Individual Term Deposits

Purpose

This product is offered to all individual customers, who wish to save money for a period of time at high interest rates.

Quick Facts

  Currency of Account

TJS,  USD, EUR

  Minimum opening balance

TJS 100 / USD 20 / EUR 20

  Maximum balance

No restrictions

  Minimum term

1 month

  Maximum term

3 years

  Interest rate

          Please refer to Interest Rates on Deposits

  Interest accruals

Daily

  Interest payment

Simple. Paid on monthly basis to the Current account of the Customer. Customers wishing to receive the accrued interest to the Easy Deposit account should notify the bank in writing. The customer can also request the Bank to transfer the monthly accrued interest amount to his/her card account

  Interest rate terms

The interest rate remains fixed for the full term of the deposit

  Replenishment of deposit   account

Not allowed

  Methods of deposit account   replenishment

  • By cash through any FMFB service outlets
  • Non-cash from other accounts with FMFB maximum within 10 days from the date of account opening

  Withdrawals

Allowed.  In case of early termination, the client is paid according to the interest rate which was applicable at the time of opening of the deposit, for the actual deposit period minus 1% penalty for the early termination. If the termination happens during the first month, the interest is not paid at all

  Early termination of deposit   contract

n/a

  Additional advantages

The Customers having Term Deposit accounts for more than 1 year have the opportunity to take Express loans according to the prevailing credit terms and conditions for the amount not exceeding 75% of the outstanding amount on deposit account. In such case, the deposit account is used as cash collateral.

The terms of disbursed loan should not exceed the term of deposit. 


Benefits

 Secure your money with a well-respected and safe local bank so you dont have to worry about storing your cash at home

 Earn high interest to grow your savings

 Access express loans against your term deposit balance for accounts that have been open for more than 1 year (see terms and conditions, additional advantages)

 Automatic transfer of your funds into your current account upon maturity of your term deposit