What type of accounts does Caribbean Union Bank offer?

For those looking to save and grow their funds in the Eastern Caribbean dollar currency, the bank offers several savings account choices.

Caribbean Union Bank (CUB) also has various checking or current account solutions designed to facilitate everyday transactions and money management in the Antigua and Barbuda currency. Additionally, the bank provides loan accounts to assist clients with purchases or investments by borrowing funds from the local financial institution.

Savings Accounts

CUB offers a variety of savings account options to cater to different financial needs and preferences. These include:

• Priority Savings Account
  • Minimum opening balance: $100
  • Interest rate: 2.00%
  • Charges if below minimum balance: $5
  • Third-party withdrawal fee: $15.00
• Prestige Savings Account
  • Minimum opening balance: $1,000
  • Interest rate: Minimum 2.5%, varies with the amount
  • Charges if below minimum balance: $10
  • Third-party withdrawal fee: $15.00
• Dollar-a-Day Savings Account
  • Minimum opening balance: $100
  • Interest rate: Minimum 2.25%, varies with the amount
  • No withdrawals allowed before 1-year maturity
  • No third-party withdrawals allowed
• Premium Savers Account
  • Minimum opening balance: $5,000
  • Interest rate: Minimum 2.75%, varies with the amount
  • No withdrawals allowed before 1-year maturity
  • No third-party withdrawals allowed

Checking/Current Accounts

Caribbean Union Bank provides various checking or current account options to facilitate everyday banking transactions and money management in the Eastern Caribbean dollar currency. These include:

• Priority Checking Account
  • Minimum opening balance: $1,000.00
  • Monthly balance deficiency fee: $10.00
  • Monthly service charge: $35.00
  • Charge per cheque cashed: $1.50
• Prestige Checking Account
  • Minimum opening balance: $5,000.00
  • Overdraft facility up to $5,000.00
  • Monthly service charge: $50.00
  • No charge per cheque cashed

The bank also offers a Corporate Checking Account tailored for business customers. Customers can apply for a checking account online, by contacting the bank, or by scheduling an appointment. To open an account, two valid government-issued IDs, a job letter, proof of address, and a minimum initial deposit of $1,000.00 are required.

Loan Accounts

Caribbean Union Bank offers a variety of loan products to suit personal needs, including mortgages, vehicle loans, land loans, and consumer loans. The bank's motto for loans is 'NEGOTIABLE', meaning they work with customers to create a loan plan that suits their unique circumstances. The loan approval process is efficient, with no excessive paperwork, and the security requests are reasonable.

Caribbean Union Bank in Antigua offers a variety of account options to meet the financial needs of both individuals and businesses. Whether you're saving for the future or managing daily transactions, the bank provides customized solutions to suit your requirements. If you want to know more about how to open a bank account in Antigua, check this out.