1. Monthly contributions should be deposited between the 1st and 5th day of each month.
2. A monthly reminder to make contributions should be sent out one week before the 1st 5th of each month.
3. Contributors can withdraw their entire savings at any point after the fund's lock-up period has expired.
4a. To withdraw an excess amount from their contributions, a participant must obtain the signatures of a minimum of two other members.
4b. It's important to note that for funds to be released, the combined balance of the member making the request and their member guarantor must be equal to or greater than the requested amount.
5. Members will lose access to overdraft privileges if they miss the contribution date twice or make a late repayment once. A third delayed contribution would lead to the discontinuation of membership.
6. Members who wish to withdraw their keep before the lock-up period will pay a 5% fee.
7. Funds upon approved withdrawal requests will be deposited to contributors linked account.
8. Members should fill out withdrawal forms within 24 hours before they wish to be credited. Under excruciating member are allowed a 2-hour minimum notice.
9. Following an initial lock up period, members can return to a lock up period to a maximum of 10 months within their first year of participation after which no withdrawal fee would be charged.
The Marsland Piggy Fund is not a professional money management service. We are a group of friends who have come together to support each other on our financial journeys by saving money together. We do not provide financial advice, and we recommend that you consult with a qualified financial advisor before making any savings decision.
The information on our website and in our materials is for educational purposes only and should not be construed as financial advice.
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