Fixed Deposit

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.

What does it offer me?

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

How to apply?

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! You must have transaction account with standard bank then visit your nearest Standard Bank branch with your valid Identity Document and complete an application form

Online Banking