Rates and Fees
Take advantage of higher rates on your savings and deposit accounts than in a typical savings account one of the many benefits of being a Member of the “Better Society”.
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Foreign Exchange Rates
Effective date: October 25, 2021
Rates and all information above are subject to change without notice.
Pursuant to regulatory requirements, all VMBS accounts are subject to “Know Your Customer” requirements and VMBS will request personal data and other verification information prior to establishing your account. Rates and all information above are subject to change without notice. Conditions Apply.
Currency | Instrument | Buy | Sell |
---|---|---|---|
USD – American Dollar | Postal Order | 144.02 | 154.20 |
Cash | 139.00 | ||
Cheques | 139.00 | ||
GBP – British Pound | Postal Order | 144.02 | 154.20 |
Cash | 139.00 | ||
Cheques | 139.00 | ||
CAD – Canadian Dollar | Postal Order | 144.02 | 154.20 |
Cash | 139.00 | ||
Cheques | 139.00 |
Foreign Exchange Rates
The VM Building Society is an authorized foreign exchange dealer for the Bank of Jamaica, allowing convenient access to 16 locations island wide and representative offices in the United Kingdom, and the United States. We offer competitive rates on the three major locally traded currencies: US dollars, Pound Sterling, and Canadian dollars and provide fast and efficient processing of transactions.
Currency | Instrument | Buy | Sell |
---|---|---|---|
USD – American Dollar | Postal Order | 147.20 | 157.60 |
Cash | 142.10 | ||
Cheques | 152.10 | ||
GBP – British Pound | Postal Order | 184.28 | 200.30 |
Cash | 187.30 | ||
Cheques | 191.20 | ||
CAD – Canadian Dollar | Postal Order | 102.15 | 113.50 |
Cash | 103.80 | ||
Cheques | 107.00 |
- Notice
Rates and all information above are subject to change without notice.
Pursuant to regulatory requirements, all VMBS accounts are subject to “Know Your Customer” requirements and VMBS will request personal data and other verification information prior to establishing your account. Rates and all information above are subject to change without notice.
Conditions Apply.
Currency | Instrument | Buy | Sell |
---|---|---|---|
USD – American Dollar | Postal Order | 144.02 | 154.20 |
Cash | 139.00 | ||
Cheques | 139.00 | ||
GBP – British Pound | Postal Order | 144.02 | 154.20 |
Cash | 139.00 | ||
Cheques | 139.00 | ||
CAD – Canadian Dollar | Postal Order | 144.02 | 154.20 |
Cash | 139.00 | ||
Cheques | 139.00 |
Savings & Deposits Rates
Take advantage of higher rates on your savings and deposit accounts than in a typical savings account one of the many benefits of being a Member of the “Better Society”.
Savings/Deposit Accounts (JMD)
Junior Plan, Future Plan, Master Plan, VM Bridal Registry, Victoria Gift, VM Gift Certificates
JMD Amount | Account Rate |
---|---|
0-9,999 | 0.001% |
10k-49,999 | 0.005% |
50k-99,999 | 0.010% |
100k-249,999 | 0.015% |
250k-499,999 | 0.020% |
500k-749,999 | 0.025% |
750k-999,999 | 0.040% |
1M and Over | 0.075% |
JMD Amount | Account Rate (%) |
---|---|
1 – 9,999 | 0.02 |
10,000 – 49,999 | 0.02 |
50,000 – 99,999 | 0.03 |
100,000 – 249,999 | 0.03 |
250,000 – 499,999 | 0.05 |
500,000 – 749,999 | 0.05 |
750,000 – 999,999 | 0.08 |
1,000,000 & Over | 0.12 |
Victoria Premier Club (JMD)
*For Time Accounts subject to the account Terms and Conditions Premier Club holders may receive UP TO 1% above the rate normally paid.
