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Negotiable Certificate of Deposit and Floating Rate Notes
 
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Negotiable Certifcate of Deposit (NCD)

An NCD is a fixed deposit receipt which is tradable in the secondary market, which means that the holder of an NCD can sell it to a third party.

An NCD cannot be cashed before maturity.

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Floating Rate Notes (FRN)

Floating Rate Notes are investments that have a variable rate benchmarked at a spread against a money market rate.

The foating interest rate is adjusted periodically, but the pread remains constant over the duration of investment.

Negotiable Certifcate of Deposit and Floating Rate Notes

Guaranteed by the bank and can be sold by a third party.

Negotiable Certifcate of Deposit (NCD)

An NCD is a fixed deposit receipt which is tradable in the secondary market.

 

Floating Rate Notes (FRN)

Floating Rate Notes are investments that have a variable rate benchmarked at a spread against a money market rate.

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First National Bank of Botswana Limited - Registration number BW00000790476.