NRN FIXED DEPOSIT
This is a great investment option that is safe and liquid (subject to issuance of Certificate) and earns excellent returns. These are accounts of a longer term nature – 30, 60, 90, 180 and 360 days.
Features
• Attractive interest rates as much as 14% p.a depending on the amount to be fixed and tenor.
• Available in both Naira and Foreign currency.
• Option of re-investing your funds on maturity or just your principal and having the interest paid into your account.
Eligibility
NRN current, Savings and Domiciliary account holders.
Types
We have 3 main term deposit types namely:
Fixed Term Deposit (FTD).
Bankers Acceptance (BA) and
Guaranteed/Ordinary Commercial Paper (CP or GCP).
Fixed Term Deposit
A Term Deposit account gives you the opportunity to invest a fixed amount over a fixed period at an agreed fixed interest. This is branch based placement option on which Interest is paid on maturity and is subject to withholding tax. Minimum deposit for FTD is N100, 000.
Banker’s Acceptance/Commercial Paper/Guaranteed Commercial Paper
This is the money market based placement. The interest value is payable upfront and the minimum placement value is N1,000, 000 00 million for both BA and CP/GCP. Please note that BA/CP/GCPs are not available for tenors above 90days
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