FIXED DEPOSIT ACCOUNT
- This is a fixed period savings for One month
(31days ), Three Months
(91 Days), Six Months (182 Days) and Twelve Months
(1 years fixed note).
- A fixed deposit account shall attract interest
rate higher than savings account.
- Management shall determine attractive and
competitive interest rates (subject to review) for
each specific period of deposit and displayed on
- A minimum amount of One Hundred Ghana Cedis (GHs100.00)
shall be accepted and any other deposit above the
minimum shall be in multiples of Fifty Ghana Cedis (GHs50.00).
- A certificate shall be issued to the customer
specifying date of purchase, expiry date, interest
rate, amount of deposit and duly signed by the
Manager and Accountant.
- Both customers and non-customers are eligible to
invest in Fixed Deposit.
- Interest shall be paid on maturity of the
deposit only. Interest rate shall be either fixed as
agreed with client or floating rate subject to the
prevailing treasury bill rate plus or minus an
agreed basis points.
- Customers shall have the option to rollover or
redeem the investment after maturity.
- Where a customer intends to rollover an
investment, he or she shall present the original
certificate for a new expiry date and the account
- Where a customer opts for redemption, the
certificate shall be surrendered to the bank and
- Rediscount or withdrawal shall be permitted
before the expiry date of an investment at a minimal
fee as agreed with the investor at the time of