TERM DEPOSIT ACCOUNT

A Term deposit account is a type of account that member shall lock away an amount of money for an agreed length of time and in return, he/she will get a guaranteed rate of interest for the term he/she selects.

Targeted Members

Salaried individual members working in the health sector in Rwanda (public and private);
Public and Private institutions in health sector;
Informal Groups(Ibimina), Associations, Cooperatives, Companies of members.

Benefits

A term deposit ensures your money will earn interest at a fixed rate, for a fixed term;
Savings serve as a basic guarantee when members wish to apply for a loan or other credit services.

Eligibility Criteria

For individual; He/She must be a salaried employee in health sector;
Having subscribed to compulsory savings deductions;
Ready to pay at least 5,000frws of initial payment of Share capital (for individual) and 10,000frws (for corporate members).

Products features

Minimum amount: 100,000Frws
Account maintenance fee/Monthly charges: Not applicable
No charges applied to Transfers between internal accounts;
Period: 6 months or 12 months

Requirement

Signed Term deposit contract (Individual & Corporate members);
Copy of Identity card/Passport of applicant;
Corporate certificate(where applicable).

TERM DEPOSIT ACCOUNT

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