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Fixed Deposit

Our Fixed Deposit account is a short-term investment solution that allows you to securely park your funds for time periods ranging from 6 to 11 months, 12 to 23 months, and 24 months and above. 

 

Whether you're planning for upcoming expenses or simply seeking to grow your wealth, this account offers flexibility, competitive interest rates, and financial security.

Key Features

1. Flexible Investment Periods: Choose from flexible investment periods starting at 6 months and extending beyond, giving you the freedom to align your investment with your specific financial goals and timeline.

 

2. No Monthly or Transactional Fees: Enjoy the benefits of this account without worrying about monthly maintenance or transaction fees, allowing you to maximise your returns.

 

3. Collateral for Credit: The fixed amount in your Fixed Deposit account can be used as collateral to access credit, providing you with financial flexibility and potential lending opportunities.

 

4. Guaranteed Interest Paid at Maturity: Rest easy knowing that your interest is guaranteed and will be paid in full upon maturity, allowing you to plan your finances with certainty.

 

5. Negotiable Interest Rate for Large Deposits: For deposit amounts exceeding 100 million, interest rates are negotiable. This flexibility ensures that you receive the most competitive rates in line with prevailing market conditions. Note that withholding tax (WHT) is chargeable on the interest earned.


6. Competitive Interest Rates: Earn an attractive annual interest rate of 9-11%, with the exact rate dependent on prevailing market rates. This ensures that your money grows significantly during the investment period.

Required Documentation & amount to open up

To open a Fixed Deposit Account, you will need the following:

 

  • Valid Identification Card

  • Passport-size Photo

 

A nominal opening fee of 60,000 is required to establish your account. This fee is broken down as follows:

 

  • Membership Fee: 20,000

  • Initial Share: 30,000

  • Initial Deposit: 10,000

 

Existing members with accounts can seamlessly open a Fixed Deposit account to diversify their investment portfolio without the need for additional documentation.

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