Major payment service bank in Nigeria, MoneyMaster Payment Service Bank (MMPSB), has introduced an eight per cent annual interest for G-Kala savings account holders with the bank.
This is being done by the bank to promote financial inclusion culture in the country and encourage the savings culture among new and existing customers of the bank.
The bank, promoted by leading digital solutions provider, Globacom, disclosed in a statement issued in Lagos that “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.”
This benefit however comes with a proviso that 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,” the statement added.
MoneyMaster PSB is working to use this incentive to encourage the adoption of cashless banking among existing and potential customers. The bank disclosed that new customers can 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 product that was specifically created for users, especially the unbanked and under-banked Nigerians, to have easy access to banking services. Without the use of the internet, G-Kala also offers the advantages of banking on mobile phones through the use of USSD capabilities and customers can use it to make deposits, withdraw money, send money to accounts in other banks, purchase airtime, and pay bills for things like energy, water, DSTV, and other services.
It provides a practical and secure alternative to traditional money transfer services because it operates in real time, making it safer, quicker, more convenient, and less expensive.
