FirstPremium Term Deposit is made for the investor who requires more value for his money. It offers higher interest rates than the conventional term deposit and has fixed tenures of either 6 months or one year.
Discover more about the FirstPremium Term Deposit below:
Why choose this account?
- Year Tenured Variant
- Attractive interest rates
- Amount can be terminated before maturity but accrued interest will be forfeited
- Month Tenured Variant
- Interest payment is to be earned backend
- Very high yield.
Who can apply?
- HNIs
- Individuals and Corporate organisations can apply for this loan.
What documents do you need?
- Filled Fixed Term Deposit Form
- One passport photograph
- Customer Investment advice.
To open a FirstPremium Deposit account
- Download the Fixed Term Deposit Form
- Complete the form and submit at the nearest FirstBank branch
1) What is the minimum and maximum tenor for a First Premium Term Deposit?
- The minimum tenor is six (6) months and the maximum tenor is one year, subject to rollover.
2) Can interest be earned monthly on the First Premium Term Deposit?
- Interest can only be earned after 6 months, either as terminal interest for the 6-month variant or as semi-annual interest for the 1 year option.
3) Can the First Premium Term Deposit investment be liquidated at any time?
- Yes, it can be liquidated at any time; however, the special interest offer is forfeited, and the interest reverts to the Bank’s premium savings interest rate (presently 2% p.a.).
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Fixed Deposit Account: An investment account that lets you save a specific amount, over an agreed period, at an agreed interest rate.
Domiciliary Account: This is an account that allows you save in US Dollars, Pounds Sterling or Euro.
Commercial Mortgage: Businesses can get this loan to finance the purchase of landed property for commercial purposes.
