Term Deposits, which are meant specifically for corporate bodies are non- certificated and interest bearing deposits issued by a bank as an acknowledgement of its debt with the bearer and a promise to pay the debt and the accrued interest at a fixed date.
Term Deposits are exclusively nominative.

Advantages

•  Enables companies to make interest-bearing savings.

•  You build up provisions against future uncertainties or to best control your cash assets.

Key Features

• Minimum amount: CFA 10 000 000 Frs.

•  Minimum period : 3 months, Maximum period: 2 years.

•  Interest rates are negotiable.

•  Interest are payable at maturity date.

Taxation

Interests are subject to the Proportional Tax on Income Floating Capital - PTIFC to the tune of 16.5%..