Product Features

• Minimum amount to be fixed is UShs 300,000; maximum is open.
• No regular fees or charges.
• Cash withdrawal can be personally made to the account by the holder before maturity.
• No ATM issued.
• No regular account statements issued.

Benefits

• Account earns interest at a rate higher than that applied on savings account.
• Option to select interest payment starting with “monthly’’ is now possible.
• Cash from the account can be withdrawn at any time on notice.
• Account can be pledged as cash collateral for loans.
• Renewable on maturity of 3,6,12, and 24 months, which earns further interest.
• Interest rates payable to account holders are negotiable.
• Tiered interest rate, which favours larger depositors.
• SMS alerts for transactions.
• Accrued interest paid monthly.
• Flexible withdrawals, i.e., customers can terminate contracts and still earn interest as long as 80% of the contract period has been met.