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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).

 

GIRIWAWE (AFFORDABLE HOUSE LOANS AT 10% INTEREST RATE)

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