Please review the terms and conditions (below) before selecting one of the following options:
Upon submission, our processing team will get in touch with you to confirm the placement.
Make an Appointment
Book an appointment with us for walk-in application at POLWEL office.
*Terms and Conditions
- Only POLWEL Ordinary Members (PCWF Ordinary Members) and Associate Members (Retired Police Officers and VSC Officers) are eligible to participate in this Fixed Deposit (FD) promotion.
- To qualify for this promotion, a minimum of $10,000 must be deposited as Fresh Funds during the promotional period. Fresh Funds refers to funds that are not withdrawn and re-deposited within the last 30 days.
- For members who have made any withdrawal(s) within the last 30 days / whose FDs have matured (rolling on Board Rates) or are maturing during the promotion period, a top-up of an equivalent or higher amount is required to enjoy renewal at the promotional interest rate.
- Each member is entitled to a maximum of three placements (totalling $100,000) at the promotional interest rate.
- The promotional interest rate is only applicable if the FD is held to maturity of the tenor. The interest awarded at the promotional rate will be forfeited if any withdrawal is made prior to the maturity of the tenor.
- A FD account will be terminated upon the cessation of membership (e.g resignation), regardless that it has not reached maturity. The funds will be credited to the bank account stated in the application form. No interest will be payable if the FD account is closed within the first 6 months of placement. The applicable interest after 6 months will be based on POLWEL’s prevailing board rates. For the avoidance of doubt, this is only applicable to cessation of membership.
- Placements will only be accepted via Internet Banking (preferred option) and Cheque / Cashier’s Order made payable to POLWEL Co-operative Society Limited.
- This FD promotion may end earlier at the absolute discretion of POLWEL.
- All other Terms & Conditions governing the placement of FD(s) with POLWEL will apply.