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Cumulative Account

CUMULATIVE FIXED DEPOSIT ACCOUNT

This is a customized account tailored for customers whose deposits are fixed for the agreed period of time subject to non withdrawals before elapse of the period, moreover  these customers are allowed to keep on depositing more funds to this account while the agreed terms of the period and the interest remain unchanged. When a customer wants to deposit more funds, he/she is required to present Fixed Deposit Receipt (FDR) of the original contract and the interest is accrued and he/she will received a new receipt maintaining the same interest rate and period prior agreed.

Cumulative Fixed Deposit Account may be operated by;

  • Individuals.
  • Companies.
  • Sole Proprietorship.
  • Religious Institutions.
  • Learning Institutions.
  • Societies, Clubs and Associations.

Requirements;

  • Signatory’s Identify Card or Passport.
  • Two colored passport sized photographs.
  • Letter of  introduction from local Government authorities or utility bill from DAWASCO,TANESCO,LUKU or land rent receipt.

Benefits;

  • Reliable and fast services.
  • Guaranteed return on your investment.
  • Maximum investment amount unlimited.
  • It is available on both local and foreign currencies.
  • Allows immediate borrowing up to 80% of your savings.

*MKCB: Mkombozi Commercial Bank Plc.

*Terms and conditions apply.