Izwe Savings and Loans Plc, a specialised deposit taking institution licensed by the Bank of Ghana, has introduced Mobisave, a new savings product accessible via their USSD platform (*272#).
This innovative service allows both new and existing customers to save money conveniently through their mobile phones.
Features of Mobisave;
- Digital Savings Account: Customers can easily open an account using their phones, without visiting any of our branches.
- Seamless Transactions: Users can make deposits or transfers to and from their mobile money wallets at any time and from any location. Deposits can be initiated by the customer and can also be automated for regular transfers (standing order). Third parties can also make deposits into Mobisave customer accounts.
- Flexible Saving Options: Customers can choose to save daily, weekly, or monthly, earning a competitive interest rate of 12% per annum. Interest is accrued daily and paid monthly.
- No Transaction Fees: Customers can move funds from their Mobisave account to their wallet and vice versa at no charge.
- Simple Requirements: To open a Mobisave account, all that is needed is a Ghana card and a minimum deposit of GHS 10.
Chief Executive Officer of Izwe Savings and Loans, Mr. Raymond Kwakye Bismarck, emphasized Izwe’s commitment to financial inclusion and Mobisave as a way to achieve that.
He stated, “We understand that the individuals and business owners we work with do not have the luxury of time to frequent our branches. With Mobisave, all new and existing customers can now open a savings account and manage it from the comfort of their homes and businesses. This innovation significantly bridges the gap between the banked and the unbanked.”
Mr. K. Bismarck encouraged the general public to take advantage of Mobisave, emphasizing the convenience and attractive interest rates offered, which make it a beneficial tool for managing idle funds on mobile wallets.
About Izwe
Izwe Savings & Loans Plc is a subsidiary of Izwe Africa which was originally founded in South Africa in 2004 with its headquarters in Mauritius, and subsidiaries in Kenya and Zambia.
