Stanbic Ibtc Bank Introduces Savings Product

Stanbic IBTC Bank has urged customers to take advantage of its Max Yield Savings Account (MYSA).

In a recent report, the bank, said MYSA is a high interest paying account that pays interest at fixed deposit rate (currently up to 6.2% per annum) on savings balances of N100,000 and above.

This, it stated increases the interest returns enjoyed on the account in excess of the regular savings account rate.

The product is one of the bank’s bouquet of products aimed at providing medium savers who may not have the large amount required to open fixed deposit accounts the benefit of both fixed and savings accounts in one account, the bank added.

Head, Personal Banking, Stanbic IBTC Bank, Nkolika Okoli, said the product was introduced to help customers achieve their savings and investment objectives. According to her, in line with the retail banking drive of the Stanbic IBTC Group and the financial inclusion policy of the Central Bank of Nigeria, the bank would continuously explore ways to develop financial solutions that are relevant to the financial and economic aspirations of Nigerians.

She further stated, “Max Yield was developed to ensure customers get better returns on their savings, which we believe will help them achieve their savings and investment objectives in a disciplined and profitable way. Although one of the set objectives of Max Yield is maximizing returns on savings/investments, funds invested or saved in this account are left readily available and accessible to the account holders.”

“With the rich experience and expertise the bank has as a member of the Stanbic IBTC Group, we are determined to churn out innovative products and services that are not only relevant to the economic aspirations of Nigerians but also that will help them achieve those aspirations much faster,” she added.

Max Yield is an investment account that enables customers to save in a regular and disciplined way for future need or for specific purposes and projects.