Empower Savings Account

Overview

Empower Saving is a sub product under Saving Deposit Category. Empower Saving onboard the customers into the digital platform through the usage of delivery channel services(mBoB,Internet Banking and ATM) . The customers who opt for Empower Saving can also maintain/open additional Normal Saving Account under same CIF.

Eligibility

Savings Deposit Account can be opened by:

  • Individual,
  • either or survivor

INTEREST RATE

  • The prevailing rate of interest on Empower Savings Deposit Account is 5.25% per annum, calculated on daily product basis.
  • No upper limit on account balance.
  • The interest would be paid irrespective of number of withdrawals.

Exemptions

  • Annual Maintenance fee
  • MBoB monthly fee
  • ATM Visa Debit card processing fee.

Charges/Fees

The debit Transaction over the bank counter will be charged a minimal fee of Nu.150 per transaction(both cash withdrawal & Transfer transaction).

REQUIRED DOCUMENTS

Eligibility Documents required
For individual/Either or Survival
  • A Citizenship Identity Card photocopy
  • Two passport sized photographs
  • Legal stamp
For Non-National Individuals/Either or Survival
  • Work Permit copy
  • Passport copy
  • Legal stamp
  • Two passport sized photographs

DORMANT ACCOUNT

Savings Deposit Accounts are treated as dormant in case there is no operations i.e. debit or credit entry for 1 Year or more. Update your information (KYC) and make cash deposit in order to activate the account.

ACCOUNT CLOSING

A depositor wishing to close his account can do so by surrendering the passbook and unused cheque leaves along with an account closing form to the Bank.
For further information, please contact our nearest branch.

  • Call us on: 1095
  • Write to us at: [email protected]
  • Request Callback:+975