° Banking Services
° 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.
- 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
- 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
- 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.