Access Bank Zambia limited has embarked on a product promotion drive aimed at encouraging parents to open bank accounts for their children who are below the age of 14.
Access Bank Commercial and Consumer Banking Officer Isabel Chengo says there is need for parents to prepare for the future of their children by opening savings accounts for them.
Ms Chengo says with the current global economic crunch people should consider saving as the way they can prepare for the future and overcome economic problems.
In an interview with ZANIS shortly after presenting an account number to six year-old Maria Kuwani of Lusaka.
Ms Chengo explained that Maria is the youngest account holder with K1, 000,000 in her account which will accrue an interest of three percent per annual.
She stated that parents should explain to their children on the importance and the benefits of banking.
And Maria’s grandmother Josephine Mehl bemoaned the lack of interest in saving among youths in the county.
Mrs. Mehl noted that there is need for parents to ensure that they install a culture of saving in their children.
She said saving money was one of the ways children could contribute to the economic growth of nation.
Mrs. Mehl has since called on other parents and guardians to take advantage of the new bank product and ensure that the future of their children was secured by opening bank accounts for them.
ZANIS/MM/AM/ENDS
sounds good
let me read first
Ms Chengo explained that Maria is the youngest account holder with K1, 000,000 in her account which will accrue an interest of three percent per annual.
Ala these Nigerians, they have already started swindling our people. 3% per annum for a savings account when inflation is 15-20 %. Maria your money will be worth less in a year, take that 1 million elsewhere. These guys will lend that 1 million to somebody else at 40% interest. This is a scam and a rip off.
To bank which money
This is very good.
Awe i’d rather keep it in my own account as a mother mwati fyakukwata ama accts hopo… [-x[-x ways
#5 what is good about these. Which school of finance did you go to. Or are you mathematically challenged?
I still maintain this is a SCUM. 3 % per annum for a saving account is as good as money under your mattress with the inflation condition in Zambia
Hahaha pamene apa bayamba khuba tili dwiiiiiiiii!!.
#7 iwe thats what u can tell your friend.pipo can talk kwena
3% per year!…this is a joke of the YEAR.Maria try other banks with better interest rates.
ala under 14 they are not supposed to be working
If you left you money say K40 million in a Zambian bank for say 5 years, you will have that money drastically reduced. I know of a Bank that will give you K15,000 as interest per month, remove 1% from the K15,000 as medical levy but end up charging you K20,000 as maintenance fee. The same bank will not allow you to withdraw over the counter claiming that you need an ATM card and should use the same at all times. To withdraw from the counter you are made to pay K50,000. Meanwhile BOZ is busy telling us that they are there to serve us. It sounds like fiction but it is true. Then per every ATM transaction you make you are charged K2,500.
Bravo to the Indians who keep money at home.
Papa j
This is not about how inteligent you are or the school i went to.This is abt planning for the future for your children well.No wonder we have alot of street children because of people like you.Save money for your children in their own accounts not yours coz am sure is is pipo like you who do property grabbing.
Just come to us will show u how to access yo loans and run away
13
I know the bank you are talking about. IT IS STANDARD CHARTERED BANK PLC OF ZAMBIA. Yes what you have written about them is true.If you went to their branches, they have very few tellers just to prop up the issue of withdrawing from the ATMs.
#4 Umwina kalale, Thats a good question, which money should one bank for the child when most zambians are not having enough to feed them and take them to school at the moment. The 3% interest anually is too small and the money will be worthless by the time the child needs it, not forgeting the bank charges which will be effected probably every month!! It sounds a good idea but the actual benefit is too small!!!
I dont trust Nigerian activities.I would rather support investment of fellow zambians.Its sad that govt dosnt seem to trust or have confindence in Zambians.
Its Nigeria cumin wth their 419.
