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