Telea Fixed Deposit is a time deposit account that allows once-off fixed investments by customers who wish to earn interest higher than ordinary savings and Ngatana Subscription Deposits.

Interest on Telea Fixed Deposit is higher than the savings book's interest. The account is available to all types of customers.

• Benefits:

-Growing value of ones savings
-Security of funds
-Accommodative investment periods

• Main Features

-Minimum deposit of M1, 000.00
-Investment periods (3 months, 6 months, 9 months and 12
  months)
-Competitive Interest rate

 

• Conditions for Telea Fixed deposit:

-All applicants will receive a fixed deposit certificate— A proof that they have an investment with LPB.
-Matured Telea Fixed Deposit and the accrued interest will only be available from the branch at which the investment was made
  or at Lesotho PostBank Headquarters in Maseru.
-A fixed deposit investment that remains uncollected two weeks after it matures will be reinvested.
-All signatories to an association’s account should be present on withdrawal of the fixed deposit, whether upon maturity or early
 termination.
-Customers who know in advance that they may not be available at maturity of their fixed deposit investment may instruct the
  Bank to deposit their money into their savings book.
-Interest accrued is taxable in accordance with government’s income tax laws.