14
If say you saved some money so that the interest will be able to pay off the requirements of your child’s education do you think 3% per annum will be of any good to your cause. How many people do you know who have that extra kwacha at the end of every month to save for their children. Do you mean to tell me all the street kids you see, that is how their parents wanted them to end up. Saving to say the least is not possible in Zambia. Look at how even those that served at say the level of Bank Governers of BOZ keep running to the office of the president when the person in that office is their friend. NJALA MY FRIEND. YOU CAN NOT BE SECURE IN ZAMBIA IF YOU DO NOT STEAL DURING YOUR TIME
14# :d :d :d you have an awesome sense of humour my friend. I bet you can’t just admit that this deal is a rip off, but had to find a way to defend your position. Anyway it’s ok boyi. This is a free blog. I would rather keep my money with ZANACO. They pay higher rates than this, or better still I will buy a zambeef share on LuSE and they have a dividend yield of about 10 % per year and you get capital growth as well. That is where I keep my children’s money. Not this Nigerian SCAM. By the my friend, any idea about the interest you pay when you get a loan. I have never borrowed money so I have no clue, but am sure it is not anywhere near 3 %. These guys will make a killing with your cash
“Access Bank Zambia limited has embarked on a product promotion drive aimed at encouraging parents to open bank accounts for their children who are below the age of 14.”
HOPE YOU DO NOT GIVE THE CREDIT CARDS AND MAKE THEIR PARENTS ACCOUNTABLE!!!
ILI LYASHI LIA NKONGOLE!!!!!! [-x[-x[-x[-x[-x[-x[-x[-x[-x[-x
With the way things are going. I wouldn`t put money in a bank, let alone this one.
Mwisaka kupilo batata!
#20
I didnt say all the street kids.
papa j
Am happy that atleast you can save with zanaco.Thats the idea…SAVING FOR YO CHILDREN…..
THE STORY OF CARDSON KABWE.
Typical of Zambians. Just like a hot air ballon, too full of air and soaring to the greatest heights and the next moment deflated and on the ground.
We are a nation that lack tenacity and continuity and yet we are quick to blame politicians with their short term planning and mind set. Yet they are a product of the mould in which a zambian is made. Quick from the starting block and last to the finishing line. South Africa in its infancy has given itself a constitution to be proud of but here we are debating how to treat thieves who are as clear as black and white.
good idea wrong investment vehicle
3RqU tamumfwa shikalubapofye
Like Ba Maureen puts it
” The best bank is the Mattress, it can only be liquidized nga bambi basunda”!
:d
Those kids have no future when their parents are gone. Nigerians cannot be trusted fully. Free Warning!
Iwe Jamaco, ulenkalifya imbafu! Ala..ati liquidiased nga basunda”:))=))
Tell me, which money are you talking about?
My salary is K8,000,000 per month
1. School fees = K5,000,000
2. Groceries = K1,500,000
3. Fuel = K 600,000
4. Pay as you lose = K2,300,000
5. Salary advance = K1,000,000
6. Zesco = K 200,000
7. DSTv = K 360,000
8. Talk time = K 300,000
9. Land rates = K 60,000
10. Water = K 100,000
11. Maid = K 300,000
12. Entertainment = K 150,000 (castle lager for myself)
13. car loan = K1,200,000
14. house loan = K 850,000
15. household loan = K 380,000
Before parents get exited,I advise that they understand the real essence of keeping money in a bank.The idea is not as attractive as it appears at face value.Most Zambians think it’s better to keep their money in a bank because it is quite difficult to squander or misuse it when it is kept away from home…WRONG!!!I advise that,that mother wihdraws the money and spends it herself before Access Bank spends in style;I mean through Bank charges and other obscure explanations
Zoe ifintu tafili gudu with banks sure even here! The last people you want to trust your money with are those brodas:d
Please note that I’m already in minus.
Baby C HELP. How do I save for my children?
Yaba sister so total minus bwanji?
jamaco…
you are so funny,melensekesha. ine mwe,but yak i think i will just keep it frm home mwe.kwimba akalindi mu bedroom.
SISTER naimwe
#32 chantmore
yes walasa,the idea behind it is to not as good as is seen on the outside.moreover the money will be gaining interest which will not even cpme to the children instead the bank will lend people the same money and get interest so they are the ones that will benefit not our children,
SISTER MWAYASANA WITH YOUR BUDGET AND WITH THIS GLOBAL FINANCIAL TAMWAPUSUKE
G BABY KUPANGA AKABOKOSHI KAMAPULANGA NAKAPUNDA PAMULU
Bane tamumfwa. So limbi muli bakulu. But you really increase my
life span by giving me a good laugh every day.
