African Bank - be aware of what they tell you and what they do

Be aware that the interest of the 60 months fixed deposit with payment of interest after maturity is taxed every year - and NOT AFTER EXPIRY as the staff on ground is trained to let you know. This means you have to pay tax on interest that you cannot access. In larger investments, this can become a real cash flow problem. For the bank to not inform the client accordingly upon signing is problematic, incorrect - and *********. We learned about it through experience - and the staff on ground confirmed that this is what they are supposed to say. The management has not called back yet - despite promise. Who is surprised.