Sterling Bank Bank Charges
Sterling Bank Bank Charges And Rates
DEPOSIT RATES

Interest:

  • Interest rates are indicative and may change without notice. Please confirm with our branch when making placements.
  • Interest is subject to a 20% withholding tax.

Penalty:

  • Pretermination Penalty = Agreed Rate x (Days Lapsed/Agreed Term)
  • If preterminated within the first half of the term, interest rate shall be reduced to 25% of the stipulated rate, or the prevailing savings account rate, whichever is higher.
  • If preterminated within the second half of the term, interest rate shall be reduced to 50% of the stipulated rate, or the prevailing savings account rate, whichever is higher.

If preterminated before the maturity date, the interest rate will vary, and the corresponding documentary stamp tax shall be deducted from the proceeds. Please contact your branch of account for the computation.

Interest:

  • Interest rates are indicative and may change without notice. Please confirm with our branch when making placements.
  • Interest is subject to a 20% withholding tax.

Penalty:

  • Pretermination Penalty = Agreed Rate x (Days Lapsed/Agreed Term)
  • If preterminated within the first half of the term, interest rate shall be reduced to 25% of the stipulated rate, or the prevailing savings account rate, whichever is higher.
  • If preterminated within the second half of the term, interest rate shall be reduced to 50% of the stipulated rate, or the prevailing savings account rate, whichever is higher.

If preterminated before the maturity date, the interest rate will vary, and the corresponding documentary stamp tax shall be deducted from the proceeds. Please contact your branch of account for the computation.