Stanbic Bank is the best bank to open a Fixed Deposit Account. The bank offers attractive interest rates on your saving and also ensures your money is invested wisely.
Features of the account
- No monthly management fee is charged, which means your savings do not get depleted by bank charges
- There is no maximum balance.
- Funds are available on maturity
- The deposit amount is fixed during the investment period
- The interest rate remains constant during the investment period, and is paid on maturity
- Fixed investment periods range from 30 days up to 5 years*.
- Available in local and foreign currency options
*5 years for local currency only
Minimum Opening Balance
A minimum investment of KSh100, 000 (or equivalent in foreign currency).
When you are investing in Stanbic Bank, you expect your money to earn interest. I am one of the many individuals who have invested money into fixed deposit account at Stanbic bank. What I did was to approach the bank, I negotiated with them on the amount I intended to save each month. We negotiated on the interest rate and arrived at 7.5 %, which is not bad considering the interest rate caps.
For the last three years I have been saving and my money has earned unbelievable interest rates.
Apart from Unit Trusts and Bonds, Fixed Deposit account is another excellent way you can save your money.