IN today’s challenging economy we should all be encouraged to put away something for a rainy day and save towards our future goals. The question is “Have you created a plan to help you achieve those goals?” If you’re among those who may want to provide the best educational opportunities for your children, receive additional income to supplement your salary, live comfortably in retirement or take a dream vacation, planning is essential. Saving for the future is definitely a long-term project and with the right financial tool it is never too late to start saving and investing.

We can help you achieve your financial goals with a CIBC FirstCaribbean Tax Reward Account.

As a result of declining interest rates, investors now have to look at investments that maximise the interest they receive. Interest income on a regular deposit account is taxed at source at 25 pere cent. Tax Reward Account eliminates the tax element on savings and allows the investor to earn the maximum interest rate on their investment. It is tax-free provided that the principal is not withdrawn for a period of five years.

The CIBC FirstCaribbean Tax Reward Account is a Jamaican dollar five-year investment account that is ideal for meeting your medium- to long-term wealth creation objectives. Investors can invest up to J$1 million per annum. The Tax Reward Account offers an attractive and a more competitive interest rate than the average fixed deposit. We can also pay 75 per cent of the interest accrued periodically to assist with your cash flow and meet day-to-day expenses, or you have the flexibility of compounding the interest. CIBC FirstCaribbean can get you started with just a minimum of J$100,000 and arrange standing orders of increments of $100,000 to reach the maximum of $1,000,000 per annum.

Visit any branch of CIBC FirstCaribbean today and speak to one of our knowledgeable wealth managers to learn more.