Nation Online

Ecobank launches new account

Ecobank Malawi customers stand to benefit with the newly-introduced Chuma Changa Savings Account which attracts a 12.5 percent interest rate payable bi-annually.

Ecobank media and brands communications officer, Lumbani Kasambiza, said the account was developed to promote the savings culture as well as help Malawians to grow their savings.

“Chuma Changa is a special savings account designed to help people grow their savings. A minimum balance of K5 000 (about $14) is required to open the account which attracts an interest rate of 12.5 percent payable bi-annually unlike the ordinary savings account whose interest is at 12 percent,” she said.

Kasambiza said like the normal savings account, the new account comes with a complete bundle of electronic services, including e-alerts, internet banking, SMS alerts and it has no ledger fees and no withdrawal amount limits.

“We are looking forward to providing our customers with products and services that meet their requirements and needs.

“We believe in developing the lives of our customers and we also understand the importance of saving. That is why we want our customers to be well-rewarded from their investment,” she said.