The FBNBank Call Account is an account which funds can be placed in for an indefinite period and may be withdrawn on demand at any time. This account is ideal for organizations or individuals who normally will have surplus funds on their current accounts, though have future use for it, are not very certain of the time. They might want to place these funds on call account, earn interest but not pay any penalty when investment is recalled.
Features
- No minimum or maximum balance on Call account
- Sweeping Arrangements – Linked to current account with Automatic Transfers from or to current account when the balance exceeds or falls below the minimum balance. This is done with a Standing Instruction at a daily frequency
- Interest is calculated on the account balance daily and paid monthly
- Tiered interest rates – the higher the balance on the call account, the higher the interest earned by customer
Benefits
- Amount can be terminated at customer’s discretion without any penalty
- Attractive interest rates
Required Documentation
- You will need to hold a current account with FBNBank
Who can Apply?
- Organizations
- Institutions
- High Net worth Individuals
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