The time deposits (fixed accounts) are designed to enable the depositor to earn interest for money deposited for a fixed period of time. Invest your idle funds into this high yielding investment account. KCBL offers this time deposit account with very attractive interest rates from three to twelve month periods. KCBL Fixed Time Deposit Account is both for Personal and Joint.

Features
•    Minimum opening balance Tshs 500,000
•    Maturity periods from Three (3), six (6), nine (9) and twelve (12) months
•    Restriction on withdrawal.
•    Certificate of Time Deposit (CTD) will be issued.
•    No account maintenance charges.
•    A small amount fee will be charged on closure of the Account.

Benefits
•    Easy to open and invest.
•    Highly competitive interest rates
•    Wide choice of investment maturities.
•    Free cash transfers within the bank upon maturity.

Requirements

For INDIVIDUALS and SOLE PROPRIETORS:
•    Three (3) passport size photograph.
•    Copy of valid driver’s license or voter’s card or passport or utility bill with name of  the prospective customer.
•    Introduction letter from local government.
•    Copy of company/Business license and copy of business name registration.
•    Residence / work permit for non-residents this applies for Individual customers.

For CO-OPERATIVES (SACCOS, RCS and JOINT VENTURES)
•    Formal Application letter to open an Account.
•    Three (3) passport size photograph for each signatory
•    Copy of new driver’s license or voter’s card or passport or utility bill with name of  each signatory.
•    Introduction letter from local government for each signatory.
•    Memorandum and Articles of Association and Certificate of Registration.
•    Minutes/ Board Resolution to open bank account.

For OTHER ORGANIZATION (NGO’s, Associations, Trustees, Schools, Churches and others)
•    Formal Application letter to open an Account.
•    Three (3) passport size photograph for each signatory
•    Copy of valid driver’s license or voter’s card or national identity or passport  or utility bill for each signatory.
•    Introduction letter from local government authority for each signatory.
•    Memorandum and Articles of Association and Certificate of Registration.
•    Minutes/ Board Resolution to open bank account.

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