Guaranty Trust Bank Fixed Deposit Account and Interest Rates – When you have excess cash in your bank account and don’t know what to do with it, you can open a Guaranty Trust Bank Fixed Deposit Account. That way, you’ll get higher interest than the rate you get from a savings account or even with your current checking account! With Guaranty Trust Bank Fixed Deposit Account Interest Rates, you can invest in CDs that range in terms of duration and rates, making it easy to find one that fits your needs and earning potential.
What is Guaranty Trust Bank Fixed Deposits?
A Guaranty Trust Bank fixed deposit is a type of savings account where you agree to keep your money in the account for a set period of time, usually between one and five years. In return, the bank agrees to pay you a set interest rate. The main benefit of a fixed deposit is that it offers a higher interest rate than a regular savings account. This means you can grow your money faster. Another benefit is that you know exactly how much interest you will earn, so you can plan your finances accordingly.
Guaranty Trust Bank Fixed Deposit Features & Benefits
-A minimum deposit of N100,000 is required to open a GTBank Fixed Deposit account.
-To earn interest on your deposit, simply maintain the required minimum balance for the entire month.
-Interest is paid monthly and can be credited to your GTBank account or withdrawn in cash.
-There are no penalties for early withdrawal from a GTBank Fixed Deposit account.
-Account holders must have attained 18 years of age.
– GTBank offers competitive rates of between 7.76% to 9% interest rate per annum depending on the amount and as well as flexible terms (terms range from 30 days to 180months).
Are there any risks in Guaranty Trust Bank’s fixed deposit?
Before you open a Guaranty Trust Bank fixed deposit account, you should know that there are some risks involved. The most common risk is that the interest rate could change and you could lose money if the market rate goes up. Additionally, if you need to access your money before the maturity date, you may be subject to an early withdrawal penalty. Another thing to keep in mind is that Guaranty Trust Bank is a Nigerian bank, so there is always the potential for political or economic instability in Nigeria that could affect your investment. For this reason, it’s recommended that you invest in a large amount of Guaranty Trust Bank fixed deposits rather than small amounts.
Why Invest in a Guaranty Trust Bank fixed deposit?
A Guaranty Trust Bank fixed deposit account is a great way to save money and earn interest on your deposited funds. The interest rate is fixed, so you know exactly how much you will earn on your investment. Plus, your deposited funds are guaranteed by the Nigerian government up to a certain amount. So, if you are looking for a safe and secure way to save money, a Guaranty Trust Bank FD account is a great option. To open an account, visit any of our branches nationwide or apply online today! We offer competitive rates on all deposits.
What’s The Guaranty Trust Bank fixed deposit Account’s Current Interest Rate?
Guaranty Trust Bank offers a competitive interest rate on their fixed deposit accounts. The current interest rate for Guaranty Trust Bank fixed deposit account is around 7.76% for a 30days term and 9% for a 180days term. To open an account, you’ll need to have a minimum balance of NGN 100,000.
How long should I invest in Guaranty Trust Bank fixed deposit?
The beauty of a Guaranty Trust Bank fixed deposit is that you can choose how long to invest. The minimum investment period is usually 30 days, but you can invest for up to 180days if you want. The interest rate will depend on how long you choose to invest.
Final Word on Guaranty Trust Bank fixed deposit
Guaranty Trust Bank offers a wide range of fixed deposit products that provide great value for money. Guaranty Trust Bank Fixed Deposit interest rates are very competitive and offer excellent returns on your investment. The bank also offers a number of other benefits such as online banking, 24/7 customer support, and a wide network of branches and ATMs.
For more information please click on Guaranty Trust Bank fixed deposit and interest rate webpage