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FIXED DEPOSIT A/C

Fixed Term Deposit (MediGold) Account

  • The deposits in this account are for a stated amount, until a stated maturity, for a stated interest rate.
  • Fixed deposit investment at a rate of upto 12.5% per annum.
  • The member receives a certificate from the SACCO when making this type of deposit.
  • The longer the maturity period of the deposit the higher the interest rate.
  • The SACCO normally start with offering 3 (three) months, 6 (six) months and 1 (one) year maturities.
  • These funds may be used to secure a loan. The loan maturity shall match the deposit maturity.
  • The interest rate is fixed until maturity. Interest will be paid upon maturity for all the deposits.
  • No withdrawal may be made from this account. If the funds are requested prior to maturity the interest will be forfeited.


Fixed Deposit Rates

AMMOUNT FIXED RATE
50,000 TO 300,000 9 %
300,001 TO 600,000 10 %
600,001 TO 1,000,000 11 %
1,000,001 TO 2,000,000 12 %
2,000,001 AND ABOVE 12.5 %