Fixed Deposit Account


It is a time deposit with fixed terms where a certain amount of money is kept in the account for a predetermined fixed time and interest rate.

Key features of a fixed deposit account for your business are;

  • Funds are invested for a fixed period
  • Interest is paid on maturity
  • Investment duration ranges from  3 or 6 or 12 or 24months
  • Fixed Deposit receipt is given to a customer as a certificate of deposits which is presented for payment during maturity
  • It can be renewed as per the customer’s instructions
  • It can be opened in either TZS, USD, and EURO
  • Premature withdrawal attracts a penalty

  • A customer knows in advance the amount of interest to be earned
  • A flexible maturity of 3, 6, 12, and 24 months enables a customer to choose a suitable investment plan
  • Risk-free investment with a guaranteed return
  • Easy to access an overdraft facility in case of need (It can be used as a lien/collateral for a loan)
  • The renewable investment enables customers to maximize his / her interest earning

  • Application letter for account holders (existing customers) or for new customers
  • Letter of introduction for your business
  • Introduction letter from local government and voter registration card or passport or NIDA ID
  • A referee holding an account with CRDB Bank and voter registration card or passport
  • Two passport size photographs
  • Initial deposit amount

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