Flexi Fixed helps SMEs save and maintain liquidity

More entrepreneurs are seeing the need to invest business income to protect their businesses against unexpected expenses and mitigate cash flow issues. The answer for some is the real help from FNB’s affordable Flexi Fixed Deposit Account.    

Helping you meet business needs, cut costs

The Flexi Fixed Deposit Account for businesses helps them earn higher returns than a regular savings account would, which can boost company savings and grow capital. Flexi Fixed also aids in ensuring liquidity and flexibility, which can help in the management of cash flow to meet business needs.

Additionally, this account has no monthly account fees, which helps to reduce costs while earning interest.

FNB offers the Flexi Fixed Deposit Account for businesses with a minimum opening balance of E100 and no maximum balance. One has the flexibility to transfer more funds into the account anytime, and it starts to bare interest from minimum balance of E1000. A business can choose between a three-month or a 12-month investment term, and the interest rate is linked to the prime lending rate.

An affordable option for SMEs seeking tender capital

Dumisani Sikhosana, FNB Commercial Sales Manager, says the Flexi Fixed Deposit Account has provided real help for Eswatini’s SMEs.

“This is not just a business savings account, but it also assists entrepreneurs who want to save for capital or who want to go to tender. Some of our SME clients want to tender, and the requirement for tender bond is putting money in an investment account. Flexi Fixed also acts as that account and at the same time provides value through interest and flexibility of two free withdrawals,” he said.

He said through the interest businesses also saves more, which helps on rainy days.

Longer investments yield better interest

With Flexi Fixed, a business can earn interest on the business investment, ranging from 3.80 percent up to 6.40 percent depending on the duration of the savings as well as the amount the business has in the account. 

Sikhosana, FNB Commercial Sales Manager, says such interest is useful for a business as one can use that money on operational costs.

“The interest rate is linked to the prime lending rate. This means each time the prime rate increases, potential returns also increase. By having a Flexi Fixed Deposit Account, businesses can enjoy the benefits of both saving and flexibility and protect against financial risks,” he added.

Tom Lin, Managing Director of Destiny Group, attests to the functionality of the savings product, saying it has helped his company remain reliable and efficient.

“Every company needs a savings account. It’s crucial to ensure its longevity. A flexible savings account that allows you to also make periodic withdrawals when the business needs them is, therefore, very useful. FNB’s Flexi Fixed has always been there for our business whenever we needed it for any equipment upgrade or emergencies,” he says.

He says most of all, what appeals to him about the product is its interest rates. “Having a business savings account with such a good interest rate is a plus for anyone,” he says.

The Director of the 21-year-old audiovisual company said Flexi-Fixed Deposit Account is, therefore, an essential part of any business that wants to save and also be able to have those savings available for any operational expenses.

The account allows businesses to save money at a fixed interest rate while still having access to 15% of the invested funds within 24 hours.