? Mkango Deposit Account | NEW FINANCE BANK
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° Viewing Mkango Deposit Account (Fixed Term Deposit)
Let your Money work for you!

Mkango is a Fixed Term Deposit Account that allows one to draw interest upfront before maturity of an investment leaving your deposit intact.

Requirements

  • Copy of valid identity document i.e. passport, driver’s license, MEC ID, Introductory letter from Chief/Head man.
  • Proof of residence i.e. utility bill
  • Sketch Map of residence

Features

  • Minimum fixed deposit balance of MWK10,000.00
  • Fixed Deposit accounts rates (subject to change according to RBM`s rates)

  • - 1 Month 11%
    - 2 Months 12%
    - 3 Months 13%
    - 6 Months 13.50%
    - 9 Months Negotiable
    - 12 Months Negotiable

  • Fixed deposit advice slip

Benefits

  • Interest rates are determined by duration of the deposit.
  • Customer is paid interest upfront(less withholding tax) and thereby allowing the customers to utilize their money there and then.
  • Customer can borrow 50% of their funds placed on their account at the banks rate for a maximum period of 12 months.
  • No commission or fees.
  • Peace of mind as your capital remains intact.
  • Reinvest funds at maturity.

Terms and Conditions

  • Partial withdraw is not applicable.
  • Replenishment is not applicable.

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