A withdrawable deposit account where depositors can place short term deposits for specified periods of time usually between three to twelve months. The account targets members with large sums of money that they have put aside for investment and they are fairly certain of the period that they can commit the funds.
- Fixed for a specific period of time
- Minimum Ksh.50,000
- Can be used to secure loans at 95%
- Interest on maturity
- Competitive market interest rates
What can a member do on maturity?
- Re-invest the whole amount (Principle plus interest) and Withdraw part and re-invest the balance