The above Interest Rate and Terms & Conditions are subject to change at the Bank's sole discretion without prior notice to clients.
1. What is Fixed Deposit?
It's an account that provides a fixed rate of return for the term of the product. With no monthly fees, you are guaranteed a specific amount at the maturity date provided.
2. What documents are required for opening Fixed Deposit?
The required documents for Fixed Deposit are:
- For individual
-Original National ID for resident
-Original passport and valid visa for non-resident
- Business registration letter from Ministry of Commerce
- License, Business Memorandum and company seal
- Copy of board of director's passport or ID with specimen of their original signature and stamp
3. What is the maturity date of a Fixed Deposit?
The maturity date is the day the current term ends and the funds are now available to the customer for any changes. To find your maturity date, refer to your statement or your original certificate of FD.
4. Is there monthly maintenance fee for Fixed Deposit?
There is no monthly maintenance fee for Fixed Deposit.
5. What is the minimum balance for a Fixed Deposit?
The minimum balance for opening a Fixed Deposit is $500.
6. What is the maximum deposit that I can make to Fixed Deposit?
The maximum balance per Fixed Deposit account is unlimited.
7. Does my Fixed Deposit automatically renew at maturity date?
If you do not come to your home branch of opening account to close your account and get your principal money and interest rates, your FD will be automatically renewed to the same term at the current interest rate and at the time of maturity.
8. How can I close my account?
You can go to visit your home branch of closing account. There will be USD10 penalty fee for closing account within 2 weeks from the opening date. However, savings interest rate will be applied for pre-maturity withdrawal. Interests paid including tax shall be returned (prematurity withdrawal) if premature withdrawal of monthly interest payment Fixed Deposit is requested.
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