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Contract Save Account

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Contract Save is an affordable, disciplined savings plan that can be tailored to suit your specific needs. It is ideal if you want to save for big future expenses like the deposit on a house, a wedding ceremony, school fees, or to top up your retirement savings. A monthly stop order is required from your main account into the contract save account to ensure that the account has money throughout the period. This ensures that you save regularly over a period of time, without giving in to the temptation to spend your savings.

Some of the benefits

Free

There are no monthly fees charged on a Fixed deposit account

Control

Monitor your saving through 247 online

Flexibility

You can make additional deposits to the account at any time.

Free choice

You can choose to open more than one ContractSave account if you are saving for multiple goals.
Acceptable Transactions
  • A monthly standing order, minimum MK10,000.00
  • Additional standing orders
  • Further deposits via the funding account
  • Withdrawals before maturity of the contract attracts penalty fee of 40% on the earned  interest.

 

Interest Distribution
  • Interest rates up to 11% per annum plus a bonus interest up to 30% of total interest accrued
  • Interest Details are as follows:
  • Investment from < MK499,000           6% per annum
  • Investments > MK499,000 <K5,000,000           8% per annum
  • Investments above MK5,000,000      11% per annum
  • Bonus Interest is calculated on total interest accrued as follows:
  • 3 months investment             10%
  • 6 months investment             20%
  • 12 months investment          30%
How to get it
  • National ID
  • Minimum deposit of MK 10 000.00

 

  • Acceptable Transactions
  • Interest Distribution
  • How to get it
  • A monthly standing order, minimum MK10,000.00
  • Additional standing orders
  • Further deposits via the funding account
  • Withdrawals before maturity of the contract attracts penalty fee of 40% on the earned  interest.

 

  • Interest rates up to 11% per annum plus a bonus interest up to 30% of total interest accrued
  • Interest Details are as follows:
  • Investment from < MK499,000           6% per annum
  • Investments > MK499,000 <K5,000,000           8% per annum
  • Investments above MK5,000,000      11% per annum
  • Bonus Interest is calculated on total interest accrued as follows:
  • 3 months investment             10%
  • 6 months investment             20%
  • 12 months investment          30%
  • National ID
  • Minimum deposit of MK 10 000.00