Who is it for?
The Fixed Deposit Account is for Individuals as well as Corporate Entities who have idle funds that can be invested in order to yield higher returns. Do you wish to earn highest interests on your savings? Do you want to save towards future projects? Do you want to know in advance how much your money could earn in 3 months – 1 year?
If Yes, NOW is the time to open a Fixed Deposit Account and enjoy Flexibility, Security and High Returns.
What you'll need:
- Application letter stating intention, tenure and amount to invest
- Must be an account holder of the bank
- National ID/Passport/Driver’s License/Voter’s ID
Features and benefits:
- Premature disinvestment attracts 10% penalty on the accrued interest
- Possibility of Roll Over of principal amount and interest upon maturity
- Choose the tenure that best suits your needs; 90 days, 180 days or 365 days
- On Maturity, 15% withholding Tax on Accrued Interest is levied and paid to NRA
- Get certificate of Fixed Deposit and use it as Collateral against Credit Facilities
- Minimum investment amount is Le50M