Do you want to know the current interest rate on fixed deposit at CBG Bank in Ghana? Then this banking guide is all you need, as it will provide you with all the necessary information on the interest rate for a fixed deposit at CBG.
CBG Ghana has been expanding its network since its introduction in Ghana, serving many Ghanaians with the best banking experiences.
Consolidate Bank Ghana operates many accounts, including the investment account, current account, and savings account.
For this guide, we will center our attention on their fixed deposit account and how much an individual can earn as interest if they open one.
A fixed deposit account provides interest rates that exceed the one that a normal savings account can generate.
It is available to anyone, whether an individual or a group provided you first qualify to register for the fixed deposit account with the Consolidated Bank.
What Is the Interest Rate For Fixed Deposit in CBG
The fixed deposit interest rate at CBG is tiered. This implies that the amount deposited and period significantly affects the interest rate.
With Consolidated Bank Ghana, the fixed deposit interest rate is calculated on a monthly basis.
Below are the various interest rates allocated for the various deposit amount for their periods.
100 – 1,000
1,001 – 10,000
10,001 – 50.000
50,001 – 100,000
100,001 – 500,000
1,000,001 – 5,000,000
What Is The Minimum Amount To Earn Interest On Fixed Deposit Account
The minimum amount for CBG fixed deposit is GHS100.00.
This means before you can earn interest on your fixed deposit account at CBG, you need not have less than GHS 100.00 in the fixed deposit account.
What Is The Maximum Duration For CBG Fixed Deposit Account
Twelve (12) months is the longest period for Consolidated Bank fixed deposit account. This does not necessitate you to invest for twelve (12) months. Aside from this month, you can choose any of the durations for a fixed deposit account at CBG.
Can I Cancel My Fixed Deposit Account
Yes, Consolidated Bank Ghana allows you to cancel your fixed deposit account with them.
However, you will need to inform the appropriate authorities at the CBG branch where the account was opened before disinvestment can be done.
Can I Rollover My Investment At CBG
Yes, you can rollover your account at the end of its investment duration. To do this, you will need to inform the appropriate authorities at the Consolidated Bank branch before the end of the investment period.