ZAMBIA National Commercial Bank Plc (ZANACO) has launched a ‘PureSave Account’ which comes with attractive monthly interest rewards of 17 percent per annum with zero maintenance and over the counter charges.
Speaking at the launch at Intercontinental Hotel, ZANACO director products and channels Chibotu Chiyasa explained that the new account would enable clientele to grow their savings in the most convenient way as it offered attractive monthly interest rewards.
Mr Chiyasa disclosed that the 17 percent interest rate on this account was higher than prevailing rates on ordinary savings accounts.
He pointed out that the minimum investment amount for this account was only K200 and that other special features of the product included the seamless transfer of funds from other accounts and free account opening procedure.
Mr Chiyasa assured clients that ZANACO was committed to improving service delivery through innovative but affordable products and services.
“The account is indeed PureSaving because unlike other savings accounts, withdrawals are limited to once a quarter. There are zero maintenance and over the counter fees and minimum investment amount of K200.00. Other special features include seamless transfer of funds from other accounts into the account and easy-hassle-free account opening procedure,” he explained.
Mr Chiyasa said that the ZANACO would also continue to invest in its over 2000 touch points dotted across the country in what he said was an effort to bring banking services closer to the people.
He said that the bank cherished its customers and that the bank would not exist without them.
Meanwhile, Bank of Zambia (BOZ) senior director for supervisory policy Chisha Mwanakatwe disclosed at the same event that BOZ was proud of initiatives that helped empower the citizens of Zambia.
Mr Mwanakatwe said that BOZ, the regulator of the banking sector in the country wanted to see Zambians play an active role in the growth of the economy.
He emphasised that the bank regulator was proud to see innovations that ultimately translated into enriching people’s lives.
Mr Mwanakatwe commended ZANACO for the role they had taken of bringing innovative but quality affordable products in Zambia.
“I am happy to mention that ZANACO have taken the lead in planning and successfully implementing such initiatives. The bank has committed to being the market leader in financially including as many people as possible in both rural and urban Zambia through their various touch points and presence in all the ten provinces,” he said.