About the product
A fixed deposit account is an investment account and a type of savings account in which money is deposited for a stated period of time and a fixed interest rate is paid at the end of that period.
It is an investment account with a specific amount invested at an agreed interest rate and tenor. Based on customer’s instructions, at the end of agreed period (tenor), the investment can either be rolled over (re-invested) or liquidated (returned to customer) with the interest amount earned.
Why Choose this Account?
*Investment period (tenor) is a minimum of 90 days and a maximum of 360 days.
*Minimum opening balance is N100, 000
*Amount can be terminated before maturity but accrued interest will be forfeited.
*Amount can be terminated at customer’s discretion with a 30 days prior notice
*Attractive interest rate (15-22% per annum)
What Documents do you Need?
Filled Fixed Term Deposit Form
Proof of Identification
Customer Investment advice
How is fixed deposit interest calculated?
Multiply the interest rate by your fixed amount. In the example above, 18% x N500,000 = N90,000. Divide the result by 12 months: (N90,000/12 months) to get your monthly payments (N7,500) and for 3 months, you get N22,500
It is an investment account with a specific amount invested at an agreed interest rate and tenor. Based on customer’s instructions, at the end of agreed period (tenor), the investment can either be rolled over (re-invested) or liquidated (returned to customer) with the interest amount earned.
Why Choose this Account?
*Investment period (tenor) is a minimum of 90 days and a maximum of 360 days.
*Minimum opening balance is N100, 000
*Amount can be terminated before maturity but accrued interest will be forfeited.
*Amount can be terminated at customer’s discretion with a 30 days prior notice
*Attractive interest rate (15-22% per annum)
What Documents do you Need?
Filled Fixed Term Deposit Form
Proof of Identification
Customer Investment advice
How is fixed deposit interest calculated?
Multiply the interest rate by your fixed amount. In the example above, 18% x N500,000 = N90,000. Divide the result by 12 months: (N90,000/12 months) to get your monthly payments (N7,500) and for 3 months, you get N22,500
Price
15-22% per Annum
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