The CBA Deposit accounts are designed to offer maximum return on your investment. In addition they also offer you flexible investment periods and interest is paid upon maturity or at specific periods of the year. We offer you choice to invest in local and designated foreign currencies.
Two investment options:
The Call Deposit Account is ideal for the saver who wants to earn high interest over a short-term and still have funds to use as needed after seven days. With the Call Deposit you may invest a minimum of Kes 10,000,000 for a period of 7days onwards. You may make partial withdrawals without notice as long as the balance does not go below the minimum amount after the seven day period. No Interest will be paid on a call deposit withdrawn before 7 days.
The Time Deposit Account offers a high-yield return and allows you to determine how long you want to invest. Minimum amount you may invest in time deposit is Kes 500,000 for both retail and corporate customers. You may choose to invest for durations between 1-12 months with an option to rollover the principal amount on the expiry of the period. What`s more, you get interest paid upon maturity or at designated intervals - at a market rate. No Interest will be paid on partial or full withdrawal of the fixed deposit before the maturity date.
For foreign currencies the minimum amount for both retail and corporate customers is either USD 10,000 or Euro 10,000 or GBP 10,000. The terms above for call or fixed deposit will apply on foreign currency deposits as well.
More about deposit accounts:
- The Deposit accounts are short to long-term investment vehicles.
- The interest rate is fixed and guaranteed for the term of the investment, so you don`t have to worry about declining interest rates.
- Interest payment options are flexible, allowing interest to be paid monthly, quarterly, half-yearly, annually or on maturity.
- You may use any of these deposit accounts as security against an overdraft or loan of up to 90% of the deposit in the currency of your deposit or 80% of your deposit for other currencies at very competitive interest rates
- CBA will automatically re-invest/ roll over your funds after the maturity date, unless you instruct us otherwise. Should you wish to change your investment period, just inform us before the date of maturity
- In addition you will receive a free advise slip in the mail upon maturity or on request