Opening of savings account at Ghana Commercial Bank requires certain essentials without which you can not open the account.
In this guide, I will do you the honor and tackle some of the essentials, particularly the amount you will need to open a savings account at Ghana Commercial Bank.
Opening a bank account demands no charge or cost. However, there is an initial deposit which you will need to make into your account to activate the savings account.
For a savings account, this initial minimum must always be maintained, and you cannot withdraw it no matter what.
You only have the chance to initiate withdrawal only when you have changed your savings to current accounts.
How Much Do I Need To Open A GCB Savings Account
The amount you pay when you open a savings account with Ghana Commercial Bank is not termed as payment for the banking service, and rather it is an initial deposit that is made in your account name with your account number to your account.
The amount you need to open a savings account with Ghana Commercial Bank is Gh 40.00 for individuals.
What Is Ghana Commercial Bank Savings Account
This is a type of account that is opened purposely for keeping funds for future use to avoid financial inconveniences in the future.
The GCB savings account is open to all ages, whether you are young or old.
Can I Withdraw All My Money From My GCB Savings Account
Unlike the GCB current account, which you can withdraw up to your last pesewas, the savings account does not operate in that same fashion. You cannot withdraw all your money from your savings account.
You always need to leave a minimum account operation balance of Gh¢ 5.00 if you want to withdraw everything.
What Is The Interest Rate On Savings Account For GCB
Ghana Commercial Bank offers interest rate for all savings account, and these interests are attached per annum.
For a savings account to attract interest, the minimum initial deposit for the savings account should be Gh 50.00.
The interest rate differs from the type of savings account you have opened, they as follows:
• For the KidiStar account, there is an interest rate of 5% that it attracts per year
• For the Flexsave account, your money attracts an additional interest rate of 4% per year
• For the trust account, you will receive an internet rate of 5% on your deposit at the end of the year.