Call Deposits

These are deposits accepted for an unspecified period of time. Payable on demand from the client. Attract varying interest rateswhich are market related.Interest rate can change downward or upward at any given time in line with changes in the market rates. Interest is payable on the last day of the month

 

Target Clientele

High Net worth individuals and corporates

 

Fixed Deposits

 

These are deposits fixed for specified periods ranging from 7days to 365 during which,undisturbed by any withdrawals, your money earns you the highest returns. Standard investment periods are 7,14,21,30,60,90,120,150,180 ad 365days. Interest rates on the fixed deposits are higher than the call rates. Interest rate is fixed over the entire period of the investment. Interest is payable on maturity

 

Negotiable Certificate of Deposit

 

NCDs are certificates issued by Agribank as evidence of deposits. They are issued for a specified period and at a specific rate.They are negotiable instruments which makes them attractive to an investor as an alternative to money market placing.Yield on the NCDs is usually lower than that of fixed deposits.On maturity NCDs are payable to the bearer hence uttmost care must be exercised in taking custody of them. NCDs can be issued for periods between 7 to 180 days

 

Treasury Bills

 

They are short term negotiable instruments issued by the government of Zimbabwe though the Reserve Bank of Zimbabwe to finance Government Short Term requirements. They are issued for periods ranging from 30 to 365 days. TBs are considered as the latest risky of all treasury products as they are guaranteed by government. Yield on TBs is usually lower than the other Treasury products

 

Agribank is a registered commercial bank in terms of the Banking Act of Zimbabwe (Chapter 24:20) and is subject to the supervision of the Reserve Bank of Zimbabwe. The Bank is a loan granting and deposit taking agricultural development financial institution.
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