5-Year Lock-in Period
About Medɔba Account
This is a savings product designed to help the trustee secure the education of their dependents who are less than eighteen (18) years of age to any high level possible — whether they are alive or not or when they are rendered incapacitated. The product gives the beneficiary a head start in life and helps cultivate a healthy savings habit in children and young adults.
Key Features
- Monthly deposit of GH¢50.00 and above
- No withdrawals permitted for the first five (5) years
- Deposits can be made by parents, guardians, or any person above 18 on behalf of the beneficiary
- Standing order available for salary earners for automatic monthly deductions
- Designed for dependents under 18 years of age
10% p.a.
Competitive interest rate — subject to periodic review to ensure value for your money and maximize returns on your child's future savings.
Benefits for Your Child's Future
Gives the beneficiary a head start in life — financially secure from an early age
Helps cultivate a healthy savings habit in children and young adults
Interest on an account helps customers earn as much as possible on their savings
Protection for your child's education even if you're no longer around or incapacitated
Flexible deposit options including standing orders for salary earners
Discipline of a 5-year lock-in ensures consistent savings growth