JMD Amount | Account Rate (%) |
---|---|
1 – 9,999 | 0.10 |
10,000 – 49,999 | 0.15 |
50,000 – 99,999 | 0.15 |
100,000 – 249,999 | 0.30 |
250,000 – 499,999 | 0.30 |
500,000 – 749,999 | 0.40 |
750,000 – 999,999 | 0.40 |
1,000,000 & Over | 0.65 |
JMD Amount | Account Rate (%) |
---|---|
1 – 9,999 | 0.10 |
10,000 – 49,999 | 0.15 |
50,000 – 99,999 | 0.15 |
100,000 – 249,999 | 0.30 |
250,000 – 499,999 | 0.30 |
500,000 – 749,999 | 0.40 |
750,000 – 999,999 | 0.40 |
1,000,000 & Over | 0.65 |
Savings /Deposit Accounts (CAD)
‘A’ Accounts, Victoria Benefit, Victoria F/X Plus, VM Bridal Registry, Victoria Gift, VM Gift Certificates
CAD Amount | Account Rate (%) |
---|---|
0 – 499 | 0.002% |
500 – 999 | 0.005% |
1000 – 4,999 | 0.010% |
5,000 – 9,999 | 0.015% |
10,000 – 24,999 | 0.020% |
25,000 – 49,999 | 0.025% |
50,000 – 74,999 | 0.025% |
75,000 – 99,999 | 0.030% |
100,000 & over | 0.040% |
CAD Amount | Account Rate (%) |
---|---|
0 – 499 | 0.02 |
500 – 999 | 0.02 |
1000 – 4,999 | 0.03 |
5,000 – 9,999 | 0.03 |
10,000 – 24,999 | 0.03 |
25,000 – 49,999 | 0.03 |
50,000 – 74,999 | 0.03 |
75,000 – 99,999 | 0.03 |
100,000 & over | 0.03 |
Savings/Deposit Accounts (GBP)
‘A’ Accounts, Victoria Benefit, Victoria F/X Plus, VM Bridal Registry, Victoria Gift, VM Gift Certificates
GBP Amount | Account Rate |
---|---|
0- 499 | 0.002% |
500 – 4,999 | 0.005% |
5K – 9,999 | 0.010% |
10K – 49,999 | 0.015% |
50K -74,999 | 0.020% |
75K – 99,999 | 0.030% |
100K & Over | 0.040% |
CAD Amount | Account Rate (%) |
---|---|
0 – 499 | 0.02 |
500 – 4,999 | 0.02 |
5,000 – 9,999 | 0.03 |
10,000 – 49,999 | 0.03 |
50,000 – 74,999 | 0.04 |
75,000 – 99,999 | 0.04 |
100,000 & over | 0.04 |
Savings/Deposit Accounts (USD)
‘A’ Accounts, Victoria Benefit, Victoria F/X Plus, VM Bridal Registry, Victoria Gift, VM Gift Certificates
US Amount | Account Rate |
---|---|
0-499 | 0.002% |
500-999 | 0.005% |
1K – 4,999 | 0.010% |
5K – 9,999 | 0.015% |
10K – 24,999 | 0.020% |
25K – 49,999 | 0.025% |
50K – 74,999 | 0.025% |
75K – 99,999 | 0.030% |
100K & Over | 0.040% |
CAD Amount | Account Rate (%) |
---|---|
0 – 499 | 0.01 |
500 – 999 | 0.01 |
1,000 – 4,999 | 0.02 |
5,000 – 9,999 | 0.02 |
10,000 – 24,999 | 0.02 |
25,000 – 49,999 | 0.03 |
50,000 – 74,999 | 0.03 |
75,000 – 99,999 | 0.03 |
100,000 & over | 0.03 |
- Notice
Pursuant to regulatory requirements, all VMBS accounts are subject to “Know Your Customer” requirements and VMBS will request personal data and other verification information prior to establishing your account. Rates and all information above are subject to change without notice.
Conditions Apply.
Notice
Pursuant to regulatory requirements, all VMBS accounts are subject to “Know Your Customer” requirements and VMBS will request personal data and other verification information prior to establishing your account. Rates and all information above are subject to change without notice.
Conditions Apply.
Term Deposit Rates
Take advantage of higher rates on your savings and deposit accounts than in a typical savings account one of the many benefits of being a Member of the “Better Society”.
