FIXED RECURRING DEPOSIT

FIXED RECURRING DEPOSIT

Save towards achieving your target e.g. School Fees, Personal Assets, Insurance Covers or Holiday.
Achieve Your Goal
It’s a Savings Account meant for individuals who want to save a fixed amount of money every month for a specific period.

Features

Some of the main features include:

  • Deposit period: Minimum - 6 Months / Maximum - 36 Months
  • Monthly instalments: Fixed amounts to be deposited every month. From - Kes. 5,000/=
  • Monthly instalments to be in multiples of Kes. 1,000/=
  • Instalments are due on a fixed date every month.
  • Free automatic transfers from Transactional Account to Recurring Deposit Account.
  • Attractive rates of interest.
RECURRING DEPOSIT - MATURITY VALUE CHART
MONTHLY INSTALMENT OF SHS. 10,000
Period (Months) Principal Amount Gross Interest Earned Maturity Amount
6 60,000 1,053.50 61,053.50
9 90,000 2,268.80 92,268.80
12 120,000 4,621.30 124,621.30
15 150,000 7,151.50 157,151.50
18 180,000 10,251.00 190,251.00
21 210,000 13,929.70 223,929.70
24 240,000 20,914.70 260,914.70
27 270,000 26,532.10 296,532.10
30 300,000 32,861.90 332,861.90
33 330,000 39,918.25 369,918.25
36 360,000 47,715.70 407,715.70
Note: The maturity amount is based on current rates which are subject to change