Fixed Term Deposit Account

A Fixed Term Deposit is an investment account where money is deposited for a fixed period and the interest does not change. The account earns higher interest than ordinary savings accounts and is ideal if you want to save for a specific goal – like the deposit for a wedding or year-end holiday.

What does it offer me

  • You can choose the date on which you would like your investment to mature
  • The funds in your account can be pledged and used as collateral
  • There are no service fees charged
  • You can choose from several investment periods
  • You can have more than one fixed deposit account if you want to save for different goals
  • Withdrawals before maturity date attract a penalty.

 

Who can apply

Anyone over the age of 18.

Contact your nearest branch for more information.

How to apply

Opening a Fixed deposit account is easy! Contact any of our nearest branches with your opening deposit and complete an application form:

  • A government recognised identity card, driver’s license or valid passport.
  • Current proof of residence, such as a utility bill (ZESA, TelOne, Water and rates bill or City Council only of less than 3 months). If the bill does not bear the prospective account holder’s name, we require an ID of the property owner as reflected on the utility bill. The property owner must complete a co-habitant form.
  • Proof of income, such as current payslip or 3 months previous bank statements for self-employed people
  • 2 passport size photos

 


 
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