Fixed Time Deposit
It is a type of deposit intended for depositors who want to save a specific amount of money for a certain period of time at a negotiated interest payment.
TARGETS : Individuals, organizations and associations
The rate of interest is pre-specified by negotiation and varies depending on the amount and the agreed maturity period,
An instrument called Certificate of Deposit (CD) is issued to customers as an evidence for their deposits,
If the depositor wants to withdraw the money before maturity date, he will forfeit the interest payment,
It is repayable after a pre-determined period of time.
Fixed time deposit request
shall be presented in formal written application
The minimum accepted deposit is
birr 10,000 and the minimum maturity period is 90 days,