OPEN AN ACCOUNT

Brand

Quicklinks

Savings and Investments
Savings and Investment Packs

Ambitions Savings Plan |

Currency Swap |

Treasury Bills |

Fixed Deposits |

Call Accounts |

Ambitions Savings Plan

The Ambitious Savings Plan is a traditional savings account backed by a current account. It allows customers to accumulate progressive savings depending on its financial capacity.

At the end of a period of 12 months minimum and 12 regular payments via standing order, the customer can benefit from a facility to finance a project (ambition). The loan amount is up to twice the amount accumulated via standing orders.

Savings
The Ambitious Savings Plan must always be backed by a current account with a Letter of Undertaking.
Savings, which will be the loan calculation base, must be constituted by 12 standing orders from the current account.
The customer chooses the amount of his standing order according to their project and his income (GHS 25.00 minimum).
Withdrawals are not allowed at all.
Savings Plan cannot be terminated before repayment of loan.
After repayment of loan, the customer can change the amount of his Standing Order.
Exceptional deposits are allowed but will not be used as part of the calculation of the loan amount Interests are paid monthly.

Ambition Loan

The loan amount is equivalent to twice the amount saved and with a maximum DSR of 40% (whichever is lower).
Maximum loan amount is GHS 100.000.00
Maximum loan duration: 60 months
The customer can start another Ambitious Savings Plan while benefiting from the loan.
Ambition Insurance will be taken to insure against disability or death.
(Price not included within the package fee)

Benefits:

Realize your ambition
Earn attractive interest on your deposits
Access a loan
Affordable and flexible repayment
Loans competitively priced

Documents to produce:

1 passport size picture proof of identity (Voters’ ID, Drivers’ license, etc…)

Proof of address (Utility bill, tenancy agreement, directional map, etc…)

Letter of Undertaking and/or Scheme agreement

Last three pay slips and/or six months’ bank statements (when applying for a loan for the first time)

Copies must be supported by originals for verification.

Title(Required)
Name(Required)
Already a customer at BOA(Required)
Consent(Required)
Currency Swap

Is a currency trade with one currency converted into another and “swapped” back on a pre-determined date in the future.

Considerations for

Effective cash management tool

Gives customer the ability to bring forward or delay exiting transactions

Considerations against

Depending on the interest rate differential, there could be a change to the transaction

Margin/collateral requirement

Title(Required)
Name(Required)
Already a customer at BOA(Required)
Consent(Required)
Treasury Bills

Short term investment with a maximum investment period of 365 days.

Features.

  • 91-day bill
  • 182-day bill
  • Part or all of the investment may be withdrawn (at a discount) before maturity
  • Roll-over option (with or without interest)
  • Third-party investment is allowed.

Title(Required)
Name(Required)
Already a customer at BOA(Required)
Consent(Required)
Fixed Deposits

Placement of funds for a fixed period of time at an agreed rate.

Features.

  • Maturities range from 30 days to 365 days
  • Minimum deposit amount of GHS 5000
  • Funds deposited are accessible only on maturity
  • Third party investment allowed.

Title(Required)
Name(Required)
Already a customer at BOA(Required)
Consent(Required)
Call Accounts

Placement of funds with no specified maturity period

Features:

  • Investor needs not have personal or corporate account
  • Investor/depositor can terminate arrangement by giving due notice based on an agreed notice period
  • Minimum deposit amount of GHS 50,000
  • Part or full amount deposited accessible any day on notice.

Title(Required)
Name(Required)
Already a customer at BOA(Required)
Consent(Required)