A Fixed Deposit is an investment account where money is deposited for a fixed period and the interest rate does not change. A Fixed Deposit offers higher interest rates than ordinary savings accounts and is ideal if you want to save for a specific goal, like a wedding or a holiday.
What does it offer you:
- You can choose an investment period.
- There are no service fees charged.
- Several investment period options are available – from three to 24 months.
- You can have more than one fixed deposit if you want to save for different goals.
- You cannot withdraw funds from your fixed deposit during the term of your investment.
- If you end your investment early, you will need to pay a penalty.
What you need to apply:
- You must make a minimum investment of at least GHS500.00.
- Be over 18 years.
Visit your nearest branch with the following documents:
- Nationally accepted identification (valid Voter’s ID Card, driver’s licence or passport).
- Two passport-size photographs.
- Proof of address - utility bill less than three months old.
- You don’t need to give us the above documents if you hold a current or savings account. with us. You only need to fill in an application form.