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Fixed Deposit

A Fixed Deposit is an investment account where money is deposited for a fixed period and the interest rate does not change. A Fixed Deposit offers interest rates higher than ordinary savings accounts and is ideal if you want to save for a specific goal – like the deposit for a wedding or a year-end holiday.

What does it offer me?

  • Interest may be paid into another account
  • You can choose the date on which you want your investment to mature
  • The funds in your account can be pledged and used as collateral
  • There are no service fees charged
  • You can choose an investment term from 1 to 12 months
  • You can have more than one Fixed Deposit if you want to save for different goals
  • You cannot withdraw funds from your Fixed Deposit account during the period of your investment.  Early termination attracts a fee.

 

What do I need to apply?

  • Be over the age of 18
  • Minimum investment of at least K1,000.00.


Visit your nearest branch with the following documents and fill in an application form:

  • Copy of your identity document (NRC or passport)
  • Two passport-size photographs
  • Proof of address - utility bill less than 3 months old.

 


 
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