Time Deposit
The Term Deposit is a risk-free and profitable investment product that allows the saver to lock their funds for a specified period at a pre-agreed rate.
ADVANTAGES
Attractive interest rate.
Freedom to choose the duration and amount of the deposit;
Risk-free savings, with remuneration known in advance and guaranteed upon subscription;
The saver can decide to receive an immediate income supplement by opting for the payment of interest into their checking account.
CHARACTERISTICS
Contract duration: Minimum of three (3) months
Minimum initial deposit: 5,000,000 XOF
Remuneration of the account is determined based on the contract duration and amount.
| 3 to 6 months | 6 months 1 day to 12 months | 12 months 1 day to 24 months | 24 months 1 day and more | |
|---|---|---|---|---|
| Less than or equal to 10 million | 3.25% | 3.25% | 3.35% | 3.45% |
| (10+n) million – 30 million | 3.35% | 3.40% | 3.45% | 3.50% |
| (30+n) million – 100 million | 3.50% | 3.75% | 4.00% | 4.25% |
| (100+n) million – 200 million | 3.75% | 4.00% | 4.25% | 4.50% |
| (200+n) million – 350 million | 4.00% | 4.25% | 4.50% | 4.75% |
| (350+n) million – 500 million | 4.25% | 4.50% | 4.75% | 5.00% |
| More than 500 million | To be negotiated with the treasury | |||
NB / These rates are subject to revision according to market trends.
Mode of calculation and payment of interest
Interest is calculated at the end of the contract and deposited into the client's checking or savings account. The client also has other options (periodic payment (monthly, quarterly, etc.) into the checking or savings account or capitalization of accrued interest).
Taxation
Interest is subject to income tax on receivables (IRC) according to the current scale. Withholding tax on accrued interest will be applied, except in cases of exemption.