This is a high interest bearing account in which the deposit is held for a specific period of time at a fixed rate of interest.
- Funds fixed in account for term periods of 1 month, 2, 3, 6, 9 or 12 months or on call.
- Attractive interest rates (Interest calculated monthly and paid only on matured deposits).
- Confirmation of deposit receipts given on placements and on maturity of deposit.
- Mandatory written instructions to withdraw or increase deposit.
- Account holder may secure loans and overdrafts using the deposit.
- Facilitation of joint account operation.
- Proper documentary identification (National ID card or Passport).
- Business Certificate of Registration.
- Minutes of meeting to open bank account signed by Chairman and Secretary for Institutional accounts.
- Certificate of Incorporation, Memorandum and Articles of Association for Limited Companies.
- Minimum account opening balance of Kshs. 50,000.