Fixed Deposit Accounts

If you plan on saving cash for the future or on a long term basis, Guaranty Trust Bank Fixed Deposits offer the best options for you and your Business.

A Fixed Deposit is an investment savings account with a defined rate of interest for a certain period of time. The rate and interest earned is fixed for the said period.

A fixed deposit account allows you to deposit your money for a set period of time. In return, this earns you a higher rate of interest than a savings account.

Individuals and organizations with the intention of retaining their savings for a fixed period for some future use are well suited to open a fixed deposit account.

A Fixed Deposit account is different from a Savings Account because it earns you a higher rate of interest. Secondly, as the name suggests, the period of the deposit is fixed at the time of making the deposit, and unlike a Savings Account you cannot withdraw money from the account until the fixed time is reached. If you withdraw amounts from the account before the fixed period, you normally lose some amount of your Interest as a form of penalty.

The Tenure of a Fixed Deposit is the period for which you choose to put your money into the Account.

The following documents are required to open a Fixed Deposit Account:

• Proof of identity
• Introduction from a present account holder in the same bank

To open a Fixed Deposit Account account, download the relevant application form below, complete it and send to any of our branches.

Fixed Deposits Account Opening Form