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Savings Accounts

Build a long-lasting foundation with an ECAB Savings Account. We offer safe and convenient ways for you to save money and plan for your future. Choose from our wide-range of accounts including Home Savings, Regular, Smart Start, College and Super Savings accounts designed to maximize your money and meet your individual financial needs.

Our savings accounts offer many benefits including:
  • Quarterly interest payments.
  • Online statements
  • FREE 24 hour access via ATM’s, Telephone & E-Banking.

*This excludes the Super Savings Account.

ECCU First Step Savings Account

Over 18 years of age and never held a bank account? The ECCU First Step is a simple, hassle-free way to start your financial journey.


Minimum Deposit 
$ 0.00 
 

Note: International wires and transfers outside the Currency Union are not available with this account.

Features & Benefits

  • Available to ECCU residents 18 years and over who are first time account holders
  • No Monthly Fees
  • Standard Saving interest rate
  • No Minimum Deposit
  • Deposit activity must not exceed EC$3,000 per month or EC$36,000 per year.
  • Free Debit Card for purchases
  • FREE 24 hour access via ATMs, MOREBanking Online and Mobile.
Home Savings

Given up hope of owning your own home? Saving for your home is easy with an ECAB Home Savings account. Home Savings are designed to help you boost your savings for a deposit on your first home or to make additions or improvements to your home.


Minimum Deposit 
$ 200.00 
 

Features & Benefits

  • 2.25% p.a. Interest Rate
  • Withdrawal requests by Customer Payment Order Form only and limited to:
    • Building/Purchasing a home
    • Renovating your home
    • Property insurance premiums
    • Property taxes
    • Closing cost and other expenses associated with owning your home, e.g. legal fees, valuations
  • Unlimited number of deposits allowed.
  • Automatic transfers from your checking account to your savings account allow you to put saving money for the house down payment on autopilot.
  • Monthly additions can be bundled with your Land or Mortgage loan payments for automatic savings additions.
  • No monthly service charge to maintain the account.
Regular Savings

Great for first time savers or persons looking to build up their bank account balance.


Minimum Deposit
$ 50.00
 

Features & Benefits

  • 2.00% p.a. Interest Rate
  • Quarterly Interest Payments
  • Unlimited Free Counter Transactions
  • MOREBanking Online and Mobile.
Statement Savings

Great for first time savers or persons looking to build up their bank account balance.


Minimum Deposit 
$ 200.00

Features & Benefits

  • 2.00% p.a. Interest Rate
  • Quarterly Interest Payments
  • Online Statements
  • Unlimited Free Counter Transactions
  • FREE 24 hour access via ATM’s, MOREBanking Online and Mobile.
Super Savings

Combines the features of a CD with the flexibility of a regular savings account which allows you to earn higher interest rates while maintaining easy access to your cash


Minimum Deposit
$ 1,000.00
 

Features & Benefits

  • Competitive Interest rate starting at 2.00%-2.25% p.a.
  • Unlimited Deposits.
  • Additional deposit minimum is $500.
  • Eligible for one penalty free withdrawal every quarter.
  • Quarterly Interest Payments
  • Quarterly Statements
  • Unlimited Free Counter Transactions
  • FREE 24 hour access via ATM’s, MOREBanking Online and Mobile.
Smart Start Savings

Available to children 7-18 years old and have many special features that will make saving fun and exciting.


Minimum Deposit
$ 20.00

Features & Benefits

  • Available to children 7-18 years old.
  • Above average interest rate of 2.25% per annum.
  • Quarterly Interest Payments.
  • No monthly service charge
  • Unlimited Free Counter Transactions
College Savings

Great way to reinvest funds from your smart start account after you turn 18 and want to start saving for college.


Minimum Deposit
$ 500.00

Features & Benefits

  • Above average interest rate of 2.25% per annum.
  • No monthly service charge
  • FREE 24 hour access via MOREBanking Online and Mobile.
  • Withdrawals are allowed for educational purposes and can include tuition fees, room/board, housing expenses, books, or other qualified educational expenses.
  • All withdrawals will be made payable directly to the Institution at which the course of study is to be taken or the payee designated on the invoice for other educational expenses.
  • Presentation of invoices or letter of acceptance from the school or university/college required for withdrawals to be made.
  • A 10% penalty on accrued interest will be charged if the withdrawals are not used to cover educational costs, and the balance of the funds on the account must be transferred to a Regular Savings account.
  • Deposits can be made via automatic debits from your regular savings or current account, via standing order or salary deduction.
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