CMB SAVINGS ACCOUNT
This is an interest-bearing deposit account that provides a modest interest rate of 3%. It however limits the number of withdrawals you can make from your savings account each month to four withdrawals, and we may charge fees unless you maintain a monthly balance of Le 30,000.00. We do not provide cheque books with savings account. Since savings accounts pay interest; it is more financially advantageous to keep surplus funds in a savings account and attracts zero Commission on Turnover (COT).
CMB HOME SAVE ACCOUNT
This is an interest bearing deposit account that encourages customers to develop a saving habit to acquire a house of their own. It requires a minimum balance of Le100, 000.00 and attracts a free commission on turnover. Like other savings account, it operates without the use of a cheque book.
CMB CURRENT ACCOUNT
With CMB current account, amount can be deposited and withdrawn at any time without giving any notice. It is also suitable for making payments to creditors by using cheques. Cheques received from customers can be deposited in this account for clearing but this account does not attract interest. It attracts a 4 per Mille COT which is negotiable.
FOREIGN CURRENCY ACCOUNTS
The initial deposit for individual’s foreign currency account is the equivalent of $300.00, and $500.00 for companies. It attracts a free account maintenance and commission on turnover. The minimum balance on this type of account is the equivalent of $100.00 for individuals and $200.00 for companies. It attracts negotiable interest rate for balances in excess of $50,000.00.
CASH MANAGEMENT/CALL DEPOSIT ACCOUNT
We will be ready to establish a special interest-yielding Call Deposit Account at your request where idle funds from your current account will be periodically transferred. This may automatically apply whenever your current account balance gets to a certain limit; say Le 500,000,000.00 (Five Hundred Million Leones) credit and the following interest rate will apply:
INTEREST ON FIXED DEPOSIT
We are prepared to pay interest up to 15% per annum dependent on the amount and tenure for funds placed on fixed deposit. The tenor varies from one month to one year. This can be negotiated from time to time in line with money market conditions and/or Bank of Sierra Leone’s monetary policy.