Passbook Savings Account

The Passbook Savings Account is one of the Bank’s regular savings accounts, for which all transactions are recorded in a passbook.  This type of account is best suited for individuals who wish to save over a long period of time and would appreciate or benefit from restricted access to funds.

The following highlight the criteria/features of the NBVI’s Passbook Savings Account:

  • Minimum initial deposit of five dollars ($5.00) to open the account
  • Low minimum balance of twenty dollars ($20.00) required to maintain the account
  • Free internet banking (balance viewing only)
  • Quarterly interest payments – interest will only be earned if the average daily balance of a cycle (3 months) is greater than one hundred dollars ($100.00)
  • NBVI Passbook
  • Free over-the-counter withdrawals and deposits
  • No Bank Card
  • Monthly service charge of five dollars ($5.00) for falling below the minimum balance (calculated on the monthly average balance)