Term Deposit (TD) is an investment product for the members of VLCCUL with a longer investment time horizon that offers a secure and reliable way to grow your savings over a fixed period while earning competitive interest rates. It is an investment of a fixed amount for a fixed period i.e. 91, 182, 365, or longer days, and at a predetermined fixed rate. With guaranteed returns, flexible term options, and no market risk, term deposits provide peace of mind and stability for your financial future.
Flexible Investment Periods
Choose the term that works best for your financial goals and timeline.
Features
Guaranteed Returns
Your investment grows at a predetermined rate with assured returns at maturity.
Competitive Interest Rates
Earn attractive interest rates that outperform traditional savings accounts.
Fixed Term
Lock in your rate for the entire term period, protecting you from market fluctuations.
Flexible Term Options
Choose from multiple term lengths (91, 182, 365+ days) to match your financial goals.
No Market Risk
Your principal is safe and secure, unaffected by market volatility or economic changes.
Requirements
PROTECTION FOR YOUR SAVINGS
Credit Unions in Ghana are covered by the Deposit Protection Scheme (stabilization fund) which is administered by the CUA. This is a scheme that can provide compensation to depositors if the credit institution is forced to go out of business. Currently, with the scheme, Credit Unions are required to reserve an average of about 0.02% of members' total savings.
With this, members can rest assured their savings and all interests earned are secured.
SAVINGS POLICIES
The savings balance of any one member shall not exceed 20% of the total savings of the Union or as determined by the Board of Directors from time to time.
Savings cannot be withdrawn if they are frozen to guarantee a loan neither can savings be withdrawn if the member's indebtedness is greater than the member's savings.
Interest on savings shall be determined by the Board of Directors from time to time.
Start Growing Your Savings Today
Open a Term Deposit account and enjoy guaranteed returns with complete peace of mind. Your financial future starts here.
Open Term Deposit