VM iGain Certificate of Deposit (JMD)
AMOUNT | 30 DAYS | 90 DAYS | 180 DAYS | 365 DAYS |
---|---|---|---|---|
10,000 – 49,999 | 0.25% | 0.35% | 0.45% | 0.55% |
50K – 249,999 | 0.30% | 0.40% | 0.50% | 0.60% |
250K – 499,999 | 0.40% | 0.50% | 0.60% | 0.70% |
500K – 999,999 | 0.50% | 0.60% | 0.70% | 0.85% |
1M – 4,999,999 | 0.70% | 0.80% | 0.95% | 1.15% |
5M – 9,999,999 | 0.80% | 0.90% | 1.05% | 1.25% |
10M – 19,999,999 | 1.05% | 1.20% | 1.35% | 1.60% |
20M and Over | 1.20% | 1.30% | 1.60% | 2.00% |
Amount | 30 days | 90 days | 180 days | 365 days |
---|---|---|---|---|
10,000 – 49,999 | 0.65% | 0.70% | 0.75% | 0.85% |
50K – 249,999 | 0.70% | 0.75% | 0.80% | 0.90% |
250K – 499,999 | 0.80% | 0.90% | 1.00% | 1.10% |
500K – 999,999 | 0.90% | 0.95% | 1.05% | 1.20% |
1M – 4,999,999 | 1.15% | 1.25% | 1.40% | 1.60% |
5M – 9,999,999 | 1.25% | 1.35% | 1.50% | 1.75% |
10M – 19,999,999 | 1.45% | 1.55% | 1.75% | 2.05% |
20M and Over | 1.65% | 1.80% | 2.25% | 2.70% |
VM iGain Certificate of Deposit (US)
AMOUNT | 30 DAYS | 90 DAYS | 180 DAYS | 365 DAYS |
---|---|---|---|---|
1k – 19,999 | 0.03% | 0.08% | 0.15% | 0.25% |
20K – 49,999 | 0.10% | 0.15% | 0.20% | 0.35% |
50K – 99,999 | 0.15% | 0.20% | 0.30% | 0.45% |
100K & Over | 0.25% | 0.35% | 0.50% | 0.70% |
Amount | 30 days | 90 days | 180 days | 365 days |
---|---|---|---|---|
1k – 19,999 | 0.03% | 0.08% | 0.15% | 0.25% |
20K – 49,999 | 0.10% | 0.15% | 0.20% | 0.35% |
50K – 99,999 | 0.15% | 0.20% | 0.30% | 0.45% |
100K & Over | 0.25% | 0.35% | 0.50% | 0.70% |
VM iGain Certificate of Deposit (CAD)
3 | 30 DAYS | 90 DAYS | 180 DAYS | 365 DAYS |
---|---|---|---|---|
1k – 24,999 | 0.05% | 0.10% | 0.15% | 0.25% |
25K & over | 0.15% | 0.25% | 0.35% | 0.50% |
Amount | 30 days | 90 days | 180 days | 365 days |
---|---|---|---|---|
1k – 24,999 | 0.05% | 0.10% | 0.15% | 0.25% |
25K & over | 0.15% | 0.25% | 0.35% | 0.50% |
VM iGain Certificate of Deposit (GBP)
AMOUNT | 30 DAYS | 90 DAYS | 180 DAYS | 365 DAYS |
---|---|---|---|---|
1k – 24,999 | 0.05% | 0.10% | 0.15% | 0.25% |
25K & over | 0.10% | 0.15% | 0.25% | 0.40% |
Amount | 30 days | 90 days | 180 days | 365 days |
---|---|---|---|---|
1k – 24,999 | 0.05% | 0.10% | 0.15% | 0.25% |
25K & over | 0.10% | 0.15% | 0.25% | 0.40% |
VM iSave Account (JMD)
AMOUNT | |
---|---|
1K – 2,999 | 2.00% |
3k – 9,999 | 2.50% |
10k-99,999 | 3.00% |
> = 100k | 4.00% |
Amount | |
---|---|
1K – 2,999 | 1.50% |
3k – 9,999 | 1.90% |
10k-99,999 | 2.25% |
> = 100k | 2.70% |
VM iSave Account (US)
AMOUNT | |
---|---|
50-149 | 0.45% |
150-1500 | 0.70% |
Amount | |
---|---|
50-149 | 0.45% |
150-1500 | 0.70% |
VM iSave Account (CAD)
AMOUNT | |
---|---|
50-149 | 0.15% |
150-1500 | 0.35% |
Amount | |
---|---|
50 – 149 | 0.15% |
150 -1,500 | 0.35% |
VM iSave Account (GBP)
AMOUNT | |
---|---|
20 -99 | 0.15% |
100 – 1,000 | 0.25% |
Amount | |
---|---|
20 -99 | 0.15% |
100 – 1,000 | 0.25% |
- Notice
Pursuant to regulatory requirements, all VMBS accounts are subject to “Know Your Customer” requirements and VMBS will request personal data and other verification information prior to establishing your account. Rates and all information above are subject to change without notice.
Conditions Apply.
Notice
Pursuant to regulatory requirements, all VMBS accounts are subject to “Know Your Customer” requirements and VMBS will request personal data and other verification information prior to establishing your account. Rates and all information above are subject to change without notice. Conditions Apply.
