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The Gibraltar Savings Bank (GSB) was established in 1882. Its core functions come under the ambit of the Savings Bank Act. The GSB’s main objectives are both to promote savings and investment deposits and provide a service which, with the emphasis on the security of the funds. The GSB is a deposit taking institution and issues its own Debentures and Bonds and also operates Ordinary Savings Account.

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The GSB is regulated under the Gibraltar Savings Bank Act. The act can be found linked to our Home page, alternatively, it may be perused via the Government of Gibraltar, Laws of Gibraltar website -www.gibraltarlaws.gov.gi.

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• Proof of identification
• Proof of address
• Documentary evidence of the source of the funds being invested
• Bank statement or other documentary evidence of the account where the interest will be paid into
• For investments in the Children’s Bond Account, consent to the opening of the account from the parent or legal guardian is required, together with proof of the address
• Nomination Forms are also available to be completed by the investor.  This document facilitates the proceedings in the event of the investor passing away.  All nominees must be eighteen years or over.  All nominations are subject to the terms and conditions printed in the Nomination Form.

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• Cheques are accepted but must originate from the investor’s bank account and must be made payable to the Gibraltar Savings Bank. 
• Bank transfers are accepted when investing in Debentures. Bank transfers are not accepted into the Ordinary Deposit Account.
• Clients transferring their funds from their Ordinary Deposit Account will need to fill in the pertinent notice of withdrawal slip.
• Debit cards are also accepted, however, the funds must originate from the investor’s bank account

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The interest shall be paid out on the first working day of each month to the investor’s bank, building society or Ordinary Savings Account. Documentary evidence of the investor’s account will be requested. For the Children’s Bond Account, the interest will accrue from the actual date of investment. The interest, which will be calculated at the end of each month will be automatically re-invested on the first day of each month. The capital together with the accumulated interest, will be paid out on the child’s 18th birthday.

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• Monthly Income Registered Debentures
  Investors are able to withdraw from this debenture giving one month’s notice. Failure to do so will result in the loss of one month’s interest.
• 1-Year, 3-Year and 5-Year Fixed Term Monthly Income Registered Debentures
  No withdrawals will be permitted until the maturity date of the debenture except where a debenture-holder passes away, in which case, the beneficiaries may redeem (cash in) the debentures. As the debenture is a fixed-term investment, there is no right to cancel. No other redemptions are therefore permitted unless approved exceptionally by the Financial Secretary. Any redemption before maturity, other than on the demise of a debenture-holder, may be subject to a penalty by way of interest earned up to the full term that the debentures have been held.
• 10-Year Fixed Term Pensioner Monthly Debentures
  Investors are able to withdraw up to 25% of their capital, upon giving one month’s notice and without any interest penalty - please refer to the prospectus for specific terms and conditions. No further withdrawals will be permitted until the maturity date of the debenture unless approved exceptionally by the Financial Secretary and may be subject to a penalty by way of reduced interest up to the full term that the debentures have been held, except where a debenture holder passes away, in which case, the beneficiaries may redeem (cash in) the debentures.
  
• Children's Bond Account
  No withdrawals are permitted until the child reaches their 18th birthday.

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Children can have an under 7 years account held in the Ordinary Savings. Alternatively, Debentures can be purchased on behalf of a minor and once the child reaches the age of 18, transferred to his or her name.  Children can also have an account opened in their name (up to the age of 10 years) in the Children’s Bond Account. 

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• If the debenture is held in joint names, ownership will pass to the surviving debenture holder(s). Upon submission of the Death Certificate and completion of the Deed of Transfer, the name of the demised will be removed from the investment.
• On the debenture holder's demise, if the debenture is held by only one person, the capital invested will cease to accrue interest.  The capital invested will be paid out in accordance with the instructions of the Nomination Form, Letters of Administration, Will or Probate once the process is initiated by the Nominees or Estate.

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The repayment of all monies invested, together with interest, is guaranteed by the Government of Gibraltar under the Gibraltar Savings Bank Act.