Mortgage Participation Fund
A Short-term Variable Rate Investment Programme
About the Loan
The Mortgage Participation Fund (MPF) is a short-term variable rate investment programme that provides investors with high returns, safety of capital and full access to their funds.
Benefits
- High Returns
- Safety of Capital
- Full access to funds
Specifications
Product Details
Type of Investment
Mutual Fund
Net Asset Value (NAV)
The MPF has a fixed NAV. Price is fixed at $1.00 per unit.
Joint Account
Permissible
Interest Rate
Variable. The rate is set at the beginning of each month. Please contact Home Mortgage Bank for the current rate. Effective September, 2016 the MPF Annualize Rate has increased from: 1.35% p.a. to 1.50% p.a.
Interest Rate Basis
Interest rate is accrued daily and paid monthly.
Interest Payment Options
a. Reinvested monthly, or
b. Interest credited electronically to your bank account monthly.
Statements
Quarterly, Semi-Annually, or Annually.
Security
100% backed by residential mortgages and/or mortgage-backed securities, and the bank’s corporate guarantee.
Minimum Investment
$500
Payment Options
Electronic Banking (LINX), Cheques, Salary Deductions, Standing Orders
Notice to Withdraw
Nil. Redemption cheques are prepared immediately upon request. Cheques are payable to the investor.
Charges
Nil.
Required Documents
Requirements for Individuals
- Any 2 forms of Identification (Valid National Identification Card, Passport, Driver’s Permit)
- Proof of Address (Utility Bill etc.)
- Proof of Income (Job Letter or Salary Slip)
- Source of Funds
Requirements for Companies
- Copy of the Certificate of Incorporation
- Copy of the latest Annual Return of the Company
- A letter from the Company stating the signatories to the account and their signing limits
