Equity Bank introduces new digital savings products to help its customers save seamlessly, grow their money, and reach their financial goals. Accessible through the bank’s mobile app and online platforms, the offerings include classic savings, call deposits, goal savings, and fixed deposit savings, giving current and future customers more convenient ways to manage and save money.
The new digital savings products were introduced with a disruptive campaign dubbed ‘Kaboxi,’ illustrating the traditional ways in which a vast population saves their money in a piggy bank. The campaign also highlighted the vulnerabilities of these traditional saving methods to theft and physical damage.
Equity Bank’s Managing Director Anthony Kituuka said, “As a bank committed to championing digital transformation, we are dedicated to introducing innovative digital banking products that simplify financial transactions and empower our customers to achieve their financial goals.”
Nelson Bamwiine, Equity Bank’s Senior Manager of Client Solutions and Business Integration said the new solutions align with the Bank’s mission to champion financial inclusion by offering integrated financial solutions that socially and economically empower its customers.
To start digital savings, a customer logs into his or her existing account, clicks on the saving icon, and picks the savings options of either Goal, Call, Classic, or Fixed Deposit savings. Customers will not only earn competitive interest on their savings but also the digital savings account bears no charges.
- The Goal digital savings account allows customers to save any amount towards short-term or long-term goals while earning daily interest.
- The Fixed Deposit account allows customers to save for long-term while earning competitive interest while on the other hand, the Call Savings account allows short-term daily savings that pay interest starting from a shorter minimum time and allow for partial withdrawal whenever the customer needs the money.
