A Fixed deposit is an investment account where money is deposited for a fixed period of time and the interest does not fluctuate. 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.

You choose how long you want to invest – from six months to one year.

Features and benefits

• You must make a minimum investment of at least M1000

• You can choose the date on which you would like your investment to mature
• The funds in your account can be pledged and used as collateral
• There are no service fees charged for a Fixed deposit
• Several investment period options are available – from 6,9 and 12 months
• You can choose to 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 penalty

Who can apply

If you’re over the age of 18 and serious about saving for a specific goal, a Fixed deposit account is for you!

How to apply

Opening a Fixed deposit account is easy! Just visit your nearest Standard Lesotho Bank branch with the following documents and our friendly customer consultant will assist you: