Goal Account features

General Features

• Goal Account is a feature in the Liv app that allows retail customers to set aside funds that will earn interest.
• To use all functions of Goal Account, one must log into the Liv app since that is the sole channel for financial services by Liv
• When customer puts money into their Goal Account, money gets deducted from the Primary Account that the customer holds with Liv
• Transfer happens immediately.
• Funds can be transferred back to the Primary Account at any time
• Any funds deposited in a goal account Goal Account are held by Liv
• There are no minimum balance criteria on the Goal Account.
• Goal Accounts can only transact to and from the Primary Account.
• Transfers, Bill Payments, POS transactions are all features that are not available on Goal Accounts.
• The Goal Account will be subject to these special features and the Bank’s terms and conditions

Interest and fees

• All information for interest and calculation method of interest is available on the Goal Account Key Facts Statement.
• Up-to-date interest rates are always shown in the Interest Rate Schedule on the Liv app.
• Liv does not charge you any fees to use Goal Accounts

Account Statement

• Customer can download a free statement of account at any time via the Liv app
• Each Goal Account is a separate savings account and will have a separate account statement

Goal Account Closure

• A goal account can be closed at any time. There are no early closure charges for Goal Accounts.
• If a Goal Account is closed, the funds from the Goal Account get transferred to the Primary Account.

Goal Account rules set-up

Please find Goal Account rules on https://liv.me/en/help-center/Articles/2021/03/goal-account