Fixed Deposit Account
Goal Account
Get closer to your Chama goals with the highest-earning savings account in Kenya. Lock your savings for periods between 6 months and 5 years while being able to borrow up to 100% of those savings in loans. The Goal Account also offers great flexibility, allowing you to open multiple accounts to help you pursue all your dreams.
Fixed Deposits
Grow your money with our Fixed Deposit account. Our competitive interest rate of up to 6% p.a. on your savings will have you reach your goal faster. The interest applies to local and foreign currencies; and will only be accrued if the money remains in the account for the agreed tenor.
Dual Currency Deposits
Dual option currency deposits provide a fixed rate of interest above that which is paid out by traditional money market investments.
The tenure of these deposits’ range from one to three months, during which no capital protection is offered.
Treasury Bills & Bonds
Looking for a stable and risk-free way to grow your money? Treasury Bills and Bonds are a surefire investment that can be a stable source of income.
KCB Capital in Treasury Bills and Bonds on your behalf.
Call Deposits
Sign up for Call Deposit; an interest-bearing investment account that allows you to withdraw your money from the account without a penalty, at a moment’s notice.
Enjoy the various benefits, such as withdrawing from your account without prior notification to the bank.
Custody Services
Our custody services are designed for all our customers from retail customer, high net-worth individuals, and corporates looking to diversify their investment portfolio both in the local and international money market funds.
We will hold in custody on your behalf funds, securities, financial instruments or documents of title to the assets of an investment portfolio.
Our core customer services include; settlement of investment transactions, capital and income collection (e.g. dividends, Interest income), corporate actions processing, proxy voting services, compliance monitoring, activity reporting, corporate trustee services, central depository agency services and safekeeping of securities
Fixed Deposit Account. Guaranteed capital and return on investment. Tenure: Minimum of 30 days, maximum of 180 days. Interest rate and tenure is subject to customer’s preference. Interest with principal can re-invested immediately after the end of the agreed tenure. Interest received is not subject to tax. Flexi Fixed Deposit for Current Account customers The Flexi Fixed Deposit feature gives you the liquidity of a Current Account coupled with high earnings of a Fixed Deposit. This is achieved by creating a Fixed Deposit (FD) linked to your Current Account providing you the.
Fixed Deposit Account: A Fixed deposit account is an account where by funds are deposited for a fixed period of time at a fixed interest rate. The minimum period of time allowed is three months. A Fixed Deposit Account earn interest on the deposited amount for the specified period and no withdraw is allowed before the expiry of the agreed time period otherwise penalty fee may be charged to the. J$100 NCB START (up to 17 years of age) J$2,000 NCB Regular Save; J$5,000 NCB Gold Club (age 55 and over) J$5,000 NCB Chequing Account; J$10,000 NCB Sunshine Savers. An investment account with a fixed term, typically giving you a higher interest rate than investments available overnight or with notice.
Securing future and protecting themselves from financial loss can only be possible with some smart investments. These smart future investment ideas need to be executed by the source of investments. And one of the main source of investment with fixed interest rates and higher return is fixed deposits. The fixed deposits are one of the ideas for a safe investment plan with fixed interest rates. In this type of investment, the investors shouldn’t worry about the risk because there is no risk in this form of investments.
What is a Fixed Deposit?
Fixed deposits are one of the safest form of investment. In this form of investment a person holding a savings bank account in a financial institutions, government and private banks can keep a lump sum of amount in a fixed deposit. And on that fixed amount there will be a certain percentage of interest rates are levied. And this levied charges will be added to the principal amount deposited. Moreover, the final amount will be withdrawn only at the time of maturity. Which is at the end of the fixed period of time.
How Fixed Deposit Bank Accounts work?
As a matter of fact the rules and regulations are levied on a fixed deposit accounts are based on the government orders. Therefore, all the procedures involved in this fixed deposits are liable under the act of government policies.
1) All deposits will be liable for a certain percentage of interest
When it comes to fixed deposits, it is termed as an investment because of the added interest. The added interest will be based on the term of the fixed deposit account. A person investing or assuring a fixed lump sum amount needs to be aware of the fixed rate of interest levied on the principal deposits.
Also Read : What is a Recurring Deposit ?
2) Interest levied on the basis of the tenure
All fixed deposit accounts are calculated with a rate of interest added to the account, on the basis of the entire work structure of the fixed deposit account. Therefore, if a person invested fixed deposit for 3 months, then the rate of interest will be levied on the amount for an interest rate supporting 3 months.
3) The fixed deposit amount cannot be withdrawn before the maturity period
A person investing in a fixed deposit needs to plan their deposit tenure clearly. And that is because if the person decides to withdraw the amount, it is not possible to withdraw any kind of money from the account. Therefore, a person need to keep it for a period of time, which can be feasible for them.
4) Penalty charges will be added for breaking the account in advance
It is not easy to break a fixed deposit account well in advance. And if it is broken, then some part of the penalty will be charged at the time of withdraw. These percentages of penalty will be charged at principal fixed deposit.
5) Assured value of return
As mentioned several times that fixed deposit accounts are a risk free source of investment. This risk free zone creates an assured rate of return at the end of the completion period. Therefore, a person investing in a fixed deposit will be gaining an assured return at the end.
Features Of Fixed Deposit Account
6) Supports savings and safeguards the deposit for a period of time
One of the major positive points of fixed deposit account is that it can be kept for a period of time without any debit. It encourages people to deposit their money as a fixed deposit as it safeguards that amount from unnecessary spending.
What Is Fixed Deposit
At the end, these fixed deposit accounts are a risk free source of investments. And some of the points mentioned above regarding fixed deposits can be beneficial for future investment purposes.
Fixed Deposit Account Bank Statement
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