Special Demand Deposit

Special demand deposit is a checking account in which interest is calculated at a rate less than the minimum interest rate of saving account set by the NBE.

Additional Features

• The account opening customer should not be in the delinquent list.
• No restrictions on the number and amount of deposits & withdrawals.
• It can be opened and/or operated by a legal agent in the name of principal, against producing a power of attorney.
• Bank statement issued on monthly basis.

Benefits

• It is very liquid and interest bearing
• It facilitates/enables to carry out effective business transactions.
• Holders of this account can withdraw from their own account without any restrictions.
• It enables you to make a direct payment to your creditors by issuing checks.
• Enables you to make multi-locational fund transfers.