Fixed deposit account.jpg

Fixed Deposit Account

A Standard Bank fixed deposit account is an investment account which allows business to invest their funds for a fixed period of time.

What does it offer me?

  • Minimum balance is MWK10, 000.00
  • Funds can be pledged and used as collateral
  • No service fees
  • Disposal instructions can be amended before maturity
  • Several investment period options
  • A customer may have more than one deposit
  • Funds are available upon maturity.
  • Early termination attracts a penalty

Key benefits:

  • Interest is earned on funds held in the Fixed deposit
  • The funds can be used as collateral for borrowings
  • The account helps to act as a fall-back position for the business when there is a cash flow squeeze

Periods available:

  • 1 month
  • 2 months
  • 3 months
  • 6 months
  • 9 months
  • 12 months

 

 

What do I need to apply?

Any individual wanting to invest

Documentation required:

  • For existing clients no additional requirements are required they simply need to go to their branch and fill application forms,
  • For new clients the following documents will be required
  • Valid identity documents for the proprietor i.e. Passport or Drivers Licence
  • Business Registration certificate
  • Proof of residential address i.e. copies of current utility bills or tenancy agreements

 


 
Saving your details - Please Wait...

Call me back

Thank you for your enquiry.
One of our consultants will be in contact with you.

Online Banking

Sharesocialicons