Ordinary Savings Account

Deposit Products

Account Opening Procedure

  1. Two (2) Passport-sized photographs
  2. Minimum Deposit of GH¢10.00
  3. Personal Data of Customer
  4. The Customer should be 18 years and above and of sound mind
  5. Savings passbook is issued to the customer after registration

Features of the Product

  1. It attracts interest
  2. Any amount less than deposit balance of GH¢30.00 does not attract interest
  3. The interest is payable on monthly basis
  4. The account is declared DORMANT after 2years of inactive operation
  5. The account can be CLOSED under any of the following conditions:
    1. By the customer, on his or her own discretion
    2. Death of the customer after receipt of LETTERS OF ADMINISTRATION OR AFFIDAVIT from a competent Court of jurisdiction.
    3. When the customer fails to re-activate the account after 2 years DORMANT PERIOD

ALL CLOSED accounts are properly registered and kept under lock and key for future reference.

 

PLEASE NOTE

There are six(6) types of accounts available to customers of Ordinary Savings. They are:

  1. Personal Account
  2. Group Account
  3. Enterprise Account
  4. Partnership/Joint Account
  5. Institution Account
  6. Company Account

Personal Account
The demand for opening the account is the same as general requirement of Ordinary savings and Curent Accounts.

Group Account
Requirement shall be as follows:

  1. Constitution of the Group
  2. Resolution of the Group
  3. Bye-Laws of the Group

NB: It must be registered with the Co-operative office

Enterprise Account

  1. Registration Certificate OR Form A
  2. REGULATION

Partnership/Joint Account

  1. Partnership Deeds/Agreement
  2. Resolution

Institution

  1. Constitution
  2. Resolution

Company

  1. Certificate of Registration
  2. Certificate to Commence Business
  3. Regulation and Resolution