It is fixed deposit account with extended tenure, where a customer invests funds for a period of 36 months and continues enjoying interest which is paid monthly on a selected savings or any other account.
- Operating Currency: T-Shilling
- Minimum fixing amount: TZS 1,000,000
- Maturity tenure is 36 months.
- Fixed Interest Rate
- Interest paid Monthly on a different account selected by the customer
(normally Savings Account)
- Certificate of Deposit/Fixed Deposit Receipt (FDR) is issued
- Deposit leads to forgoing 50% of the interest earned
(recovered from the deposit).
- High return investment – competitive interest rate is offered
- Longer saving period
- Ability to access interest income before maturity of the investment.
- Risk free investment
- Emergency loan of up to 90% of the deposits (lien).