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The National Bank of Anguilla Ltd
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Corporate Banking
Deposits
Savings
Our Pass Book Savings offers customers the opportunity to save for the
future at rates of interest from 4% to 5%, which are added on the account
quarterly.
Term
Deposits
Term Deposits at the National Bank of Anguilla pay very competitive rates
of interest ranging from 4.5% to 6.75% with the rate determined by the
size and term.
Rates paid on very large deposits for short periods are negotiable and
are usually determined by the rate of interest the bank can obtain in
the international market for like size deposits and terms.
Demand
Deposits
The bank provides demand deposits (checking) accounts to eligible customers
and pays interest on balances, which exceeds EC$3,000 or US$1,100. Service
charges and per item charges are considered low and overdrawing facilities
can be requested. Overdrawing, if permitted without signed agreement,
carries special interest and service charges.
Loans and Overdrafts
Loans
Loans are granted to new and old businesses to assist them in financing
the following.
- Inventory
purchases
- New
products
- Furnishings
- Equipment
- Vehicles
- Expansion
of premises
- Construction
of new premises
Business
proposals are required for all requests for financing.
General information expected to be contained in business plans are:
- Request
- History
of insurance
- Market
information
- Competition
- Suppliers
and businesses
- Management
details
- Key
personnel
- Historic
financial statements
- Personnel
financial statements
- A
pro forma balance sheet
- A
pro forma income statement
- Cash
flow analysis
- A
cash budget
Security
required for business loans may include guarantees, inventories, bills
of sale, land, buildings,
or debentures among other things.
Terms on business loans range from one to ten years and rates from 10%
to 13% based on size and special relevant circumstances.
Overdrafts
Overdraft facilities to meet working capital and bridging needs are available
to desiring and qualifying businesses.
The request for such facilities should take the same form as for a business
loan above.
Business
overdrafts are usually granted for no more than two years and are related
to the particular needs of the business.
Rates of interest are the same as for business loans.
If an account with overdraft privileges is permitted to exceed the agreed
limit, the interest and service charges assessed may be different from
those for approved overdrawing.
Foreign Services
National Bank has positioned itself to be able to bring to its patrons
the means to execute international transactions in an efficient and speedy
manner.
Our foreign services include the following:
- Purchase
and sale of foreign currencies;
- Acceptance
of non-domestic checks, drafts and money orders;
- International
transfers to and from any part of the world;
- Sale
of international drafts;
- Sale
of American Express travelers checks;
- Granting
of Visa and MasterCards cards;
- Recommendation
of American Express Cards
- Documentary
and clean collection; and
- Letters
of credit.
Investment
Services
Investments can be made in financial instruments worldwide through the
Bank's association with the Tom Morgan Group of Smith Barney.
Other Services
Night Deposit Rental (per annum) EC$90.00
Reference Letters
EC$15.00
Special Statements EC$15.00
Standing Orders EC$5.00
Stop Payments EC$10.00
Safekeeping - charges relevant to Box size.
Ranging from EC$125.00 to EC$300.00 annuall
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