Fidelity Bank in partnership with MTN MoMo has upgraded the Y’ello Save Account with a savings plan feature to encourage customers to adopt the habit of savings.
The upgrade offers customers the opportunity to set up a standing instruction on their Y’ello Save Account to automatically debit a specified amount of money from their MoMo wallets into their Y’ello Save Account on a daily, weekly or monthly basis. This can be done by simply dialing *170# and following the prompt.
Speaking on the upgrade of the Y’ello Save Account, Managing Director of Fidelity Bank, Julian Opuni said, “We are committed to expanding financial services to the underbanked and unbanked population in the country and our partnership with MTN Ghana for the roll-out of the Y’ello Save Account is one of many initiatives to achieve this goal.”
We understand that saving money requires a lot of discipline, and we’re making this easy for our customers by automating the savings process to enable them to save effortlessly”, he added.
Commenting on the initiative, Eli Hini, the CEO of Mobile Money Ltd, commended Fidelity Bank for the upgrade of Yello Save service noting it will encourage more people to adopt the savings culture and deepen financial inclusion.
He said, “the Yello Save service has been widely accepted by MoMo customers and testimonials we have received since its launch is that Yello Save provides a convenient option for personal savings and investment. For business owners, it serves as an expedient option to save sales revenue received through MoMo.”
Eli Hini said Mobile Money Limited is very hopeful that the new feature will help customers achieve financial independence and ultimately help business owners expand their business whilst driving economic growth.
With an interest rate of up to 8% per annum, the Y’ello Save Account is a savings account that was introduced in 2016 by Fidelity Bank in partnership with MTN Ghana to offer MTN MoMo Customers the opportunity to save funds on their MoMo wallets and enjoy an attractive interest rate on their Y’ello Save Accounts.
Fidelity Bank ‘s partnership with MTN Ghana, forms part of the Bank’s “Together We’re More” brand promise that views success as a collaborative effort among key stakeholders working together towards a greater good.
Education4 weeks ago
Prof. Badu Akosa, Ashigbey, Egyekumhene, Others join Board of MOSES Foundation
General News4 weeks ago
107th IDIF : $35m pharmaceutical plant opens
Entertainment3 weeks ago
Vody Vodka Energy Mix: Energy Drink Of Destruction
Company/Corporate News7 days ago
Abola Traditional Council affirms support for Jospong Group
General News3 weeks ago
CEIA boss cautions mining communities on health consequences of mining
AgriBusiness2 weeks ago
Fairtrade report explores possibilities for accelerating progress on sustainable livelihoods for Ghanaian cocoa farmers
Company/Corporate News3 weeks ago
JICA Trains and Donates to Immigration Officials and Ghana Health Service
General News3 weeks ago
Perseus Mining, businessman clash over TV set, refrigerator