This is an interest-bearing product made for clients who have money sitting around that they can invest wisely for good returns. This is a single deposit with a fixed duration and an interest rate that is guaranteed. It is suitable for both short-term and long-term investments.

Earn competitive interest rates above the BOG Treasury bill rate when you deposit at least GHC 500.00. You can choose to collect your interest earnings in full, on a monthly basis, or you can wait until maturity to get your principal plus accumulated interest.

Each transaction involving a fixed deposit must go through the customer’s accounts. The advertised rates on this transaction must be rigorously followed, and interest is always visible. Nevertheless, the proper manager,

WHAT OUR INVESTMENT POLICY HAS TO OFFER
A fixed-term deposit is a set amount of money deposited with the bank for a predetermined amount of time at a predetermined rate of interest.
Because fixed deposits have set maturities for predetermined sums of money, they can be distinguished from savings accounts. Savings Deposits can always be increased at the counter without the Operations Manager’s knowledge or consent. However, if a client wants to raise the amount of his fixed deposit with us, he must negotiate with the operations manager to have a new fixed deposit certificate issued for the additional deposit, which may or may not be subject to various interest rate considerations.
Safe Microfinance would accept long-term fixed deposits.

Fixed deposits from Safe Microfinance were accepted for terms of 3, 6, 9, and 12 months.
A tariff of rates applicable to deposits with various maturities would be on display at the Branch by Safe Microfinance. After the time period for which they were accepted expires, interest on such deposits stops accruing.
Fixed Deposits may be accepted in the names of one or more individuals, two or more individuals acting jointly (repayable to all jointly or to anyone in line with the instructions of the depositors), or in the names of businesses, organizations, unions, etc.
Fixed Deposits must be redeemed at maturity, as the name suggests. Such deposits may, however, be “rolled over” for an additional defined period—which may be shorter or longer—with the Depositor’s consent. The full interest will be lost if a depositor insists on redeeming a fixed deposit before the scheduled maturity date because the account was terminated early. The total interest paid will be subtracted from the actual amount invested in cases when interest is paid in monthly installments.

INVESTMENT PROCEDURE
First, the customer needs to open a savings account.

Finish filling out the application for fixed deposits.
The customer makes a full deposit into her savings account.
On the form, the customer specifies the preferred maturity period, whether or not the principal and/or interest should be rolled over to a new fixed deposit upon maturity, and the savings account to which the remaining sum should be credited.
Give the Fixed Deposit Form to the Operations Manager, who will then input the necessary data and transfer the necessary sum into the Fixed Deposit account.

In essence, a Fixed Deposit account is a contract with a predetermined amount and maturity date. Because of this, a customer cannot add more money to an opened Fixed Deposit account; instead, the consumer must open a new account or contract with the extra money.

Investments