Product Name
Alimi Savings Account
Product Category
Transaction Account
Product Description
The account is for farmers (individuals or clubs) of different cash crops. It offers commercial farmers the opportunity to save their proceeds from the harvest as they wait for the next season. It is convenient, affordable and a trusted way of saving money by farmers.
Product Objective
To increase seasonal deposits and raise non-interest income through ledger fees
To raise interest income through investments of customer deposits.
Book Balance: K2,000
Target Market: Commercial farmers (Individuals or Clubs)
Interest Rate: 3.5 % p.a. (on monthly minimum balance)
Ledger fees: K500
Other services:
Customer will be able to deposit from their Mpamba and Airtel money accounts, quoting their NCF savings account number as they send the money.
Account opening requirements:
A valid ID (National ID, passport, driving license. Malawi Electoral Commission registration card) with a letter from the Village Head man or DC.