Ans: Prudential Bank has a variety of accounts tailored to the needs of our customers.
These include:
- Prudential Welfare Savings Account (PWSA)
This is a special savings account designed to assist you in purchasing basic household items such as television sets, microwave ovens, and refrigerators, paying medical bills, and other urgent family commitments. With a Prudential Welfare Savings Account:-
- Account holders qualify for a special loan of up to 120% of the balance on their accounts.
- Account holders enjoy a 2% reduction in the interest rate on loans.
- No collateral is needed for this loan; the balance on the account is used as collateral.
- Account holders can still withdraw money from their accounts during the loan period.
- Prudential Business Savings Account (PBSA)
This savings account is designed to provide financial assistance to existing and prospective customers wishing to expand their business or set up a new one. Account holders enjoy the following benefits.
- A 1.5% interest above the Banks savings account rates.
- A special loan of up to 150% of the account balance for expanding the business or setting up a new one.
- A 2% reduction in the interest rate on loans.
- Account holders can still withdraw money from their accounts during the loan period.
- Prudential Micro Savings Account
The Prudential Micro Savings Account (PMSA) is a special account designed to encourage micro to small businesses to save daily towards growing their businesses or meeting personal financial commitments such as school fees and acquiring household appliances. This account comes with a loan package designed to provide a convenient, flexible and affordable means of securing a credit facility. Benefits include,
- Low initial deposit on the opening account.
- Free daily cash collection services at your doorstep.
- Free transaction notification.
- No COT/Account maintenance charges.
- Competitive interest earnings on account balances.
- Use of account balance as security for a loan.
- Flexible repayment schedule on loans.
- Prudential Child Advantage Account
This account is a savings/investment account designed to help parents and guardians save and invest toward their children’s education and future.
The features of this account are:
- An initial deposit of GHS 50.00
- Minimum additional monthly deposit of GHS 50.00.
- A minimum balance of GHS 200.00 should be maintained at all times after one (1) year.
- One withdrawal is permitted on the account every quarter.
- Interest on the account is earned on a daily basis and applied at the end of the month.
- The account is transferrable upon request by the parent or guardian when the child attains 18 years.
- Quarterly statements will be provided upon request.
- Pbl Account Holder Plus
This account is specially designed for permanent staff of selected tertiary institutions customers of PBL. This account is aimed at giving tertiary institution staff convenient, flexible, and affordable means of acquiring property. Features of this account include,
- Low initial deposit
- No COT / Account Maintenance charges
- Free ATM card
- Free transaction notification (alertwise) service
- Free mobile Banking (Mobiwise) service
- Minimal charge on the use of other bank gh-link enabled ATMs
- Competitive interests paid on account
- Free e-zwich card, a minimum deposit of GHS 5.00 interest paid on wallet balance of GHS 20.00 and above.
- Low Interest on loans
- Low processing charges
- Quick loan processing turnaround time
- Flexible loan repayment terms
- PBL Home Base Account
This is a cedi-denominated account of Ghanaians resident abroad who wish to build up funds in Ghana to fund future projects or to finance an eventual homecoming. Deposits made in a foreign currency will be converted to Ghana cedi at the prevailing exchange rate and proceeds invested. Withdrawals and payments made on the account are in Ghana cedi only.
Features:
- Designed for Ghanaians resident abroad
- Requires regular weekly/bi-weekly/monthly deposit of a minimum of GHS100.00 into the Home Base Personal Savings account
- Withdrawals can be made in Ghana or upon receipt of the account holder’s written instructions (giving details of the beneficiary).
- No service charge on the account
- Amounts saved may be used as collateral for a credit facility.
- Interest rate on this account is linked to the Bank of Ghana policy rate.
- Savings amounts up to GHS 5,000.00 will attract interest at Bank of Ghana policy rate minus eight percentage points per annum subject to quarterly review
- Savings amounts above GHS 5,000.00 will attract interest at Bank of Ghana policy rate minus six and a half percentage points per annum subject to quarterly review
* Please note that the current Bank of Ghana policy rate is subject to review by the Bank of Ghana*.
- Pbl Church Plus Account
This account offers a variety of products and services tailored for churches, church employees and congregation. This account provides churches the avenue to operate various connected accounts to help meet goals and thereby serve the congregation. The various account types under Church Plus include,
- Church Administration Current Account
Helps the church to manage its daily financial transactions including settling church expenses, receiving tithes, offerings and other receipts.
- Church administration savings account
Allows the church the flexibility to save at its own pace.
- Project Account
Enables the church to build up funds for specific projects and also to apply for credit facilities to finance projects.
- Fixed Deposit Investments
The Church may place excess funds on fixed deposit for periods up to one (1) year with a rollover option for principal and interest or principal only.
- Sweep Facility (Call Account)
Allows the church to earn interest on funds not needed immediately and also make funds available for use when needed.