Product Name
Lero Savings Account
Product Description
A Savings Account for regular deposits and limitless withdrawals.
Product Objective
To raise non-interest income through ledger fee boosting liquidity through the deposits
To raise interest income through investments of customer deposits.
Book Balance: K2,000
Target Market: General public
Interest Rate: 3% per annum
Service fees: K500
Other services
Customer will be able to deposit from their Mpamba and Airtel money accounts, quoting their NCF Lero Savings account number as they send the money, .SMS alert for any transaction, funds transfer through standing orders, Debit cards, Access to funds 24/7 through National Switch participating ATMs.
Account opening requirements:
A valid ID (a National ID passport, driving license or Malawi Electoral Commission registration card) with a letter from a recognized authority or a letter from an employer and employees ID. Letter from the DC or the chief