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Below are the types of accounts by First Capital Bank Malawi and account opening requirements:

—–Fast Account

For those who need fast and convenient account opening services, you now have the opportunity to open an account instantly and get an ATM & PIN immediately. A direct sales agent will help you to fill in a simple application form and get your photo and within no time, your account will be ready.

Features

✅ Account opening is fast and easy
✅ Get an ATM card plus PIN mailer instantly
✅ Easy to maintain
✅ Attractive interest rate- 5.0% per annum on balances above K5, 000.
✅ Account maximum balance of K200, 000.

Account Charges

Item Price
Starter Pack K5,000 for starter pack, (K4,500 for the card and K500 initial deposit into the customer’s account
Monthly maintenance fee K600
ATM withdraw K200
Cash deposit K250
Cheque deposit K175
Balance Enquiry from Branch K150
Counter withdraw K600
Card Replacement K4,500

To open a Fast Account download and complete the application form and visit your nearest branch. Or if you need to know more simply fill out the enquiry form and we will get back to you.

—-Current Account

Our current account gives you access to a range of services which all add up to one thing – convenience! With a current account you have the financial freedom and flexibility to manage your financial affairs quickly and easily using any of the financial services and products at your disposal including:

✅ A VISA debit card
✅ A Chequebook
✅ Internet banking
✅ Mobile banking

Plus as a Current Account holder you can also take advantage of many of our other services such as:

✅ Investment accounts for savings
✅ Credit facilities
✅ Bill payments

To open a current account complete the enquiry form and our customer service representatives will be happy to give you more information. Alternatively visit your nearest branch and ask to open a Current Account.

—-Fixed Deposit Account

Grow your money by investing your funds for a period of your own choosing, ranging from 1 to 24 months and get a fixed rate of interest when the time period matures. This account will help you save towards your goals since the funds are not easily accessible.

Features

✅ Eligibility for a loan upon opening the account
✅ Flexibility in account maturity period, i.e.,1,2, 3, 6, 9, 12 to 24 months
✅ The account can be renewed after maturity to another term
✅ A very attractive rate of interest.

One thing to note is that in the event you withdraw cash before the maturity period you will have to pay an early withdrawal penalty.

Details and Pricing

Item Price
Minimum deposit required with no upper limit K25,000.00 with no Upper limit
1 Month 3.5%
2 Months 5.5%
3 Months 5%
Above 3 months Negotiable

—-Savings Account

Save and grow your funds conveniently with our Savings (standard) account at 5.0% interest rate p.a on a half yearly basis. Get a cheque book at your request after an initial deposit of K20,000. You also get a Fast cash ATM card and access to loans!

Features

✅ With an initial deposit of K20, 000 you automatically qualify for a chequebook, which is available on request.
✅ Customers get an ATM card for easy access to their money
✅ 0% p.a. interest rate on a half-year basis.
✅ Access to Loans
✅ Low Account Charges

—-Current Account (LCY/FCY)

First Capital Bank’s business current account can be used for all payments, withdrawals, transfers, and deposits. The business accounts also offer clients access to multiple channels for their banking transactions.

Features & Benefits

In addition to the transactional features, business account holders also get:

✅ A Debit Card for your convenience on application and approval
✅ Access to credit facilities
✅ Access to First Capital Bank payroll solutions
✅ No minimum account balance
✅ Internet and mobile banking solutions
✅ Flexible interest earning accounts which can be utilized according to your cash flow requirements. Interest rates vary in line with prevailing money market rates.

ACCOUNT OPENING REQUIREMENTS

To open an account you will need to attach a few things to your application – namely:

  • Copy of the Certificate of Incorporation /or Registration certificates
  • Copy of Memorandum & Articles of Association /or Business Partnership Agreement
  • Resolution of Board of Directors (National ID or Passport copies of Directors/signatories)
  • Individual Taxation Authority Pin certificates of directors
  • Business PIN Certificate
  • Passport size photos of Directors/signatories (1 each)
  • Utility bill in the company name
  • Utility bill of the Company Directors
  • Latest Annual returns/ or audited /unaudited company accounts

—-Investment Accounts

First Capital Bank offers business customers flexible tailor made investment packages to match your business requirements.

Fixed Deposits

Earn great interest on our fixed deposits from one month, three months, six months or a term of your choice.

Call Deposits

Save at your own pace and access cash whenever you need. Flexible interest earning accounts which can be utilised according to your cash flow requirements. Interest rates vary in line with prevailing money market rates.

Treasury Bills

We invest in Treasury Bills for our clients. We will buy treasury bills on your behalf and manage the entire process. Enjoy the enhanced yields on your hard earned money.

