Ambition Savings Plan
The Ambitious Savings Plan is a traditional savings account backed by a current account.
It allows customers to accumulate a 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.
- 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.
- 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)
- 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.