In deposit terminology, the term call deposit refers to a specific type of interest bearing investment account that allows a person to withdraw their money from their account without a penalty. This is what is known as on demand withdrawals without prior notification to the bank. The NMB Call Deposit Account can be linked to the business current account to create a seamless movement of funds between the accounts.
The Call Deposit Account has the following features:
- Tiered interest rate structure - the higher the account balance the higher the interest earned
- No minimum operating balance
- Immediate access to funds
- Interest is calculated daily and paid monthly
- Intraday movement of funds
- Can link call deposit account to a business current account
Our clients will enjoy the following benefits:
- Investment opportunities without locking in funds
- Immediate access to funds
- Access to other products and services
Who would benefit?
Target market for the Call Deposit Account is all clientele who are characterized with excess liquidity and have a need to invest with the ability to utilize the funds on demand. The target market includes:
- Pension funds
- Insurance companies
- Oil & gas companies
- Large corporates, etc.
