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Money Market Deposits
Cash transactions made with deposit money banks either secure or non secure
Product Description
- – Cash transactions made with deposit money banks either secure or non secure
- – Overnight Deposits
- – Call Deposits (ordinary call or 7 day call)
- – Certificate of Deposits
- – Fixed/Time/Tenured Deposits (Usually 30,60,90,180 days, occasionally 1 year)
Product Features
- – Transaction depends on limit for counter parties
- – Can be secured or unsecured
- – Can be Open Buy Back or Fixed Buy Back
- – Simultaneous transfer of funds and securities by both counterparties
- – Face value of underlying security same as nominal value of loan amount
Your Benefits
- – Opportunity to earn increased yield on short term investment
- – Creates liquidity to meet short term obligations
- – Safer as an investment when secured since investor receives collateral
The Requirements
- – Letter expressing desire to invest in MMD and authority to debit account thereafter
- – Filled KYC form
- – Duly signed investment contract confirmation letter showing issuers name.
- – New Clients
- – Account opening form with passport attached and means of identification
- – Cheque or lodgment slip
- – Filled KYC form
- – Duly signed investment contract confirmation letter showing issuers name
- – You initiate request and comply with requirements above
- – Account officer verifies documents and forwards to treasury
- – Treasury raises deal slip and forwards to Trops
- – Customers account is debited in line with deal slip instructions
- – Contract certificates are generated
If you need assistance or have questions, we are always here to help.
