MoneyMaster PSB has formally announced an eight per cent annual interest on its G-Kala savings accounts.
MoneyMaster PSB, initiated by digital services company Globacom, introduced the novel plan in order to promote the culture of saving among its existing customers as well as to promote financial inclusion among the unbanked and the under-banked population.
Both new and existing G-Kala savings account owners will enjoy an 8 percent interest rate per annum for all deposits made into their G-Kala savings account,” said MoneyMaster PSB in a statement in Lagos on Thursday.
A product specially designed for the benefit of underserved customers who may not have easy access to banks or those who prefer to bank at their own convenience, G-Kala enables them to operate their banking services including deposit, withdrawals, transferring money to other banks, airtime purchase, as well as pay bills such as electricity, water, DSTV, etc. on their phones without having a need for internet.
It also explained that G-Kala offers a convenient and safe alternative for banking transactions anywhere and anytime as it works real time, making it safer, faster, more convenient and cheaper than traditional money transfer services.
Customers, according to the statement, “must ensure no more than a maximum of three withdrawals is carried out in a month to enjoy the eight per cent interest. The interest amount will be calculated and credited monthly”.
MoneyMaster, through this plan, also hopes to sensitise and encourage potential customers on the essence of cashless banking. The bank called on such people to log on to its website, https://customer.moneymasterpsb.com/ for a convenient and seamless account opening experience. They can also dial *995# on any phone to start a delightful banking experience.
“This is an exciting opportunity for all to open a G-Kala account with MoneyMaster PSB, deposit money on the wallet and enjoy eight percent interest rate per annum,” the statement concluded,
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