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BUSINESS

MoneyMaster PSB Promotes Saving Culture

September 15, 2023 • 2 min read

MoneyMaster Payment Service Bank established by Globacom, has announced an eight per cent annual interest on their savings accounts with the bank for G-Kala savings account holders.

In a statement, it said, the novel plan was being put in place by the PDB, to promote the culture of savings among new and existing customers of the bank, and also to promote financial inclusion in the country.

According to a statement issued by the bank on Thursday, “both new and existing G-Kala savings account owners will enjoy eight per cent interest rate per annum for all deposits made into their G-Kala savings account.”

However, it added, the customer “must ensure not more than a maximum of three withdrawals is carried out in a month. The interest amount will be calculated and credited monthly.”

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The bank said it hoped to use the incentive to also drive the adoption of cashless banking among potential customers who could log on to its website for a convenient and seamless account opening experience.

“This is an exciting opportunity for all to open a G-Kala account with MoneyMaster PSB, deposit money on the wallet and enjoy 8 percent interest rate per annum,” the statement added.

G-Kala is a specially designed product for the benefit of customers who may not have easy access to banks and also the unbanked population.