Among the benefits of opening a savings account with JN Cayman are
No charge for ATM transactions
Access to online banking
Online transfers to JN Bank Accounts
Interest accrued daily and paid quarterly
No limit on daily transactions
Competitive interest rates
The sooner you start making a financial plan, the more control that you’ll have over your money and future plans.
How much should I save?
Aim to save 3 months’ worth of expenses when starting an emergency fund and build from there.
Most families should strive to have 6–9 months of expenses saved for an emergency.
Tip: Keep your emergency funds in an easily accessible savings account, such as this one that is offered by JN Cayman.
Save for retirement
The sooner you start saving for retirement, the better it will be down the road. If you have an employer-sponsored retirement plan, be sure to contribute to it as early as you can. If you don’t have access to an employer-sponsored plan, you might consider opening an individual retirement account.
Create an emergency fund
Building solid financial habits is critical for long-term success and establishing an emergency fund is a necessary building block for financial stability.
Without emergency savings in place, an unexpected car repair, job loss or trip to the hospital could force you into debt and derail your goals
Pay down high interest debt
If you owe money on your credit cards, the wisest thing you can do is pay off the balance in full as quickly as possible. Unfortunately, debt can get in the way of your savings goals.
Pay a bit extra each month if you can. Every dollar over the minimum payment goes toward your balance - and the smaller your balance, the less you have to pay in interest.
Save for short-term goals
These goals fall roughly in a 1-to-5-year time frame.
Some short-term goal examples include buying a new car,
down payment on a home, paying down student loans,
travel/vacation or saving for a wedding.
A JN Cayman Partner Plan Account is a perfect tool to
help you save for your short-term goals.
Use our JN Cayman Saving Calculator to see
how much you need to save from each
paycheque to reach your goal!