African Bank Fixed Deposit Investment Account

African Bank Fixed Deposit Investment Account Features:

• Terms range from 3 months up to 60 months.
• The interest rate does not change for the duration of the investment – the rate is fixed at the start of the investment and does not change even if dominant interest rates change.
• The start date is the day on which the money is received by African Bank.
• Interest can be paid out monthly / every 6 months / every 12 months or upon maturity.
• African bank allows for additional deposits into a fixed deposit for the first 7 days after initial funding to cater for transfer limits on internet banking platforms. Thereafter no additional deposits are allowed into a Fixed Deposit.
• In exceptional cases the customer can apply to the bank for early withdrawal of the funds – this is at the bank’s discretion and a penalty fee will apply.