AWE Fixed Deposit Account

The Fixed deposit account is a withdrawable deposit account where depositors can place short term deposits for a specified periods of time usually between three to twelve months. The account targets members with large sums of money that they have put aside for investment and they are certain of the period that they can commit the funds.

  • Optional Account
  • Minimum Amount: KES 50,000.00
  • No maximum amount
  • Minimum period 3months while maximum is 12 months.
  • The customer is issued with a Certificate of Deposit upon depositing the money.
  • The Certificate of Deposit details the amount deposited, date deposited, interest rate applicable, contract period and the maturity date.
  • Upon maturity the depositor can rollover the principal together with the interest or collect interest and rollover the principal or collect both principal and interest.
  • Interest rate is based on market rates at the time of deposit or roll-over.
  • 50% interest penalty for early liquidation.
  • Joint Accounts are allowed
  • Spouse Accounts are allowed
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