Finance Bank Zambia Ltd

Welcome to Finance Bank Zambia Limited

PRODUCTS AND SERVICES

ACCOUNTS SERVICES

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CURRENT ACCOUNTS

These are non-interest bearing accounts which allow all customers both personal and corporate, to make use of funds on their accounts on demand to effect frequent payment by cheque.

Overdraft facilities can be arranged and provided
Payment by cheque for goods and services
Easy monitoring of your account transactions through the provision of statements
Payment of accounts to third parties

For individual customers, a current account enables you to draw cash at any of our Finance Bank Branches. References are required from your employer, bank or other reputable individuals or organizations

SAVINGS ACCOUNTS

A savings account is open to anyone; adult, minor or business enterprise. To open such an account a customer simply need to provide a specimen signature or if unable to sign, a thumbprint impression.

With the introduction of our online system, a branch will soon be able to cash withdrawals from other branch accounts, provided only the withdrawal slip is presented by the owner of the account and their specimen signatures are on-line. Withdrawals other than these may only be made at the branch where the account is kept unless prior arrangements have been made by the customer to make cash withdrawals elsewhere. Withdrawals in excess of the balance are not permitted and withdrawals must be presented together with the relevant documentation.

A minimum balance of ZMK50,000 must be maintained at all times.
A monthly charge in line with the Bank's tariff.

FIXED DEPOSIT ACCOUNT

If a customer has no immediate need of funds, this excess liquidity may be placed on a Fixed Term Deposit at a fixed rate of interest for a pre-determined period usually of from two weeks to twelve months duration. Minimum requirement for this type of account is ZMK500,000. Interest is paid on maturity and customers may re-invest funds at the expiry of the fixed period until such time as the funds are required. Such accounts may also be used as security in the event a customer wishes to borrow money from the bank. There are no charges for the use of these accounts.

Short Term Deposits come in two categories.

NOTICE DEPOSIT ACCOUNT

These types of deposit account require the specified amount of notice to be given to the Bank before funds are uplifted or withdrawn. The notice periods can vary from 7 days to 60 days with an accompanying application of interest rate. The minimum deposit required for these accounts is ZMK750,000. Interest is paid quarterly on these accounts. Any change in interest rates is advertise in the local press and through displays in our banking hall. Accounts may be used as security if a customer wishes to borrow from the Bank. Accounts facilities lie at the heart of clearing bank operations and Finance Bank Zambia Limited offers a broad selection to appeal to all clients with money to be securely lodged or invested. These accounts are of special value to small business owners for Finance Bank Zambia Limited takes great pride in supporting its clients expand their businesses through more efficient cash management opportunities.