Thursday, 23 March 2017
BANCABC LAUNCHES A FIXED DEPOSIT ACCOUNT WITH A DIFFERENCE
Double your returns with BancABC. Earn interest rate of up to 16% and borrow against this deposit instantly should you have the need.
March 14, 2017: BancABC, which is part of Atlas Mara, has launched a special product that will see one earn up to 16% on structured fixed deposit accounts.
Commonly, Fixed deposits have advantages that many would find attractive. To begin with, its interest rates are higher than savings account as the amount is retained by the bank until a given maturity date chosen by the customer. Other advantages are assured returns, flexibility and borrowing against the deposit. BancABC has gone a step further and not only offered an attractive interest of 16% but also an opportunity borrow against this deposit.
Speaking in Dar es Salaam during a press conference held at the bank headquarters, the BancABC Head of Retail and Business Banking Mrs. Joyce Malai said that there is no better offer of this nature in the market so far.
“We value the support that our esteemed customers give us, therefore as a bank we are looking at this product as a reward to our customers. It is like doubling your wallets worth instantly! We believe we have brought this product to the market on time, while it is needed most. We are certain that this product shall suit majority of our customers”.” added Joyce.
“The Double your returns promotion is very attractive, as it allows one to still make up to 16% of the amount fixed as well as borrow against the fixed deposit in order to invest in business, or buy shares, or prefund one’s wedding, or school fees payments or anything else he deems of a greater need and as a results doubles his investment. I would also like to call upon those that do not have an account with BancABC to take advantage of this and come to our branches and enquire about this product. BancABC is keen to meeting its customers needs and ensuring that they grow together with the bank. “She concluded.
BancABC will have this product offering ready for their customers and non-customers from the 14th of March for a period of two months and the investment can be done from one month to a year.
ABOUT ABC HOLDINGS
ABC Holdings Limited is the parent company of a number of sub-Saharan Africa banks operating under the BancABC brand, which offers a diverse range of financial services including personal, business and corporate banking, as well as asset management, stockbroking, and treasury services.
In 2014, Atlas Mara acquired a significant majority stake in ABC Holdings. Guided by its core values of professionalism, people, innovation, passion and integrity, BancABC is pursuing its vision to be the preferred banking partner in Africa by offering world class financial solutions – to the benefit of all its stakeholders.
ABOUT ATLAS MARA
Atlas Mara was listed on the London Stock Exchange in December 2013. Atlas Mara's vision is to create sub-Saharan Africa's premier financial services institution through a combination of its experience, expertise and access to capital, liquidity and funding. Its goals are to combine the best of global institutional knowledge with extensive local insights and to support economic growth and financial inclusion in the countries in which the Company operates.