A fixed deposit is an investment account where money is deposited for a fixed period at a fixed interest rate. A fixed deposit offers interest rates higher than ordinary savings accounts and is ideal if you want to save for a specific goal. You choose how long you want to invest – from six months to one year.
What does it offer me?
- You can choose when you would like your investment to mature
- The interest rate is fixed for the full investment period
- No transactions are allowed
- Interest is normally paid at maturity.
What do I need to apply?
- Be over the age of 18
- Minimum account opening deposit of M1 000.00.
Visit your nearest branch with valid Identity Document to fill in an application form.