Product Name
Investment Account
Product Description
It provides store of value and affordability to savers. Aimed at encouraging serious savers to save their spare money and enjoy better interest rates with no management fees attached.
Product Objective
Boosting liquidity through cheap deposits
To raise interest income through investments of customer funds
Interest Rate: 3.00% p.a. (on Minimum monthly balance)
Ledger fees: None
Other services
Access to deposit backed loans for up to 70% of deposit balance. SMS alert for any transaction, funds transfer through standing orders.
Account opening requirements:
A valid ID (National ID passport, driving license or Malawi Electoral Commission registration card) with a letter of identification from Chief, DC employer etc.