—–Foreign Currency Accounts

If you are a bonafide exporter of goods/services from Malawi or if you receive foreign currency in the form of a grant or external project funding, we can offer secure, flexible and convenient ways of banking your foreign currency earnings. We offer foreign currency accounts in USD, GBP, EUR and ZAR. Enjoy attractive rates of interest and complete peace of mind.

CORPORATE ACCOUNTS

—-Current Account (LCY/FCY)

First Capital Bank’s Corporate current account can be used for all payments, withdrawals, transfers, and deposits. The current accounts also offer clients access to multiple channels for their banking transactions. To open an account complete the enquiry form or visit any of our branches for further assistance.

Features & Benefits

In addition to the transactional features, corporate account holders also get:

✅ Debit Cards for easy payments and withdrawal of funds
✅ Internet banking
✅ Access to credit facilities
✅ Access to First Capital Bank payroll solutions
✅ No minimum account balance

Flexible interest earning accounts which can be utilized according to your cash flow requirements. Interest rates vary in line with prevailing money market rates.

Account opening requirements

To open an account you will need to attach a few things to your application – namely:

  • Copy of the Certificate of Incorporation /or Registration certificates
  • Copy of Memorandum & Articles of Association /or Business Partnership Agreement
  • Resolution of Board of Directors (National ID or Passport copies of Directors/signatories)
  • Individual Taxation Authority Pin certificates of directors
  • Business PIN Certificate
  • Passport size photos of Directors/signatories (1 each)
  • Utility bill in the company name
  • Utility bill of the Company Directors
  • Latest Annual returns/ or audited /unaudited company accounts

—–Investment Accounts

First Capital Bank offers business customers flexible tailor made investment packages to match your business requirements.

Fixed Deposits

Earn great interest on our fixed deposits from one month, three months, six months or a term of your choice.

Call Deposits

Save at your own pace and access cash whenever you need. Flexible interest earning accounts which can be utilised according to your cash flow requirements. Interest rates vary in line with prevailing money market rates.

Treasury Bills

We invest in Treasury Bills for our clients. We will buy treasury bills on your behalf and manage the entire process. Enjoy the enhanced yields on your hard earned money.

—–Foreign Currency Accounts

If you are a bonafide exporter of goods/services from Malawi or if you receive foreign currency in the form of a grant or external project funding, we can offer secure, flexible and convenient ways of banking your foreign currency earnings. We offer foreign currency accounts in USD, GBP, EUR and ZAR. Enjoy attractive rates of interest and complete peace of mind.

INSTITUTIONS ACCOUNTS

—-Current Account

Institutional Current Account

First Capital Bank’s Institutional current account can be used for all payments, withdrawals, transfers, and deposits. The current account also offers clients access to multiple channels for their banking transactions. To open an account a downloadable application form is available on this website or visit any of our branches for further assistance.

Features & Benefits

In addition to the transactional features, current account holders also get:

✅ A First Cash Card for easy withdrawal of funds
✅ Access to credit facilities
✅ Access to First Capital Bank payroll solutions
✅ No minimum account balance
✅ Flexible interest earning accounts which can be utilized according to your cash flow requirements. Interest rates vary in line with prevailing money market rates.

Account opening requirements

  • Copy of Registration certificate
  • Copy of Constitution or similar document
  • Resolution of Directors/ Executive
  • National ID or Passport copies of Directors/Executive
  • Individual Taxation Authority Pin certificates of Directors/ Executive
  • PIN Certificate if applicable
  • Passport size photos of Directors/Executive(1 each)
  • Utility bill in the organisation’s name
  • Utility bill of the Directors/ Executive
  • Latest Annual returns/ or audited /unaudited accounts

—-Investment Accounts

First Capital Bank offers institutional customers flexible tailor-made investment packages with for competitive returns

Fixed Deposits

Earn great interest on our fixed deposits from one month, three months, six months or a term of your choice.

Call Deposits

Save at your own pace and access cash whenever you need. We offer flexible interest earning accounts which can be utilised according to your cash flow requirements. Interest rates vary in line with prevailing money market rates.

Treasury Bills

We invest in Treasury Bills for our clients. We will buy treasury bills on your behalf and manage the entire process. Enjoy the enhanced yields on your hard earned money.

—-Foreign Currency Accounts

Manage your foreign currency with a First Capital Bank Foreign Currency Account

If you receive foreign currency in the form of a grant or external project funding, we can offer a secure, flexible and convenient ways of banking your foreign currency. We offer foreign currency accounts in USD, GBP, EUR and ZAR. Enjoy attractive rates of interest and complete peace of mind.

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February 17, 2024

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