Fixed Deposit Account
Fixed deposit · Regulated by the CMA
What is this?
A fixed deposit. You place a lump sum for a set term and agree a rate with the bank.
The details that matter for this kind of plan
| Term options | 1 to 12 months |
|---|---|
| Rate publication | Bank says 'competitive rate' but does not publish a rate table. |
| Breaking early | If you uplift before maturity, interest is forfeited unless approved. |
What does it cost you?
The Co-operative Bank of Kenya Ltd does not publish what it charges. We looked for one charge and found no figure for any of them:
- · The bank says early uplift forfeits the interest; no numeric penalty is published on the page.
What if you stop paying?
Not a monthly saver. You put in a lump sum and leave it until maturity.
What if you need the money early?
If you take the money before the end date, you lose the interest unless the bank allows it.
Who this suits
You have at least KES 50,000 and can lock the money for 1 to 12 months.
You might need the cash early or you want to add small amounts over time.
How openly does this company explain its charges?
- What do they charge you every year?This kind of charge does not exist on this product.
- What is taken off the money you pay in?This kind of charge does not exist on this product.
- What does it cost to get out early?No exit penalty is printed in the sources we checked.
- What is the smallest amount you can start with?KES 50,000.
- How long is your money tied up?They do not say how long you are tied in.
- Is the advertised return before or after their charges?This product does not advertise a return.
- Do they warn you the return is not guaranteed?This kind of product does not advertise a return.
- Do they tell you what you get back if you stop early?You get whatever your money is worth on the day. There is no schedule.
- Do they list what is not covered?This is not insurance, so there is nothing to exclude.
- Are all their charges published?No. 1 charge is mentioned without a figure.
- Do they say who regulates them?Yes — the CMA. That is who you complain to.
This grades how openly things are explained, not whether the plan is good or bad. See how we work it out.
Talk to them
- If something goes wrong, the CMA is who supervises them.
Compared with the others
There are 6 other plans of this kind on the board. See all 7 side by side — what each one leaves you with, and which of them will not say.
What the documents actually say
Every figure above was read out of a document. These are the sentences, word for word, so you can check them rather than take our word for it.
“Minimum amount for FDR is KES 50,000 or FCY equivalent.”
“The customer is paid a competitive rate for the period the money is held in the account.”
“The period ranges from 1 to 12 months.”
“Yes customers are permitted to uplift Fixed Deposits before maturity interest is forfeited, unless otherwise sanctioned as per the approved Authority Limits.”
“What are the withholding tax rates? ... Qualifying interest / Interest | 15% | 15% | Final for individuals (from financial institutions listed in the Income Tax Act)”
Where we got this
- Fixed Deposit Account – product pagethe company itselfRead on 2026-08-22
- KRA – Withholding Tax: rates including interestthe regulatorRead on 2026-08-22