Mortgage Rates
VM iGain Certificate of Deposit (GBP)
NAME OF PRODUCT | RATE OF INTEREST | PROCESSING FEES |
---|---|---|
First Time Home Buyer | 10.75% | As per fee guide |
iSave4Home Mortgage | 10.45% | 1.95% plus GCT |
Mortgage Plus (Non-FTHB purchasing a property to reside) | 10.95% | As per fee guide |
Vacant Lot | 11% | As per fee guide |
Investor Plus (purchasing property for investment purposes) | 11.50% | As per fee guide |
Residential Construction (Rate of 11.50% applies during construction. Once property is practically complete, rate will revert to 10.75%. In the event this is the first home for mortgagors, then the FTHB rate may be applied upon completion) | 11.50% | As per fee guide |
Home Improvement Loan | 10.95% | As per fee guide |
Home Equity Loan (Debt Consolidation) | 11.75% | As per fee guide |
100% Financing for Specialized Groups | 11% | As per fee guide |
Foreign Currency Mortgages (LTV of 75% or less – 6.00%, greater than 75% – 8.00%) | 6.00% to 8.00% | As per fee guide |
Commercial Loans | 13.50 – 15.00% | As per fee guide |
Category | Owner Occupied Rate % | Non- Owner Occupied Rate % |
---|---|---|
Residential Mortgage – Special Savers | 8.50 | 8.50 |
Residential Mortgage | 8.50 | 8.50 |
Home Improvement | 8.50 | 8.50 |
Residential Construction Loans | 8.50 | 8.50 |
Residential Loans – Land | – | 8.50 |
Home Equity Loan** | 8.50 | – |
Foreign Currency Mortgage Loan- CAN $ | 4.25 – 5.00 | 4.25 – 5.00 |
Foreign Currency Mortgage Loan- GBP £ | 4.25 – 5.00 | 4.25 – 5.00 |
Foreign Currency Mortgage Loan- US $ | 4.25 – 5.00 | 4.25 – 5.00 |
Commercial Loan | – | 14 |
- Notice
*** Please note that all fees attract General Consumption Tax
Where a mortgage applicant is willing and able to place a minimum of $2M or more on a time account, for a minimum of 1 year, you may refer to the AVP – Lending & Business Solutions for a negotiated rate on both the deposit and mortgage. Please note that these funds are to be deposited at the time the facility is being submitted to MLC for processing. This is an opportunity to exceed your individual NSI target. This may also be extended to auto loan applicants.
Conditions Apply.
Notice
Pursuant to regulatory requirements, all VMBS accounts are subject to “Know Your Customer” requirements and VMBS will request personal data and other verification information prior to establishing your account. Rates and all information above are subject to change without notice.
Conditions Apply.
Other Loan Rates
VM iGain Certificate of Deposit (GBP)
NAME OF PRODUCT | RATE OF INTEREST | PROCESSING FEES |
---|---|---|
Unsecured Loan (Applicable sum – Minimum of $500K up to a maximum of $5M) | 17% | 3% plus GCT |
ATL Package (including ATL Autobahn and all associated campaigns unless otherwise advised) | 10.95% – excellent credit score 11.25% – all other qualified borrowers | 1.50% plus GCT |
New Vehicle | 11.50% | 2% plus GCT |
Pre-Owned Vehicle | 11.95% | 2% plus GCT |
Commercial Auto Loans | 12.50% | 2.5% plus GCT |
Category | Owner Occupied Rate % | Non- Owner Occupied Rate % |
---|---|---|
Residential Mortgage – Special Savers | 8.50 | 8.50 |
Residential Mortgage | 8.50 | 8.50 |
Home Improvement | 8.50 | 8.50 |
Residential Construction Loans | 8.50 | 8.50 |
Residential Loans – Land | – | 8.50 |
Home Equity Loan** | 8.50 | – |
Foreign Currency Mortgage Loan- CAN $ | 4.25 – 5.00 | 4.25 – 5.00 |
Foreign Currency Mortgage Loan- GBP £ | 4.25 – 5.00 | 4.25 – 5.00 |
Foreign Currency Mortgage Loan- US $ | 4.25 – 5.00 | 4.25 – 5.00 |
Commercial Loan | – | 14 |
- Notice
*** Please note that all fees attract General Consumption Tax
Where a mortgage applicant is willing and able to place a minimum of $2M or more on a time account, for a minimum of 1 year, you may refer to the AVP – Lending & Business Solutions for a negotiated rate on both the deposit and mortgage. Please note that these funds are to be deposited at the time the facility is being submitted to MLC for processing. This is an opportunity to exceed your individual NSI target. This may also be extended to auto loan applicants.
Conditions Apply.
Notice
Pursuant to regulatory requirements, all VMBS accounts are subject to “Know Your Customer” requirements and VMBS will request personal data and other verification information prior to establishing your account. Rates and all information above are subject to change without notice.
Conditions Apply.
Schedule of Fees & Charges (Effective May 30, 2023)
Read/Download Current Service Charges (PDF)
Schedule of Fees & Charges (Effective February 1, 2024)
Read/Download Service Charges (PDF)
Schedule of Fees & Charges (Effective September 19, 2024)
Read/Download Upcoming Service Charges (PDF)