Botswana Building Society (“BBS”), led by its Managing Director Mr. Pius Komane Molefe, has been consulting Members across the country on the plan to commercialise BBS.
Special Fixed Deposit Account
- As a way of encouraging a high hit ratio, a competition will run parallel with the launch campaign of this product, where every twelve (12) months one lucky customer will win BWP20 000.00.
- The campaign will run for 36 months.
- A minimum deposit of BWP1 000 000.00 (One Million pula) is allowed.
- The account is open to both citizens and non-citizens who are resident in Botswana.
- Commercial entities can also invest in the product.
- The depositor has an option to rollover both principal plus interest at maturity and be treated as new deal.
- The depositor may withdraw interest only and reinvest principal or part thereof upon maturity.
- Early termination of contract will result with forfeiture of all accrued interest.
- Depositors may apply for short term loans against their investment up to 75% of its value and shall be payable within the duration of the contract i.e. 12 months.
- The facility may be closed immediately in the event of death of the depositor.
- Proceeds may be passed on to a third party who also has the opportunity to reinvest.