Most customers of the various banks in Ghana usually complain of low or zero interest on deposits on savings accounts with their banks.<\/p>\n
Depending on your bank you will need a minimum amount of cash before you will earn an interest on your savings.<\/p>\n
According to the figures from the Bank of Ghana as at December 2014, the bank which will demand the most money in order to earn an interest from them on your savings account is Standard Charted bank.<\/p>\n
Customers of that bank must have at least two thousand Ghana cedis as minimum balance to earn an interest on their deposit.<\/p>\n
That figure, the highest in the industry, places Standard Charted bank at our number one spot.<\/p>\n
The number two spot is filled by 3 banks they are Barclays bank, Societe Generale and National Investment Bank (NIB).<\/p>\n
To earn an interest on your savings account with these three banks you need to have a minimum of 500 cedis.<\/p>\n
While Cal bank, GT Bank, Universal Merchant Bank (UMB) and Fidelity bank come in at number three for banks with the highest minimum balance required to earn an interest on savings account.<\/p>\n
Customers of these banks must have at least 200 Ghana cedis in their savings account in order to gain some interest.
\nFirst Capital Plus bank comes in at number four with 100 cedis.<\/p>\n
It is followed by Stanbic bank, United Bank for Africa (UBA), GCB and ADB who all require their customers to have a minimum of 50 cedis in their savings account before they pay them interest.<\/p>\n
At number six is Ecobank at above 30 cedis while Energy bank, Unibank and HFC bank follow with 20 cedis.<\/p>\n
Access bank comes in at number 7 with 10 cedis.<\/p>\n
But for Prudential bank with as little as 1 cedi in your savings account you will earn some interest, think that is the best deal, well not quite, because the best deal comes from First Atlantic Bank, bank of Baroda and Sahel Sahara bank, these three banks will offer you interest on any balance you have in your savings account no matter how small or big it is.<\/p>\n
Yet to see the name of your bank, well it falls in what we call, ‘the not applicable category’.<\/p>\n
That category is filled with a bunch of banks that registered nil in how much their customers need to have, to earn an interest on their savings according to the Bank of Ghana report.<\/p>\n
They are First Bank of Nigeria (FBN), Zenith bank, Bank of Africa (BOA), UT Bank and Royal bank.<\/p>\n
By: Vivian Kai Mensah\/citifmonline.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"
Most customers of the various banks in Ghana usually complain of low or zero interest on deposits on savings accounts with their banks. Depending on your bank you will need a minimum amount of cash before you will earn an interest on your savings. According to the figures from the Bank of Ghana as at […]<\/p>\n","protected":false},"author":14,"featured_media":52356,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[19],"tags":[4],"yoast_head":"\n