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CFAL info@cfal.com +1 (242) 502-7010 Website related description
The Bahamas P.O.Box CB-12407 Nassau New Providence The Bahamas The Bahamas

Holiday Savings Challenge

HOW TO SAVE OVER $1,200 BY CHRISTMAS
WITH THE CFAL HOLIDAY SAVINGS CHALLENGE

 

SAVE AND MANAGE YOUR HOLIDAY SPENDING

Tired of struggling to find the money for holiday shopping or using a credit card with high interest rates to cover unforeseen end-of-year expenses? Join the CFAL Holiday Savings Challenge to save for holiday spending and plan for a great Christmas!

By making monthly contributions to your CFAL Holiday Savings account from January to December, you will save over $1,200 and earn 2.75% - 3.00% interest on your money. When the holiday season arrives, you will have more control over your money and much less financial stress.

Here is another great reason to sign up today - if you consistently deposit the amounts budgeted for each month, you will be automatically entered into our $1,000 “Christmas bonus” giveaway!

Start saving NOW by reviewing the challenge details below. Next, complete the application form found on this page and follow the instructions provided.

Once your application has been processed, you will be able to track your savings online using our online financial management portal. Saving for Christmas has never been so easy!

FAQs

A: No. The challenge requires weekly contributions of $25.00, or monthly contributions of $100.00 for a 4-week month or $125.00 for a 5-week month period (see flyer for schedule). If you are interested in an option other than the challenge, speak to one of our representatives about other investment options such as the CFAL Savings Express Plan or the CFAL Family of Funds.
A: We do not accept cash contributions. You must make your deposits by online transfer.
A: You will need your passport, NIB card, driver's license, and a current proof of address (e.g., A recent utility bill, bank statement, or voter’s card).
A: The program begins on January 4, 2022. The deadline to submit the application form is January 21, 2022. All initial payments must be made by January 21, 2022, and thereafter on Mondays or by the 20 th of each month.
A: If you miss one or more payments, you will only receive credit for the money that you have contributed to the program. You will not be eligible to enter the $1,000.00 Christmas bonus drawing on December 12, 2022.
A: If you no longer wish to participate in the Holiday Savings Challenge, the funds that you have deposited will remain in the program until December 9, 2022. On this date, you will receive only the money that you have contributed, plus the interest earned.
A: You will be required to make your contributions monthly ($100/$125) by the 20th of each month or weekly ($25 every Monday).
A: There is no rollover option. You will receive your pay out on December 9, 2022.
A: Please contact us at 502-7010 or email us at savingschallenge@cfal.com with any questions. We will be happy to help you.