Finca is one of the best banks to open a savings account in Malawi.Below is a list of the savings accounts and account opening requirements:

—-FINCA Fixed Deposit Account

  • This is an ideal account for customers either individuals or jointly and also institutions or companies that wish to grow their money in an easy way.
  • Under this account your investment grows in lumps with no risks involved.
  • This account is designed to suit the needs of entrepreneurs who wish to accomplish a specific goal in a specific period of time.
  • Individuals and companies that wish to save money for a long period of time without withdrawing it.
  • Individuals and companies that wish to watch their money multiply as a result of high interest accruals.

Requirements

  • National Identification (ID) card.
  • Institution or company details for corporate assets.
  • Free passport photo taken at the branch.

Features and Benefits

  • Simple and instant account opening.
  • Minimum opening balance as low as MWK10,000.
  • Unlimited flexible fixed periods starting from 1 month.
  • Negotiable, flexible and competitive interest rates available in all Branches
  • Opportunity to get upfront interest payment (optional).
  • No monthly maintenance charge/ account service fee.
  • Access to your funds on maturity.
  • Account can be used as collateral to access a loan.
  • On expire of term, deposit can be liquidated or renewed.
  • Certificate of deposit is issued to you.
  • You can rest, assured that your money is safe and secure.

—-PHINDU Savings Account

Requirements

  • National Identity card.
  • Verification of residential address (Escom/ waterboard bill payment receipt).
  • Passport photo which can be taken for free at the branch.

Features and Benefits

  • Simple, fast account opening.
  • MWK1000 account opening balance which can be withdrawn later.
  • Free account transactions.
  • Free unlimited withdrawals and deposits at all our branches across the country.
  • No monthly maintenance charges/ account service fee.
  • Competitive 6% annual interest rate for book balances as low as MWK1,000.

—-Pamodzi Savings Account

ACCOUNT OPENING REQUIREMENTS

  • Registration Certificate
  • Full names of group members
  • Reference letter if under any organization
  • Constitution and minutes
  • Valid ID’s for signatories
  • Proof of address for the group or signatories
  • Anticipated volume of activity anticipated nature of funds to the account (salary, cash, cheques, wire transfer)

WHY FINCA PAMODZI SAVINGS ACCOUNT

  • Simple and fast account opening
  • Minimal account opening balance of K5,000
  • Competitive annual interest rates
  • Offers unlimited withdrawals and deposits
  • No account maintenance charges
  • No inter-branch transaction fees





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February 17, 2024

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