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 | |||