Fixed Deposit Account

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 30 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
  • Attractive interest rate

Who Can Apply?

  • Individuals and Corporate organisations can operate this account.

What Documents do you Need?

To open a Fixed Deposit account,

1) What is the tenor for fixed deposit?

  • It varies between 30 days and 360 days.

2) Can the investment be rolled over?

  • Yes, based on an instruction from the customer.

3) Can the investment be terminated before maturity?

  • Yes, investment can be terminated before maturity; however a portion of accrued interest will be forfeited.

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