Maseru, Dec. 10 -- Lesotho Post Bank (LPB) launched Fupe, a new flexible fixed deposit account that allows the holder to deposit and withdrew funds at any time.

LPB Chief Sales officer 'Mathabo Tsehlo explained that Lesotho Post bank came up with this new product having discovered that most of the banks only look after people who have invested money in their fixed accounts to access at a later stage, having agreed about the time such an investments will have matured. This, she said, denies the investor access to their money during times of emergency because the investment is said to be fixed.

The newly introduced product, Tsehlo mentioned is a fixed deposit account which requires a minimum opening amount of M1 000 and its term starts fr...