • No Hidden Fees: Enjoy no minimum balance fee and no monthly service charge.
  • Free ATM Transactions: Benefit from free transactions at JN ATMs, allowing you to withdraw your money without additional costs.
  • Exclusive Discounts: Take advantage of significant savings with discounts from nearly 200 merchants using your JN card.
  • Convenient Online Banking: Manage your account on the go with JN LIVE.
  • Additional Perks: Enjoy a 10% discount on Jamaica Automobile Association membership and 20% off motor insurance with JN General Insurance Company Ltd.
  • JDIC Insurance Coverage: The JN Bank Redi Save Savings Account is insured up to J$1,200,000 by the Jamaica Deposit Insurance Corporation (JDIC) scheme.
  • Transparent Fees: JN Bank offers clear and transparent fee structures. For a detailed list of fees associated with this account, please refer to our Schedule of Rates Charges.
  • No Monthly Maintenance Fees: Say goodbye to monthly maintenance fees, minimum monthly balance requirements and account dormancy fees.
  • Easy Access to Your Cash: Enjoy the convenience of free deposits, withdrawals, and cheque encashments at any JMMB branch. Plus, access your cash island-wide with your JMMB Bank Visa debit card at any Visa certified ATM.
  • Convenient use: Enjoy the convenience of free online bill payments.
  • Free Fund Transfers: Move your money freely between your JMMB accounts and accounts at other local institutions without incurring any fees.
  • Free ATM Withdrawals: Enjoy the first 4 JMMB ATM withdrawals free each month. After that, it’s just J$25 per withdrawal. For other ATMs, it’s only JA$60 per withdrawal.
  • Cash JMMB Cheques for Free: You can cash JMMB Bank cheques at any branch without a fee.
  • JDIC Insurance Coverage: The JMMB EzAccess Chequing Account is insured up to J$1,200,000.00 by the Jamaica Deposit Insurance Corporation (JDIC) scheme.
  • Straightforward Fee Structure: JMMB prides itself on a clear and transparent fee structure. For a complete list of fees associated with this account, please refer to JMMB’s Fee schedule.
  • Available to Seniors: If you are 55 years or older, enjoy exclusive benefits tailored just for you with the Victoria Premier Club.
  • Preferential Interest Rates: Enjoy enhanced interest rates on your savings, giving you more value from your investments.
  • 50% Discount on Fees: Benefit from significant discounts on most transactions and complete fee exemptions for select services.
  • Dedicated Teller: Experience expedited service with a special teller dedicated to addressing your specific needs efficiently.
  • Special Waiting Area: Relax in a comfortable and exclusive waiting area, avoiding long lines and enhancing your banking experience.
  • Manage Your Account with VM Express Online: Access and control your account conveniently anytime, anywhere through VM Express Online.
  • JDIC Insurance Coverage: The VM Premier Club Savings Account is insured up to J$1,200,000 by the Jamaica Deposit Insurance Corporation (JDIC) scheme.
  • Transparent Fees: VMBS offers a clear and straightforward fee structure. For detailed information, please consult VMBS’s Personal Schedule of Fees & Charges.

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Investment Disclosure - Managed Funds

Please note that past performance of managed funds, including unit trusts and mutual funds, does not guarantee future results. While historical performance can provide valuable insights into a fund’s track record and management capabilities, it should not be the sole basis for making investment decisions.

Managed funds are subject to market fluctuations, economic conditions and various other factors that may affect their performance. Investors should carefully consider their investment objectives, risk tolerance and financial situation before investing in any managed fund.

Additionally, it’s essential to conduct thorough research and consult with a qualified financial advisor to ensure that the selected managed fund aligns with your individual investment goals and preferences.

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Fixed Income Investment Disclaimer:

  • Interest Rate Risk: The value of your fixed income investment may decline if interest rates rise. As rates go up, investors may be able to earn higher returns on new investments, potentially making your existing fixed-rate investment less attractive.
  • Credit Risk: There is always the possibility that the issuer of a fixed income security, like a CD, may default on their obligation to repay your principal or interest. This risk is generally lower with government-backed securities but can be higher with corporate bonds.
  • Market Volatility: Even fixed income investments can experience some price fluctuation, especially in secondary markets where they may be sold before maturity.
  • Early Withdrawal Penalties: Some fixed income investments, like CDs, may impose penalties if you withdraw your funds before the maturity date.

Before investing in any fixed income product, carefully consider your investment goals, time horizon, and risk tolerance. It’s important to understand the specific features and risks associated with each type of investment. Consider consulting with a financial advisor to ensure these investments align with your overall financial plan.

This information is for general purposes only and does not constitute financial advice.

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Last Updated: March 8, 2024. 

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