MoneyMaster PSB Boosts Savings With Generous Interest On G-Kala Accounts  

Posted on September 15, 2023

MoneyMaster Payment Service Bank (MMPSB), established by Globacom, has upped the game for G-Kala savings account holders as it announced an 8 per cent annual interest on their savings accounts with the bank.

The novel plan is being put in place by the payment service bank to promote the culture of savings among new and existing customers of the bank and also to promote financial inclusion in the country.

According to a statement issued by the bank in Lagos, “both new and existing G-Kala savings account owners will enjoy 8 percent interest rate per annum for all deposits made into their G-Kala savings account.”

However, the customer “must ensure not more than a maximum of three withdrawals is carried out in a month. The interest amount will be calculated and credited monthly,” the statement added.

The bank hopes to use this incentive to also drive the adoption of cashless banking among potential customers who can log on to its website for a convenient and seamless account opening experience.

For this class of customers, they need to visit or dial *995# on any phone to start a refreshing banking experience.

“This is an exciting opportunity for all to open a G-Kala account with MoneyMaster PSB, deposit money on the wallet and enjoy 8 percent interest rate per annum,” the statement added.

G-Kala is a specially designed product for the benefit of customers who may not have easy access to banks and also the unbanked population.

G-Kala brings the benefits of banking to their phones through the USSD, which eliminates the need for internet.

It enables them to deposit, withdraw money, send money to other banks, buy airtime as well as pay bills such as electricity, water, DSTV, etc.

It offers a convenient and safe alternative for banking transaction anywhere and anytime as it works real time, making it safer, faster, more convenient and cheaper than the traditional money transfer services.


Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

As part of activities to mark the 2024 World Environment Day, Nigeria’s wholesale financial... Continue
MAZI EJIMOFOR OPARA  The place of Nigeria as presently structured is not supportive of... Continue
The Kwara State Governor, AbdulRahman AbdulRazaq, has sent his condolences to the family, Offa... Continue
Billionaire tycoon, Femi Otedola has splashed a whopping $11.3 million to acquire additional 2.22... Continue
MICHAEL AKINOLA  A 24-year old man, Oyeola Olamide, has landed in trouble in Lagos... Continue
The Honourable members of the Federal House of Representatives, who were earlier scheduled to... Continue
IZUCHUKWU ADICHIE    The election of Soludo as the vice-chairman of the Southern Governor’s... Continue
MICHAEL AKINOLA  A 24-year old commercial driver, Abdul Hudu, has been sentenced to life... Continue
In a significant move to support and empower women in Edo and Ondo slStates,... Continue
DAVID OKPOKWASILI  Anambra State Government, through its Ministry of Special Duties, has commenced flood... Continue


Access Bank