Product Name
Fixed Account
Product Category
Contract account
Product Description
Contract account that encourages customers to invest a fixed sum of money for a fixed period of time.
Product Objective
Boosting liquidity through deposits
To raise interest income through investments of customers Funds.
Interest Rate
1 Month 7.00%
2 Months 6.00%
3 Months 5.00%
6 Months Negotiable
9 Months Negotiable
12 Months Negotiable
Minimum deposit: K50,000
Target Market: General Public
Other services:
Access to 70% of deposit balance as a deposit backed loan, funds transfer facility available after maturity
Account opening requirements:
Individuals: A valid National ID, passport or valid driving license, pay slip or income statement from another Bank, Utility bill, and letter from agriculture Extension services, chief or DC.
Farmer Clubs and Groups; Farmer Club registration certificate and ID documents for officer bearers – National IDs, passports or driving license for signatories.
Utility bills, and letter from off takers, chiefs, DC etc
Corporates: Certificate of incorporation, Memorandum and articles of association, Board resolution to open an account, ID documents – National ID, passports or driving license for signatories.
Utility bill, certificate for the premises where the business is transacted and business location map