products and services

savings

CREDIT introduced different kinds of saving products on commercial rates to a variety of customers such as   passbook saving, certificate of deposit and corporate saving.  CREDIT ensures the safety and convenience of its depositors and charged no account keeping fees and interest on deposits is daily calculated. CREDIT maintains its current saving accounts pending registration in 2009 to the new NBC regulation on MFI mobilization of public savings.

Passbook Saving

Passbook Saving targets both CREDIT staff and the public who wishes to keep their money in a secure and accessible place for withdrawal when needed. Clients can open account with minimum balance of only USD 2.00 with 3% interest rate per annum compounded monthly. No account keeping fee is charge.

Fixed Deposit/Certificate of Deposit

This product is targeted to households or business sectors that have cash surplus for a long period of time. The minimum saving amount is US $10,000, with a minimum duration of at least 3 months. The interest rate varies from 6% to 10% per annum, depending on deposit amount and duration. Agreement form, Application form

Corporate Saving

CREDIT provides affordable professional services to partner organizations by streamlining savings and credit facilities through the NGO’s normal administration operation. Corporate Savings targets to companies or institutions to save for staff in their own personal saving account, and/or for future expenses and investment. Only US$5 is needed as a minimum deposit to open a Corporate Savings Account with 5% per annum interest rate on saving is provided to clients and interest is calculated daily on the outstanding balance and added to principal at the end of every month.