The CDHIB Diaspora Account is a transactional and savings foreign currency account which is opened by Malawians who live in the Diaspora (abroad). The account can be opened and maintained in USD, Euro, Rand and Pound.
- The opening and minimum account balance is: $1,000, €1,000, £ 1,000, R10,000
- Minimum balance to earn interest : $2 000, £2 000, €2 000 and R 20 000
- Interest payment of GBP 0.15%, USD 0.15%, EUR 0.10% and ZAR 2% paid per quarter
- No ledger fees if the account balance is above $1000 or equivalent
- Free internal standing orders
- Freely transferable to any destination in the world without translation. (Documentation required in line with exchange control regulations.)
- No incoming funds charge
- Free cash withdrawal subject to notice and availability
- Conversion to local currency at bank’s mid-rate
- The account gives you access to other CDHIB services including: Personal Loans (up to 70% of account balance and repayable within 12 months), Investment Accounts, Prime Investors Account, Personal Overdraft and investment advice. Loan accounts will be secured by the Diaspora Account balance.
- Free access to account balance, statement and funds transfer through CDHIB Online