How does the JN Partna Plan differ from a traditional partner plan?
A partner plan is a traditional Jamaican method of saving, in which several people pool funds by contributing a fixed sum of money over a specified period. The accumulated sum is then withdrawn by each person based on an initial agreed period of time.
The JN Bank Partna Plan is very similar. It allows you to contribute funds to a pool of savings from which you can withdraw the accumulated funds at an agreed time, with the peace of mind that your banker is a safe, secure and credible financial institution.
How is interest calculated on funds in My JN Partna Plan account?
Your interest is calculated daily and applied to your principal at the end of your savings term.
Is the interest on money in My JN Partna Plan taxed?
Yes. The interest on your savings is subject to a withholding tax of 25%.
Can I track my JN Partna Plan and transfer funds to and from my account online?
Banking with JN is convenient and easy. You can check the balance in your account at your convenience using our online banking platform JN LIVE. To register, visit www.jnbslive.com.