The Stanbic Call Deposit Account is a versatile savings option that offers the best features of both Savings and Fixed Deposit accounts. With this account, you can access your funds at any time, while still earning a competitive interest rate on your savings. This makes it a convenient option for individuals and businesses looking to earn interest on their funds without the restrictions of a fixed-term deposit.
Stanbic Call Deposit Account
One of the benefits of this Account is the flexibility it offers. You can deposit funds whenever you want, and there are no limits on the number of deposits or withdrawals you can make. This allows you to manage your cash flow effectively, while still earning interest on your savings.
Another advantage is the interest rate. The Stanbic Call Deposit Account offers competitive interest rates that are higher than those offered by traditional savings accounts. This means you can earn more on your savings and maximize your returns.
Benefits of Stanbic Call Deposit Account
Here are the benefits associated with this Account.
Global: You get to earn interest in the major currencies of the world.
No penalties: There are no penalties on withdrawals
Flexibility: You get access to your funds while earning interest on the account
Mobility: You can download the app to your device. You do not have to visit a local branch.
What to Expect
Outlined below is what you receive with the Stanbic Call Deposit Account.
- You get the flexibility of a savings account while you earn good returns on the balance you maintain.
- You receive no penalties on withdrawals and you do not forfeit your interest when you do multiple transactions on the account.
- Your interest is calculated daily and paid at the end of the month
- It is available in USD, EUR, GBP, ZAR, or Naira.
- No maximum balance is required on this account but the minimum balance of N100,000, $5,000, or equivalent in other currencies will apply.
- You can make withdrawals from your call account without forfeiting the interest you earn.
- You get to pay only a 10% withholding tax on the interest accrued.
How to Open a Stanbic Call Deposit Account
To open this account, you will need the following.
- Minimum opening balance of N100 000
- Application form
- 2 recent passport photographs of each signatory
- Each signatory’s valid ID card
- BVN of each signatory
If you have an existing account already, you will need a:
- Letter of request and signed Ts & Cs
Then, you visit any Stanbic bank location and request for an account opening.
What it Cost to Activate this Account
This Account will cost you a minimum account opening balance of N100,000, $5,000 or equivalent in Euro, Pound, or Rand.
Conclusion
The Stanbic Call Deposit Account is a reliable and convenient way to manage your funds while earning interest. Whether you’re an individual or a business, this account offers the flexibility and features you need to make the most of your savings.
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