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Name
Corporate Time Deposit Account
Introduction
Corporate time deposit refers to the deposit made by corporate customers with the temporarily idle funds, and the deposit term shall be specified in the contract between the corporate customer and Bank of China. When the deposit is withdrawn upon maturity, the interest shall be calculated in accordance with the interest rate agreed on the deposit date. Bank of China Zambia Limited accepts corporate time deposit in currencies such as ZMW, USD, CNY and so on.
Features
1. Higher interest rate than saving deposit
2. Four deposit terms for customers to choose: one months, three months, six months and one year.
3. Free account management fee.
4. Full withdrawal in advance is available for customers as needed.
Target Customers
Corporate Customers
Procedure
Corporate customers shall submit the written application for opening a time deposit account, with a certain amount of money deposited in it.
Required Documents
For customers who have opened the current accounts at Bank of China Zambia Limited, no extra documents are required.
Tips
Advance withdrawal is allowed. However, Bank of China Zambia Limited will not pay any interest if the withdrawal is made within three month after the deposit date.
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