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*RBZ Announces Interest Rates Banks Shall Pay On Deposits* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?yp The Reserve Bank of Zimbabwe (RBZ) has announced the interest rates that shall be paid by banking institutions on deposits. Pindula News present the central bank’s statement. The Bank wishes to advise the banking public that it has engaged the Bankers Association of Zimbabwe on the need to comply with Statutory Instrument 65A of 2020 on the payment of interest on savings accounts. To this end, interest rates on deposits that shall be offered by banking institutions, effective 1 July 2021, are as follows: ---------- *HOT DEALS:* *itel A70 - (128GB, 3GB RAM) $89,* *itel A70 - (256GB, 4GB RAM) $99* *itel P40 (128GB, 4GB), (6000mAh) $99* *itel P40 (64GB, 4G), (6000mAh) $93* *LATEST: itel S24 (128) $124; S24 (256GB) $159* Cash on Delivery in Harare & Bulawayo. Tinotumira kwamuri inosvika. WhatsApp: 0️⃣7️⃣8️⃣3️⃣ 4️⃣5️⃣0️⃣ 7️⃣9️⃣3️⃣ ---------- Savings Accounts – Minimum of 5% per annum – Minimum of 1% per annum (US$) Fixed Term Deposits – Minimum of 10% per annum – Minimum of 2.5% per annum (ZWL$) There will be no bank charges on savings accounts and fixed-term deposits. The Bank also advises the public that demand and call accounts are transactional accounts from which funds deposited can be withdrawn at any time and without advance notice and hence, in line with global practice, banking institutions will not be able to pay interest on such transitory deposits. More: Pindula News _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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