This is an account for investors and members who would like to deposit their cash and/or dividends in an interest earning account while being able to access the invested funds on demand.
Features
- Invest for a specified period of time and receive a monthly interest payment
- Interest earned can be paid monthly, quarterly, half-yearly or annually
- Annual interest is computed as 70% of the prevailing Central Bank Reference rate plus
- 0.2% for an investment period of up to 6 months &
- 0.5% for an investment period of more than 6 months respectively
- Investment amounts may be paid in instalments or through a lump sum
- You can use money in your MIP account to secure/guarantee loans
- You can increase your investment ANYTIME
- You may access the principal amount at the end of the investment period
- Funds withdrawal notice is 7 working days