Guaranteed Certificate of Participation
A Guaranteed Certificate of Participation is an interest-bearing agreement between Capital & Credit Merchant Bank (CCMB) and the client, whereby CCMB agrees to sell to the client a participation of up to 95% of the balance in a loan. Investments are usually for a minimum of 30 days and a maximum of 180 days.
Who Can Benefit
- Individuals in Jamaica or abroad with a minimum investment of J$100,000 or US$10,000
What It Offers
- Attractive interest rates
- Guaranteed repayment of your principal investment, with interest
How It Works
- Funds are invested in loans guaranteed by the Bank
- Funds may be lodged for 30 days, 60 days, 90 days, 120 days or 180 days
- Once opened, a Guaranteed Certificate of Participation account cannot be increased
- At maturity, repayment may be made in any other currency, subject to exchange rate and currency availability
- Encashment before the agreed maturity date may result in a reduction of interest
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* Rates Updated: September 19, 2011
JAD
| Amount | 30 Days | 60 Days | 90 Days | 180 Days | 365 Days |
|---|---|---|---|---|---|
| 100,000 - 249,999 | 2.5% | 2.75% | 3% | * | * |
| 250,000 - 499,999 | 3.25% | 3.45% | 3.75% | * | * |
| 500,000 - 999,999 | 3.7% | 3.85% | 4.05% | * | * |
| 1,000,000 - 4,999,999 | 4.65% | 4.85% | 5.25% | * | * |
| 5,000,000 and above | 5.1% | 5.3% | 5.5% | * | * |
USD
| Amount | 30 Days | 60 Days | 90 Days | 180 Days | 365 Days |
|---|---|---|---|---|---|
| 10,000 - 24,999 | 1.4% | 1.65% | 1.8% | 2% | 2.25% |
| 25,000 - 49,999 | 1.6% | 1.8% | 2% | 2.3% | 2.5% |
| 50,000 - 99,999 | 1.8% | 2.15% | 2.4% | 2.5% | 2.65% |
| 100,000 - 249,999 | 1.9% | 2.25% | 2.5% | 2.55% | 2.75% |
| 250,000 - 499,999 | 2.15% | 2.4% | 2.65% | 3% | 3.15% |
| 500,000 and above | * | * | * | * | * |
