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IZB Kwacha Term Deposit Accounts

WEF: 05.03.2021     
Sr.No. Product Features Details/Charges**
1.
Target Group Individual, Joint Account holders and Corporate/Non
Corporate Business Accounts
Individuals Customers and Corporate
2.
Account Opening Requirement KYC requirement as stipulated KYC requirement as stipulated
3.
Type of Account Term Deposits Bumi Fixed Deposit
4.
Tenure/Tenor 30 days up-to 5 years Minimum period of 90 days and above
5.
Minimum amount of Deposit ZMW 1,000/- K200,000/ or USD20,000/-
6.
Period Interest Rates
30 days 5.00% 90 Days- 7 %
60 days 5.00% 180 Days -9%
90 days 9.00% 273 Days -10% to 12%
120 days 9.50% 365 Days & above- 10% to
180 days
273 days
10.00% to 11.00%
12.00% to 14.00%
14%
365 days and above 12.00% to 16.00%
7.
  • Set up cost
  • Withdrawal before maturity
  • Free
  • No interest to be paid
  • Free
  • No pre-withdrawal shall be allowed (should a customer insist to withdraw, interest shall be recovered from the principal
    amount).
8.
Interest Payment Credited to customer’s CASA account at maturity. Credited to customer’s CASA account after deal is booked.
9.
At Maturity Date Credit the principal plus interest amount to customers account. Credit the principal amount to customers account.

N.B. High rate of interest shall ONLY be applicable for deposits above K50,000/-
subject to Head office approval.

** Subject to change from time to time at the sole discretion of the Bank.