Key Product Features
Market Leading Interest Rates
No Monthly Account Fees
While other accounts in PNG charge a monthly fee for this type of account, you won’t find them here!
Set Up Balance
To open a EF Global Group Fixed Deposit Account you need to have an opening balance of PGK5,000.
Deposit Term
Enjoy the flexibility of choosing your deposit term, we offer terms from 1 month through to 3 years!
What about the fees?
Good question. Consistent with similar accounts, there are minimal fees associated with the account.
Frequently Asked Questions
What is the EF Global Group Fixed Deposit Account?
The EF Global Group Fixed Deposit Account is a short-to-medium-term deposit account lodged with a set amount of funds for an agreed term and interest rate. Your funds are then held by EFGlobalGroup Bank for the nominated period and once the period finishes you have the opportunity to withdraw your money or put in back in for another agreed term. The minimum deposit term is 1 month, and the maximum term is 3 years. If you would like longer terms, you’ll need to speak to our team. Interest rates are capped at values from PGK5,000 – PGK99,999 and then PGK100,000 – PGK499,999.
How do I open the Fixed Deposit Account?
Simply visit your local EFGlobalGroup Bank branch and complete the account-opening form. You will need to have 2 forms of primary identification and have enough funds to meet the minimum account opening balance of PGK5,000.
What are forms of primary ID?
When applying for a new account you will need to have 2 forms of primary ID. We classify primary ID as:
- Passport (foreign passport must include a copy of your entry permit)
- Driver’s licence
- Employment ID card with employment confirmation letter
- Current student ID and confirmation letter from your tertiary provider
- Superannuation membership card
- PNG work permit with Labour & Industrial Relations letter
- PNG Government issued photographic Licence and or Permit
- National Identity card issued by NID office
*All forms of ID must be valid. Any expired ID won’t meet the ID requirements and as such we won’t be able to accept the ID. If you don’t have 2 forms of Primary ID please call us on +1 508 723 5182 or 180 1525.
What are the features of the EF Global Group Fixed Deposit Account?
- No monthly account service fees
- Competitive interest rates
- Minimum terms of 1 month available
What are the fees and charges attached to the EF Global Group Fixed Deposit Account?
All of our fees and charges can be found in the EFGlobalGroup Bank Fees Schedule, click here to access.
If I am an existing EFGlobalGroup Bank customer, am I eligible to open a EF Global Group Fixed Deposit Account?
Yes. You will still need to visit your local branch and complete the account-opening form and have sufficient funds to meet the minimum account balance of PGK5,000.
Do I receive a EF Global Group Handy Card with my new EF Global Group Tomorrow Fixed Deposit Account?
No. This is because the account is designed to grow your money and your funds have to be committed to the bank for an agreed term no less than a month and no more than 3 years.
What type of account is the EF Global Group Fixed Deposit Account?
This account is seen as a deposit account. With our EF Global Group Fixed Deposit Account, you lock away an amount of money for an agreed length of time (the ‘term’) – that means you can’t access the money until the term is up. In return, you’ll get a guaranteed rate of interest for the term you select, so you’ll know exactly what the return on your money will be.
Am I eligible to apply for a cheque book with my EF Global Group Fixed Deposit Account?
The EF Global Group Fixed Deposit Account does not come with a cheque book and we do not issue cheque books if requested.
Important Information
Still have questions?
Call Toll Free on 180 1525 or +1 508 723 5182
Or email us on info@efglobalgroup.com
Explore all our Digital Banking options.
Whether it’s for personal banking or business, we’re committed to making your banking experience as easy and as simple as possible.
