Mortgage Participation Fund
Download the The mortgage Participation Fund (MPF) PDF file – Click Here!
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.
|Type of Investment|
|The MPF is a Mutual Fund.|
|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 increase 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.|
|Minimum Investment $500|
|This is waived for investors who wish to make weekly/monthly investments. Investments can be made using cheques, “Post Dated” cheques, salary deductions or standing orders sent directly to our office, or linx; we do not accept cash.|
|100% backed by residential mortgages and/or mortgage backed securites,and the bank’s corporate guarantee.|
|Quarterly, semi annually, or annually.|
|Notice to Withdraw|
|Nil. Redemption cheques are prepared immediately upon request. Cheques are payable to the investor.|
- Any two (2) forms of identification (National Identification Card, Passport, Driver’s Permit),
- Details of current or past employment,
- Verification of address (utility bill etc.).
- 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.
Investors can nominate beneficiaries for the investment (Must provide a copy of beneficiary’s ID).