Banner
National Bank Starts Accepting Deposits on 1st Anniversary Print E-mail
( 0 Votes )
Written by Administrator   
Thursday, 04 September 2014 00:00

The National Bank of Belize opened its doors on September 2 of 2013 with $20 million in start up capital from the Government of Belize. $10 million was earmarked for teachers and public officers and $10 million for other middle income Belizeans. On Tuesday, September 2, the bank celebrated its first anniversary and is holding raffles and other promotions for customers throughout the week.

The biggest news on the first anniversary is  that the bank is now accepting deposits. Janette Arnold, Deputy General Manager of the National Bank, says Belizeans can now open a savings account with just $25. Savings accounts can be opened for children with just $10. She encourages all Belizeans to open an account with the bank as it continues to expand its portfolio and services.

A Belize City branch is expected to be constructed in the Lake Independence Boulevard area very soon and other branches countrywide will follow. Over the next 18 months, clients of the National Bank will benefit from the roll out of an Automated Teller Machine system with two ATMs at the Belmopan branch. Clients will be able to use their ATM cards at the Belmopan branch or any Heritage Bank ATM countrywide. According to Senator Joy Grant, Chairman of the Bank’s Board of Directors, the cards will also be usable at over 25 credit unions across the country.

The Bank’s lending rates continue to drive commercial rates down as its mortgage rates range from 5.5 to 7.5 percent; its vehicle loan rate is 8.5 percent and its business development loan rate is 9 to 10 percent. In just one year, the demand for affordable financing has proved to be so great that the Government of Belize has already committed to inject additional capital in the Bank.