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Goal Save Account

At a glance

The account is designed to encourage goal specific savings for events such as weddings, holidays, furniture purchases, education fees, contract gratuities etc. The minimum opening deposit of K50, 000 is needed. Through this account FDH assists it’s customer to save by utilizing a Stop Order Payment or by deducting a monthly deposit at source. This makes saving an automatic monthly venture.

Full details

The account is designed to encourage goal specific savings for events such as weddings, holidays, furniture purchases, education fees, contract gratuities etc. The minimum opening deposit of K50, 000 is needed. Through this account FDH assists it’s customer to save by utilizing a Stop Order Payment or by deducting a monthly deposit at source. This makes saving an automatic monthly venture. The facility best serves customers who wish to save for a specific goal with the aims of withdrawing the funds once it has been achieved. This product also suits employees who are on contract gratuity and have funds available to invest. The interest rate on this account will be determined by the prior year headline inflation rate plus 1%, but will not exceed the ruling RBM Bank rate minus 5%. The ruling RBM rate minus 5% shall be the maximum applicable rate at any point in time.

The customer can access up to 80% of the account balance as an immediate loan. The saving period is flexible depending on the customer’s saving goal. Early termination attracts a penalty of reduced interest rate from the date of investment. The transaction fees for this account are levied on a quarterly basis

Terms & conditions

You can apply if you are 18 years of age or over pop into your local branch: Find your nearest branch or send us an enquiry 

 

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You can download and print an application form for many of our products. Mail the completed form to: register@fdh.co.mw

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Umoyo House, No. 8 Victoria Avenue North, Blantyre, Malawi +2651820219 info@ fdh.co.mw