FIXED DEPOSIT
It is an excellent investment product that gives members the opportunity to invest
idle funds which are not for immediate use.
Features
- The product is suitable for individuals, groups and corporate institutions.
- Minimum investment amount of GHC200.00.
- Funds can be invested for 91, 182 or 365 days upon member's instruction.
- Roll-over option available on maturity.
- Liquidation prior to attaining 80% of the investment tenure will attract a loss of interest as follows:
- Less than 33% of the tenure will not earn any interest
- Forfeit 50% of the accrued interest where investment has not attained up to 50% of the tenure
- Forfeit 20% of the accrued interest where investment has attained more than 50% but less than 80% of the tenure
- Interest are paid at the end of the investment tenure