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Contract Save is an affordable, disciplined savings plan that can be tailored to suit your specific needs. It is ideal if you want to save for big future expenses like the deposit on a house, your child’s education, or to top up your retirement savings. A compulsory, monthly stop order is required to fund the account. This ensures that you save regularly over a pre-selected period of time – without giving in to the temptation to spend your savings

What does it offer me?


  • The ContractSave account is subject to signing a minimum stop order of MWK2 000 per month. Additional deposits (no minimum amount) can be made to the account at any time.
  • You must have a transaction account at Standard Bank to fund your stop order.
  • The minimum balance required to earn interest is MWK10 000
  • The minimum investment period is 3 months. There is no maximum period of investment.



  • You are allowed more than one Contract Save account – ideal if you want to save separately for different goals!
  • Interest is calculated on a daily basis and compounded monthly as follows:
    • Balances <MWK499, 000.00 – 14.00% p.a.
    • Contract Save Balances > MWK499, 000.00 <MWK5, 000 000 – 16.00% p.a.
    • Contract Save Balances > MWK5, 000,000 – 19.00% p.a.
  • The interest rates are tiered and variable.
    • Bonus interest is paid on the investment maturity date. An account qualifies for bonus interest if no more than two consecutive stop orders were missed during the investment period:
    • Bonus after 3 months: 10% of total interest accrued.
    • Bonus after 6 months: 20% of total interest accrued.
    • Bonus after 12 months or more: 30% of total interest accrued.


These rates are subject  to change.

The rate of bonus interest is country specific and calculated on the interest accrued figure.

  • There are no transaction fees charged to the account. However, a redemption fee of MWK1 000 will be charged for early withdrawals.
  • An early redemption fee also applies if the account is closed prior to the maturity date.


How to apply?

Who can apply
If you’re over the age of 18 and serious about saving for the future, Contract Save will help you get there!  You can also open a Contract Save account for your children and get them on the road to successful saving too!

How to apply

To open ContractSave account is easy! If you have a transaction account with Standard  Bank,  just visit your nearest Standard Bank branch with your valid Identity Document and complete an application form. 



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