Bank Windhoek wants to encourage saving

Home Business Bank Windhoek wants to encourage saving



Bank Windhoek is offering Namibians an opportunity to kick-start their saving habit by running a competition whereby clients who open specific savings products stand the chance to be rewarded with total prize money of N$20 000.

“The habit of saving regularly has enormous benefits for you, your family and loved ones. By adopting a habit to regularly save, you make provision for your future, be it your wedding, that dream holiday, your child’s education, renovations to your house or welcoming a new member to your family. By saving today, you will be able to provide for your needs in the future,” says Marlize Horn, executive officer responsible for marketing and corporate communication services at Bank Windhoek.

To encourage clients to start saving, or add to their current savings portfolio, Bank Windhoek will reward two clients with N$10 000 each to reward them for their savings habit. “If you open either a SureSave or a Prime Linked Deposit account between May 9 and  June 20, Bank Windhoek will add N$10 000 to the winners’ accounts. The N$10 000 cash prize money will be deposited into your newly opened account. Imagine all the financial goals you will be able to reach,” said Horn.

“With as little as N$100 per month you can start in your quest for financial freedom with a SureSave account. It is a one or two year contractual savings plan where you agree to invest a fixed amount monthly for the duration of the investment. In return the bank offers a prime linked interest rate that is highly competitive. The high prime linked interest rate will also be attractive for the savers out there who place a high premium on returns,” Horn explained.

The Prime Linked Deposit Account is Bank Windhoek’s latest innovative savings product. The new additional 12-month fixed deposit  offers a return at a fixed margin below the prime overdraft rate. “This investment is a fixed amount for a fixed term, but at an interest rate which will change whenever Bank Windhoek’s Prime lending rate changes.

“In the current environment of rising interest rates, this means your investment return reprices upwards when prime rates increase,” Horn said.