In a groundbreaking move, MoneyMaster Payment Service Bank (MMPSB), a financial institution established by Globacom, is set to transform the savings landscape with a remarkable announcement. The bank has unveiled a generous 8 percent annual interest rate for account holders of their G-Kala savings accounts.
The innovative initiative, undertaken by MMPSB, is aimed at fostering a culture of savings among both new and existing customers. Additionally, the bank is striving to advance financial inclusion across the nation.
A recent statement from the bank’s headquarters in Lagos reveals that “both new and existing G-Kala savings account holders will now benefit from an impressive 8 percent interest rate per annum on all deposits made into their G-Kala savings accounts.”
However, customers must adhere to a monthly withdrawal limit of three transactions to enjoy this lucrative interest rate. The bank will calculate and credit the accrued interest to the accounts on a monthly basis.
Beyond enhancing savings, MMPSB seeks to encourage the adoption of cashless banking, particularly among potential customers. Those interested can conveniently open an account through the bank’s website at https://customer.moneymasterpsb.com/ or by dialling *995# on any mobile phone, thus initiating a seamless banking experience.
“This presents an exciting opportunity for everyone to open a G-Kala account with MoneyMaster PSB, deposit funds into the wallet, and relish an 8 percent interest rate per annum,” the statement emphasised.
G-Kala is a purposefully designed product aimed at benefiting individuals who may not have easy access to traditional banking services, including the unbanked population. Through USSD technology, G-Kala brings the benefits of banking to users’ phones, eliminating the necessity for an internet connection. This service enables users to deposit and withdraw funds, transfer money to other banks, purchase airtime, and settle bills such as electricity, water, and DSTV, all in real-time.
MoneyMaster PSB’s G-Kala offering is poised to provide a convenient, secure, and cost-effective alternative for banking transactions, available anytime and anywhere. This real-time solution promises to be a game-changer in the realm of financial services, making banking safer, faster, more convenient, and more affordable than ever before.