Get those Goals!

    Long-term Certificate of Deposit that offers a higher rate of return on your savings!


    • Available in Jamaica dollars only
    • Long-term Certificate of Deposit
    • One-time deposit
    • Save for 7 or 10 years
    • Open your account with a minimum of $J100,000


    • Guaranteed interest payments of up to 30%*
    • Tax-free*
    • Deposit and interest insured in the event of death, disability or critical illness*

    *conditions apply

    7 Year Rate EAIR 10 Year Rate EAIR
    2.76% 2.7952% 2.66% 2.6927%

    Start saving towards your goal today!
    We’ll help you find a way!

    What you need to get started:

    Government-issued ID

    Birth certificate

    Proof of address

    utility bill, credit card statement or bank statement

    Proof of income

    income verification letter or completed JN Bank income verification form

    Taxpayer’s Registration Number

    Source of funds

    Two (2) references

    For self-employed persons

    bank statements for primary account displaying last 12 months’ activity, current financial statements, if available, and Auditor’s Confirmation

    Frequently Asked Questions

    How much can I earn on my money?

    With the JN Bank GoalSaver account you can earn up to 30 per cent on your funds saved for 10 years and up to 21 per cent on funds saved for seven years.

    Long-term accounts are usually five years, why is JN Bank offering a longer term to save?

    You are correct.  JN Bank is the only commercial bank offering a certificate of deposit that allows you to save for more than five years, while earning great interest. This provides you with many benefits:

    • You can save towards long-term goals knowing that you will be guaranteed high returns on your deposit
    • It is a low risk and secure means of earning high rates on your money
    • There are no monthly fees
    • Your earnings are tax-free*
    • It provides another means of diversifying your income
    • And, your money is insured by JN Life, which means your interest payment due at maturity is guaranteed at any point after the first three months of opening your account if you suddenly pass away, become permanently disabled, or critically ill and need early access to your money

    In other words, your JN Bank GoalSaver account is designed to provide you with fantastic returns, security and peace of mind!

    How much do I need to open my account?

    You can start saving with a minimum of J$100,000.

    I already save with JN Bank, can I transfer the money from my other account to my JN Bank GoalSaver account?

    Yes you can.

    I usually put aside money on a monthly basis for savings, can I deposit it each month to my JN Bank Goal account?

    Unfortunately no, the JN Bank GoalSaver account is designed for you to make only one initial deposit of no less than $100,000. You will not be able to make additional deposits to your JN Bank GoalSaver account after your initial deposit. However, not to worry JN Bank offers other great long-term and medium-term savings plans that can help you to achieve your goals. These include our medium-term Jamaican dollar JN Bank BeWise savings account, which offers you a bonus interest of one per cent on additional deposits of more than $50,000, but less than $1 million during a 12-month period.

    What if I want to borrow funds from JN Bank, can I borrow against the savings in my JN Bank GoalSaver account?

    Unfortunately, no, you will not be able to use the money in your JN Bank GoalSaver account as collateral for a Cash Secured Loan, because your funds have been fixed for long-term savings and is eligible for tax exemption. Funds in an account that benefit from a tax exemption, are prohibited, by law, from being used collateral for loans.

    Can I save in US dollars or another foreign currency?

    At this time, only Jamaican dollar deposits can be made to your account.

    What critical illnesses/ life occurrences does my JN Life policy cover?

    You can draw down on your interest payment due at maturity after the first three months of starting your savings plan, if you:

    1. Develop cancer
    2. Have a stroke
    3. Get a heart attack
    4. Receive major burns
    5. End up in a coma
    6. Become paralysed
    7. Lose your ability to speak
    8. Develop hearing loss
    9. Become blind

    How are my insurance premiums paid?

     JN Bank pays the premiums to maintain your JN Life insurance coverage on your JN Bank GoalSaver account. Your premiums are determined by:

    • Your age
    • How long you will save for
    • The interest due at maturity
    • Premium rates provided by JN Life

    What do you mean by maturity date?

    Your maturity date refers to the final day, during the agreed period of savings, when you will no longer earn an interest on your deposit. Depending on how long you chose to save, your maturity date will be 10 years from the day you started your JN Bank GoalSaver account, or seven years from the day you opened your account. From that day onwards, you can withdraw from your account without penalty.

    What happens if I withdraw money from my account before the maturity date?

    A penalty of J$1,000 will be deducted from the principal balance in your account for any early closure. However, in cases where accounts are closed before maturity for reasons not covered by your JN Life insurance plan on your account, you will have to forgo 50 per cent of the interest earned on your money.


    An insurance premium will also be deducted from the principal balance in accounts closed within the first six months of opening.

    I have reached the age of retirement and I have received my pension benefits and would like to save some of the money. Could I put it in a JN Bank GoalSaver account?

    Unfortunately, only persons under the age of 60 years-old can save in a JN Bank GoalSaver account.