Barclays offers upfront fixed deposit account
Friday, October 30, 2015
An upfront-fixed deposit is a financial instrument by which a bank depositor agrees to lodge a fixed sum of funds with the bank for a fixed period at a fixed rate of interest.
The money is usually fixed at the time the deposit is made. Speaking to BusinessWeek, Barclays’ retail client relations manager, Brighton Banda said they decided to come up with the concept after realising that there is a growing demand for fixed deposits accounts in the country. “This desire was accompanied by a strong desire for more flexibility by customers and this required us as a bank to re-look the financial engineering of the product within our portfolio for all our customers,” he said. Through this account, customers can save a minimum of P100,000 for a period of 12 to 36 months and get a minimum of three percent interest pay. According to Banda, this account target pensioners, as it will help them take care of emergencies without eroding their saved capital.
The recent disclosure by the IEC that 2,513 registrations have been turned down due to various irregularities should prompt all Batswana to meticulously review the voters' rolls and address concerns about rejected registrations.The disparities flagged by the IEC are troubling and emphasise the significance of rigorous voter registration processes.Out of the rejected registrations, 29 individuals were disqualified due to non-existent Omang...