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Product Offerings

TRANSACTOR ACCOUNTS

SIYAKHULA SAVINGS ACCOUNT
Target Market Children ranging from the age of 6 years to 21 years
Minimum Balance E10.00
Monthly Maintenance Fees None
Deposit Fees NIL
Withdrawal Fees 1/2 prevailing rates
Debit Card Available with unlimited transactions
Account Opening Requirements Requirements

1. Parent / Guardian's ID (National ID, Passport) and child's ID / Birth Certificate and Passport Size Photo.
2. Residential address verification document (KYC)
3. Account activation amount which is E10.00 or more

Overdraft Not allowed (penalty charges apply if account is overdrawn)
UMLOLONGI STUDENTS ACCOUNT
Target Market Students aged between 17 and 25 years (if above 25 there should be proof that student is still registered with tertiary institution).
Minimum Balance E10.00
Maintenance Fees E50.00 annually (bullet charge)
ATM Deposit Fee Free
ATM Withdrawal Fees Free
Debit Card Available with unlimited transactions
Account Opening Requirements

1. National ID
2. Proof of Residence (KYC)
3. Student ID or proof of registration for current year
4. Account activation deposit E10.00

Overdraft Not allowed (penalty charges apply if account is overdrawn)
UMLAMULI SAVINGS ACCOUNT
Target Market Low income earners E2,500.00 or less per month
Minimum Balance E30.00
Deposit Fees Free
Withdrawal Fees Prevailing commercial rates
Debit Card Available with unlimited transactions
Acc. Opening Requirements

1. National ID or Passport
2. Residential address verification document (KYC)
3. Account activation amount which is E50.00 or more.

Standing Orders and Debit Orders Allowed
Overdraft Not allowed (penalty charges apply if account is overdrawn)
ORDINARY SAVINGS ACCOUNT
Target Market Medium to High income earners E2,500.00 or more per month
Minimum Balance E100.00
Deposit Fees Free
Withdrawal Fees Prevailing commercial rates
Debit Card Available with unlimited transactions
Acc.Opening Requirements 1. National ID or Passport 2. Residential address verification document (KYC) 3. Account activation amount which is E130.00 or more.
Standing Orders and Debit Orders Allowed
Overdraft Not allowed (penalty charges apply if account is overdrawn)
CURRENT ACCOUNT
Target Market Medium to High income earners E4,000.00 or more per month
Minimum Balance E0.00
Deposit Fees Free
Withdrawal Fees Prevailing Commercial Rates
Debit Card Available with unlimited transactions
Acc. Opening Requirements

1. National ID or Passport
2. Residential address verification document (KYC)
3. Account activation amount which is E500.00 or more.

Standing Orders and Debit Orders Allowed
Overdraft Allowed after application approval (minimum gross salary must be E10,000.00)
Credit Reference Clean ITC Report

INVESTMENT ACCOUNTS

INSIKA SAVINGS ACCOUNTS
Target Market Medium Term Investors (Groups and Individuals)
Term of Saving 12 Months (Automatically renewable)
Minimum Balance (Activation) E200.00
Monthly Maintenance Fees NIL
Transaction Fees 1. Free deposits 2. 1 free annual withdrawal 3. Other withdrawals charged commercial prevailing rates minimum E100.00
Limit on Deposits Minimum E50.00 per month
Limit on Withdrawals One free per year
Debit Card N/A
Account Opening Requirements 1. National ID or Passport 2. Residential address verification document (KYC) 3. Account activation amount which is E200.00 or more.
Passbook Available
Loan Eligibility Account cannot be pledged as collateral
INSIKA PRIME SAVINGS ACCOUNT
Target Market Medium Term Investors (Groups and Individuals)
Term of Saving 24 Months (Automatically renewable)
Minimum Balance (Activation) E500.00
Monthly Maintenance Fees NIL
Transaction Fees 1. Free deposits 2. 1 free annual withdrawal 3. Other withdrawals charged commercial prevailing rates minimum E100.00
Limit on Deposits Minimum E100.00 per month
Limit on Withdrawals One free per year
Debit Card N/A
Account Opening Requirements 1. National ID or Passport 2. Residential address verification document (KYC) 3. Account activation amount which is E200.00 or more.
Passbook Available
Loan Eligibility Up to 80% of account balance can be pledged as collateral
SIPHEPHELO SAVINGS ACCOUNT
Target Market Long Term Investors (Groups and Individuals)
Term of Saving 36 Months (Automatically renewable)
Minimum Balance (Activation) E1,000.00
Monthly Maintenance Fees NIL
Transaction Fees 1. Free deposits 2. 1 free annual withdrawal 3. Other withdrawals charged commercial prevailing rates minimum E100.00
Limit on Deposits Minimum E200.00 per month
Limit on Withdrawals One free per year
Debit Card N/A
Account Opening Requirements 1. National ID or Passport 2. Residential address verification document (KYC) 3. Account activation amount which is E200.00 or more.
Passbook Available
Interest Rate
E1000-E10 000 : Prime less 6%
E10001-E100 000: Prime less 5.5%
Above E100 000: Prime less 4.5%
Loan Eligibility 1. Up to 75% for clients who do not get paid salaries through the Bank
2. Up to 90% for those who get salaries through the Bank.
LITSALA NOTICE ACCOUNT
Target Market Long Term Investors
Minimum Balance (Activation) E2,000.00
Notice Period 30, 60, 90, and 120 days
Monthly Maintenance Fees NIL
Transaction Fees 1. Deposits free
2. Commercial rates for withdrawals
Limit on Deposits Minimum E100.00 per month
Limit on Withdrawals Notice to be given in writing before withdrawal
Debit Card N/A
Account Opening Requirements 1. National ID or Passport 2. Residential address verification document (KYC) 3. Account activation amount which is E2,000.00 or more.
Passbook Available
Interest Rate 1. Interest rates will vary according to contracted period.
2. Interest rates will also vary with principal sums deposited.
Loan Eligibility Up to 80% of account balance can be pledged as collateral
FIXED DEPOSIT
Target Market Companies and individuals with excess funds that will not be required for utilization for a specific period.
Minimum Balance (Activation) E10,000.00
Notice Period 3 months, 6 months , 12 months, 24 months
Monthly Maintenance Fees NIL
Transaction Fees NIL
Limit on Deposits Once off deposit of E10,000.00 or more. No additional deposits can be made into the account.
Limit on Withdrawals 1. No withdrawals can be made until lapse of fixed term
2. A penalty fee of prevailing pricing manual will be charged for withdrawals before maturity. 3. Un-renewed balances will be automatically paid to Liquidation account on maturity date (Ordinary Savings Account).
Debit Card N/A
Account Opening Requirements 1. National ID or Passport 2. Residential address verification document (KYC) 3. Depositors must run a parallel Ordinary Savings Account 4. The depositor at inception will contract funds for the fixed term period. 5.Fixed deposits are classified as long term 6.The fixed term period ranges are 6, 12 and 24months.
FDR Certificate Fixed Deposit Receipt (FDR) will be issued to customer
Interest Rate 1. Paid on maturity depending on account balance and term of deposit.
2. Interest rate may not be altered in line with the market when other rates are reviewed.
Loan Eligibility Up to 80% of account balance can be pledged as collateral and debits are stopped from account