Negotiable Certificate of Deposit (NCDs)

  • This a deposit backed by $30 million ABCH group guarantee
  • The deposit is negotiable with the Bank at any time of its tenor. The deposit may be sold to the Bank.
  • The Bank publishes NCD buy and selling rates daily through the market watch publication.
  • NCDs may be issued in both Kwacha and US-Dollars
  • The interest rates applicable on NCDs are linked to the current treasury bill rates
  • Principal tenor of the deposit may run from 7 days to 365 days
  • Income on NCDs is subject to Withholding Tax of 15% and 1% medical levy.

 

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