A Target Savings account allows you to save in bits at regular intervals till you achieve your target goal or you decide to liquidate. The app will also automatically liquidate the savings once the set liquidation date has reached.
Below are the steps to liquidate your target savings accounts and get your funds in your Universal Savings account.
- Login to your V Bank App
- Slide left on Total Account Balance to see all your accounts or click on view all accounts
- Select the Target Savings account you want to liquidate and click on the 3 dots on the top right of your screen
- Select Partial liquidation to withdrawal part of the amount or Full liquidation for a total withdrawal
- Select the account you want to receive the funds
- Authorize with your 4-digit PIN
NOTE: Target Savings Liquidation before maturity date will attract a forfeiture of 40% of the interest already accrued.
