– WEALTH –
Flexible Access with Guaranteed Growth
Elite Save is designed for individuals who wish to save a lumpsum amount and have the option to add an additional monthly savings amount. The miminum lump sum investment amount is N$50,000.00 and the minimum optional monthly savings amount is N$2,500.00. The Elite Save further provides access to capital on a 7-day notice period without any penalties. Interest on the Elite Save is a guaranteed 8.5 % per annum for the duration of the initial term.
Building Financial Security
A strong savings foundation ensures long-term stability, helping you prepare for unexpected expenses and future financial goals.
Maximising Growth with Guaranteed Interest
With a fixed annual interest rate of up to 14.72%, your savings grow steadily over time through the power of compound interest.
Flexible Savings to Fit Your Need
Start saving with as little as N$250 per month and increase your contributions whenever you’re ready to boost your financial future.
Easy Access with Structured Withdrawals
Plan your financial journey with a 90-day notice period for withdrawals, ensuring disciplined savings while keeping your funds accessible.
Elite Save is designed for individuals who want the perfect balance of security and accessibility. With a guaranteed interest rate of 8.5 percent per annum and the flexibility to withdraw funds with just 7 days’ notice, this savings plan offers both stability and convenience.
Whether you choose a lump sum investment or add monthly contributions, Elite Save helps your money grow with the power of compound interest. Take advantage of a secure, high-yield savings solution that works on your terms.
Product Name: Elite Save
Issue Date: April 2021
Guaranteed Interest Rate: 8.5%
Minimum Lumpsum Investment: N$50,000.00
Minimum monthly savings amount (optional): N$2,500.00
Term: 12, 24, 36, 48, 60 months
Notice Period: 7 Days
General
This document should be read in conjunction with the Elite Save Policy Contract.
Elite Save is designed for individuals who wish to save a lumpsum amount and have the option to add an additional monthly savings amount. The miminum lumpsum investment amount is N$50,000.00 and the minimum optional monthly savings amount is N$2,500.00. Elite Save further provides access to capital on a 7-day notice period without any penalties.
Interest
Interest on Elite Save is a guaranteed 8.5% per annum for the duration of the initial term. Interest shall be calculated on a daily basis and capitalized monthly. This allows the policyholder to enjoy the benefits of compound interest maximizing capital growth. Interest shall be calculated from the day that the funds reflect in the insurer’s bank account.
Interest will be paid as indicated on the Elite Save Application Form, either monthly, quarterly, annually or on maturity date of the savings term.
Redemption of Capital
The capital paid into Elite Save as a lumpsum, together with all additional monthly savings amounts are guaranteed for the duration of the policy. The redemption of capital will be effected on maturity date. as indicated on the Elite Save Application Form, either 12, 24, 36, 48 or 60 months.
However, should the policy holder wish to withdraw and amount or terminate the policy prior to the maturity date, 7-days written notice must be given by the policyholder to the insurer of such intention.
The redemption payment will be made in Namibian Dollars on the redemption date by electronic transfer into the account of the policyholder. It is the responsibility of the policyholder to ensure their account details remain current at the insurer.