Stanbic Bank Ghana has launched a campaign to get new customers into its savings fold and ultimately be financially independent.
Apart from the free GHc100.00 reward for both existing and new customers, the package is also encouraging customers to enhance their savings and earn attractive monthly interest on it.
The campaign launched under the name Contract Save or Puresave account, allows the bank to credit the account with GhC100 under which customers are required to grow their savings account with a minimum of GHC50 every month for the next 24 months to earn the reward.
At the launch of the campaign last week, Alhasan Andani, managing director of the bank noted that the adoption of a culture of regular savings is a useful economic practice all over the world since it serves as a reliable source of funding for economic development.
“Stanbic Bank wants to support the entrenchment of a savings habit in the country and we are happy about the support shown by our partners in this campaign. We hope to help stimulate a disciplined savings culture in Ghana with the free GhC100 campaign, by educating people on the need to save” said Andani.
For the records, Ghana has been described as the country with the lowest savings rate in Sub-Saharan Africa, that situation according to Andani has not improved significantly and this has been confirmed by the 2011 Legatum Prosperity index which said savings is just below 9% in recent times.
He said a World Bank report in 2011 said gross domestic savings in Ghana was 9.28% of GDP in 2010 up from 8.73% in 2009 while India and China in the same period were saving well over 25% of GDP.
Concluding the MD said the free GhC100 give-away is to stimulate a change in lifestyle while rewarding its customers.
Apart from the free GHc100.00 reward for both existing and new customers, the package is also encouraging customers to enhance their savings and earn attractive monthly interest on it.
The campaign launched under the name Contract Save or Puresave account, allows the bank to credit the account with GhC100 under which customers are required to grow their savings account with a minimum of GHC50 every month for the next 24 months to earn the reward.
At the launch of the campaign last week, Alhasan Andani, managing director of the bank noted that the adoption of a culture of regular savings is a useful economic practice all over the world since it serves as a reliable source of funding for economic development.
“Stanbic Bank wants to support the entrenchment of a savings habit in the country and we are happy about the support shown by our partners in this campaign. We hope to help stimulate a disciplined savings culture in Ghana with the free GhC100 campaign, by educating people on the need to save” said Andani.
For the records, Ghana has been described as the country with the lowest savings rate in Sub-Saharan Africa, that situation according to Andani has not improved significantly and this has been confirmed by the 2011 Legatum Prosperity index which said savings is just below 9% in recent times.
He said a World Bank report in 2011 said gross domestic savings in Ghana was 9.28% of GDP in 2010 up from 8.73% in 2009 while India and China in the same period were saving well over 25% of GDP.
Concluding the MD said the free GhC100 give-away is to stimulate a change in lifestyle while rewarding its customers.
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