Fixed Deposit

Fixed Deposit


A Fixed Deposit Account is a form of savings account, the only difference being that a contract is signed where the customer agrees to forgo access to his or her funds for an agreed period in return for a higher rate of interest. It is ideal for customers (both corporate and individuals) who have substantial amount of money in their accounts and wants to maximise huge returns. Interest rates presently range from 5% to 6% per annum.

Benefits

  • TBL offers the most competitive rates on Fixed Deposit accounts.
  • We provide automatic rollover of principal and interest at maturity.
  • It could serve as collateral for loans and overdrafts.

Interest Payments

Amount Interest Payment
One month Fixed Deposit  
Less than D1,000,000 4%
D1,000,001 and above 4.25%

Other Fixed Deposits 3 months 6 months 9 months 12 months
D25,000 to D1,000,000 5% 5.25% 5.50% 5.75%
D1,000,001 and above 5.25% 5.50% 5.75% 6%

Nb. The minimum / opening amount required to operate any class of Fixed Deposit is now pegged at D25, 000

Design and Developed by Matrix Solution Ltd.