Frequently asked questions


Is there a limit to the amount invested in a savings bond ?

The amount of the investment must be at least 2,000,000 MGA. There is no upper limit.

Who can subscribe to a savings bond ?

Any BNI account holder.

How long is the investment ?

The investment is for 1 to 12 months.

Can I use the savings bond as security ?

Yes, a savings bond can be pledged

What is a savings bond ?

A savings bond is a bond payable at maturity.

Can I subscribe to a savings bond for a period of 2 years ?

The limit for subscribing to a savings bond is 12 months (renewable)

Can you collect the interest on a SB when you subscribe ?

If the term is less than or equal to 2 years, interest may be collected when you subscribe.

How is the rate set ?

The interest rate varies depending on the amount and period of the bond.


What are the fees to pay on a Corporate Savings Account ?

None. No charge will be made for debits and/or credits to a Corporate Savings Account.

What are the terms & conditions for opening a corporate savings account ?

To open a Corporate Savings Account, you must have a BNI-MADAGASCAR current account. The deposit and minimum balance is 50,000,000 MGA.

Are my savings frozen ?

No. You may withdraw your Savings at any time with the interest thereon.

Are there any fees charged to my current account as part of my Corporate Savings Account ?

No. No charge will be levied when debiting a company’s current account to credit a company’s savings account.

When is the interest paid ?

The interest is paid into the account at the end of each calendar quarter


How long is the investment ?

The investment period is 1 to 12 months.

What is a Term Deposit ?

A term deposit is an investment account in which the holder cannot use the amount subscribed before expiry of a period determined at the deposit date.

I only have a savings account, can I take out a term deposit ?

No, a term deposit requires a current account.

Can I receive an advance on a Term Deposit?

The Bank agrees to make an advance payment before the investment matures, with a penalty in the form of a reduced interest rate.

Can I use my term deposit as collateral ?

Yes, a Term Deposit is collateralized.

In an emergency, am I allowed to withdraw the money I invested in a TD before the due date ?

You can get an advance on the investment.

How is a Term Deposit repaid?

It is repaid at maturity by an automatic transfer to the subscriber’s current account. Repayment consists of the capital and the interest, net of income tax.