To everyone,
Sorry to bother you with my nonsense request,But if you see Man Kunde Please mundishisheko umunsoli.Nantumina ici Chinese I can see any thing.
Thanks mwe Lupwa. :-j:-j:-j:-j:-j
Guys is Access bank for Nigerians? ::o
Matworld bwela kuno iwe. :-j:-j:-j:-j:-j:-j:-j:-j
Sister! You are naughty!
Hmmm! Cut your entertainmet expenses from K150 to 75pin, Talktime, from K300 to ..lets say 150pin or less. You save 225pin for Access bank! the rest, i deem them very important!
Jamaco plse plse am in the office ….
#
45.Baby C .You really seem to have practical solutions to Zambia s problems,please keep it up.I have followed your contributions closely today and to sum up am impressed.
Ba sister, nothing personal but why would you get a loan to buy a car and house hold goods. That is not wise borrowing, why not borrow to invest in something more profitable. once you’ve made your profits pay off the loan. my suggestion is to downsize some of the items on your budget list. again nothing personal
The MD of Access Bank is a very qualified zambian (see yesterday’s Post) Now why are you Zambians already pointing fingers are Nigerians. Blame your fellow Zambians making decisions for this Bank
With a Nigerian? no ways, I can’t risk my money..oooh.[-x
Choma 1
Really! thanx a lot dear :*
Baby C the entertainment helps. Atleast I dont do ubuule,
and I have to be on the phone all the time…….begging for handouts. Typical Zambian
Ukupusuka ni by the Grace of the Almighty. Tulibakali. Nizee
Iwe ka SISTER iwe ni budget ya bwanji iyo; siyibalansa! Where do you get the extra cash cos the K8m is not enough?
Vaku Nigeria ivo, vikuba muyangana so,Makolo beware! Your savings, (if you have any) are not worth that risky Bank. Some one get Chibamba Kanyama to comment on this. >:)>:)
Iwe Nigerian, which MD do you know who descides company policy without the Directors, Nika puppet chabe ka ogga! :-b:-@
umwina kalale, ulinshimbi mudala tell those poor zambians to invest their money in small businesses like ukukumba katata or kachasu so that panopano they can be eating their interest as well as giving the remaining katata and kachasu kulibashikulu bantu. 3 per cent! the author has no shame sure to put that on the air!
G Baby,I’m glad that we have in our country today people who think as intelligently as you do.Great!!!I wish you worked for Access Bank as a Policy Strategist,you ‘d have advised them not to adopt such a suspicious policy.
Ba LT…
Where’re my comments
Sister
It does but i think you can do without it! children first. I dont have any kids yet, but i ve started saving for them. I opened an account some time back and i deposit a ka little amount every month. I dont want to get stranded.
Hi Baby C!
I am excited you are are here. From class?
But ine…I have every reason not to trust Nigerians!
Thanks baby C. Seriously I do save. I have four children and I’m single. I’m a great mum. I am heaven sent to them. Nice weekend dear.
Sister, you are naughty mwandi!
hey its weekend and am paid nizeeeeeeee kunwa bwino ama castle
The only way this so-called move to encourage the young people to invest for their future is to come up with a very small minimum balance for savings accounts in USA Dollar. If the banks would introduce a minimum balance of $20 USA, people would know that their savings would last for a long time. Right now young lady, go buy yourself a gold chain and sell it when you want to go to school. You will be better off than depending on that chase bank deal.
The idea of saving for tomorrow is a good one but anything to do with Nigeria????? >:)>:)[-x
Good idea but wrong bank,Can u go to abuja when things are wrong?KAYA.
. :-h
great suggesion. :):):)
Zambians be very very careful with this so called Nigerian bank. These guys are con men. I don’t care how successful a Nigerian may be I will never trust a Nigerian. They are thieves and they have ruined the reputation of some (if there are any) good Nigerians. I wouldn’t even advise any of my family members to join. Touch not th
PAPA J walilasa chachine. INFLATION