Money Market & Fixed Income Products
This is an account in which a client deposits specified amount of money for an undefined period of time.The account has no specific maturity date but the funds should be held in the bank for at least 7 days.
Fixed Deposit Account
- This is an account in which a client deposits specified amount of money for a fixed period of time and in turn receives a preferential rate. The tenor can range from 1 month to 1 year.
- Earlier withdrawal leads to forfeiture of interest earned or re-computation of the yield using a lower rate applicable for the period the deposit has run.
- The bank applies for Treasury Bills on behalf of clients for a commission.
- The only product under the Fixed Income is application of Treasury Bonds on behalf of clients. The bank does not charge a commission to clients since it earns the same from CBK.