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. Manual deposit will have to be made 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 a written application to the Bank.
For further information, please contact our nearest branch.