Do you want to know the CalBank account types in Ghana?
Or are you looking for options to open another bank account with CalBank and don’t know which type of account to opt for?
Then this guide will help clear your doubts by providing you with information on the various account types that CalBank operates in Ghana.
In the paragraph below, we shall tackle all the known CalBank account types.
CalBank has, since its inception into the banking stream in Ghana has efficiently and tirelessly looked for ways to always provide its customers and non-customers to benefit from its services.
With over a million registered customers in Ghana, Cal Bank has broadened its range of accounts for everyone to choose from.
Ranging from saving accounts for kids to investment accounts, it has indeed created more room for many people in Ghana to still join their banking network.
Also, not only has CalBank made space for only Ghanaians, it has extended this warm advantage to non- Ghanaians and has given Ghanaians overseas the opportunity to still bank with them.
This is a wonderful banking experience for all.
Table of Contents
What Are The CalBank Account Types
Cal Bank had many bank account types in Ghana for all who chose to open an account with them.
For this guide, these different account types have been grouped into three major groups, namely:
• CalBank Savings Account
• CalBank Investment Account
• CalBank Current Account
All of these three account groups shall be elaborated on in the subsequent paragraphs.
Let’s start with Cal Bank Saving Account.
What Is CalBank Current Account
CalBank’s current account is a convenient and flourish account that is purposely for undertaking a daily financial transaction.
This means, if you are looking for an account that grants you daily access to your bank, then the current account is what you need.
As the name suggests (current), it permits you to withdraw and deposit whenever you want to.
Cal Bank Ghana offers three(3) different kinds of current accounts for its customers to choose from.
CalBank Current Account Types
Below is the different current account that Cal Bank operates in Ghana:
•Non-salaried Current Account: The non-salaried Current account provides its account holders the chance to make a daily transaction. There is no limit to the amount permissible for withdrawal.
This account is not only available in GHS, but you can operate it in other currencies.
These foreign currencies are the US dollars, The Euro, and British Pound.
This account attracts monthly charges.
Benefits Of Non-salaried Current Account
Some of the benefits include:
• Issuance of cheque
• Access to overdraft facilities
• Customers are privy to free advisory services
• No limit on the number of transaction
Salaried Current Account: This type of current account is also available for individuals to groups.
Its operation can be done in GHS, US dollars, Britain Pound and Euro.
It offers its customers all the services available on the Non-salaried Current account, including a personal loan offer of up to GHS100,000.00.
Executive Current Account: The current executive account is characterized by competitive interest rates, limitless financial transactions daily. Its advantages are enormous.
It provides its customers with a loan offer up to GHS200000.00.
It also provides an insurance policy for its account holders and access to Cal Bank Gold Card.
Requirements To Open CalBank Current Account
Below are the general requirements for opening Cal Bank current account in Ghana:
• One passport-sized photograph
• Initial minimum deposit
• Valid National ID
• Proof of residential address
• Application form of specific current account
What Is The Minimum Account To Open Account
The minimum amount needed to open a Cal Bank current account is GHS1000.00.
This is the financial minimum initial balance for all Cal Bank current accounts in Ghana.
How Much Is Rate For CalBank Current Account
As of the time of writing this article, the interest rate for Cal Bank Current account stands at 0.25%
Cal Bank Saving Account Types
The types of savings account available at Cal Bank Ghana are:
• Kiddy Save Account
• Cal Bank Students Account
• Cal Bank Flexible
• Cal Bank premium Account
Requirements To Open Cal Bank Saving Account
Below are the general requirements to open a saving account with Cal Bank in Ghana:
1. A valid National identification (This include any of these, Voter ID, passport, Ghana Card, and Driver’s license)
2. A passport-sized picture
3. Proof of residential address and postal address
4. Initial minimum deposit
5. Proof of company registration (for corporate)
Who Can Open CalBank Saving Account
1. Cal Bank Saving account is open to anyone who is 18 years or above
2. Students in the tertiary institution can also apply to open. Saving account at any Cal Bank branch in Ghana
3. For individuals below 18years, their parents or guardians can open an account In-Trust-For (ITF) minors.
All activities in their account will be subject to the control of the parent/guardian.
When the kid is 18 years change of ownership is to be done.
Minimum Amount Needed To Open Cal Bank Saving Account
The minimum amount needed to open a CalBank Savings account in Ghana are as follows:
1. Cal Bank Flexible account requires a minimum deposit of GHS10.00
2. Cal Bank Students account requires an initial minimum deposit of GHS10.00
3. An initial deposit of GHS20.00 is assigned for Cal Bank kiddy Save account
4. Cal Bank premium account demands an initial minimum deposit of GHS500.00
5. For Small Medium Enterprises ( SMEs ), a minimum amount of GHS100.00 is required
6. Corporate organizations will require a minimum amount of GHS250.00 to activate their account
How Much Interest Can I Earn On My Cal Bank Savings Account
Interest yielded from a savings account in Cal Bank Ghana is calculated based on your deposit amount.
This implies that, for more interest, you need to deposit more.
Types of CalBank Investment Account
Below are the types of investment account you can purchase at Cal Bank in Ghana:
1. Cal Bank Investment Account (CIP)
2. Fixed Income Securities
3. Cal Bank Super Save Account
4. Fixed Deposit Account
5. Treasury Bills
Requirements To Purchase Investment Account
The following are the requirements to open an investment account with Cal Bank in Ghana:
• You need to fill the investment form
• You need to have a CalBank account
• One passport-sized photograph
• A valid National ID
• Minimum Amount to be deposited
What Is The Minimum Amount Needed To Start Investment Account
The minimum amount to GHS50.00 with this amount, you start to earn interest on your deposit.
So, to earn interest on your money with Cal Bank investment, you must have a minimum of about 50 cedis in your account.
How Much Do I Earn As Interest On CalBank Investment Account
Interest earned on CalBank Investment account in Ghana is tiered.
This implies your interest is dependent on the duration of investment at the principal amount invested.
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