Overview
A Fixed Deposit is an investment account where money is deposited for a fixed period of time and the interest does not fluctuate.  A Fixed Deposit offers interest rates higher than ordinary savings accounts and is ideal if you want to save for a specific goal – like the deposit for a wedding or a year-end holiday.
You choose how long you want to invest – from one month to one year. 

Features and benefits

• You must make a minimum investment of at least MWK10 000

• You can choose the date on which you would like your investment to mature
• The funds in your account can be pledged and used as collateral
• There are no service fees charged for a Fixed Deposit
• Several investment period options are available – from 1 to 12 months
• You can choose to have more than one Fixed Deposit if you want to save for different goals
• You cannot withdraw funds from your Fixed Deposit account during the period of your investment.  Early termination attracts a penalty

Who can apply
If you’re over the age of 18 and serious about saving for a specific goal, a Fixed Deposit account is for you! 

How to apply
Opening a Fixed Deposit account is easy!  Just visit your nearest Standard  Bank branch with your valid Identity Document and complete an application form.