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Questions fréquentes
SAVINGS CERTIFICATE
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.
CORPORATE SAVINGS ACCOUNT
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
TERM DEPOSIT
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.