Fixed Term Deposits

Aggar is one of a private MFIs in Ethiopia established in 2004 for delivering financial services for missing middle targeted customer.

Aggar focus on savings led microfinance loan service to its customers and potential customers that employs both group and

individual lending methodologies to provide its four savings and six loan products.

One of savings product which agar provide for existing and potential customers is Fixed Term Deposits.

Fixed Term Deposits: time deposit is recently introduced with opening balance of Birr 300,000 and minimum period of one year. The interest of fixed term deposit

    1. For Birr 300,000.00 to 1,000,000.00 is 11% per annum.
    2. For Birr above one million 12% per anumum and decided by negotiation based on the amount of savings the depositor customers do have.