Fixed Deposit Account

Fixed Deposit is an investment account which allow customers to place a fixed amount of money for a fixed period at an agreed interest rate. Interest earned is paid at maturity.

Features

  • Investment period is a minimum of 30 days and a maximum of 360 days
  • Upon customer’s instructions, fixed deposit can be rolled over or paid out at maturity

Benefits

  • Attractive interest rates
  • Can be used as collateral for loans from the Bank

Required Documentation

  • 2 Passport size photographs
  • Valid Photo ID (Voter’s ID, Driver’s License, Passport, National Identification card)
  • Proof of address; Utility Bill
  • Complete FBNBank Account opening form

Who Can Apply?

  • Individuals 18 years and above with funds that do not require immediate use.

To open a Fixed Deposit account,

  • Download the Fixed Term Deposit Form
  • Complete the form and submit at the nearest FBNBank branch

1) What is the tenor for fixed deposit?

  • It varies between 30 days and 360 days.

2) Can the investment be rolled over?

  • Yes, based on an instruction from the customer.

3) Can the investment be terminated before maturity?

  • Yes, investment can be terminated before maturity; however a portion of accrued interest will be forfeited.
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