MPF is an open ended mutual fund that provides its unit holders with the highly sought after combination of competitive returns, ease of access to funds, and safety of capital guaranteed by HMB.
Mutual Fund
The MPF has a fixed NAV. Price is fixed at $1.00 per unit.
Permissible
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 is accrued daily and paid monthly.
a. Reinvested monthly, or
b. Interest credited electronically to your bank account monthly.
Quarterly, Semi-Annually, or Annually.
100% backed by residential mortgages and/or mortgage-backed securities, and the bank’s corporate guarantee.
$500
Electronic Banking (LINX), Cheques, Salary Deductions, Standing Orders
Nil. Redemption cheques are prepared immediately upon request. Cheques are payable to the investor.
Nil.
Individuals:
Any 2 forms of Identification (Valid National ID Card, Passport, Drivers Permit)
Proof of Address (Utility Bills etc.)
Proof of Income (Job Letter or Salary Slip)
Source of Funds
Companies:
Copy of the Certificate of Incorporation
Copy of the latest Return of the Company
A letter from the Company stating the signatories to the account and their signing limits