Wema Target Savings Account (WETSA)
Description
A flexible savings account that allows the customer the freedom to choose the purpose of savings, target savings amount and tenor, with attractive interest rates.
Features
· Flexible account opening balance
· Flexible saving frequency – daily, weekly or monthly
· Minimum monthly savings target of N2,000
· Normal savings interest rate
· Standing order for deposits acceptable
· Bonus interest payment (set at 30% of normal savings rate) for non-withdrawal within 3 months
· Accumulated balance can be used as equity contribution or as security for consumer loan(s)
· Access to e-banking channels
Benefits
· Receive Transaction Alerts through SMS and e-mail
· No restrictions on transaction frequency or volumes