DURBAN - The Bidvest Bank GROW Account encourages financial inclusion by allowing consumers to transact, save and invest.
The Bidvest Bank Grow Account is a new generation transactional account that allows account holders to transact, save and invest from the same account, with no minimum deposits, and highly competitive interest rates.
"We understand that in today’s economic environment, saving money is not easy and investing in your future is even harder. We are giving our customers a new way to control their money and optimise its growth potential, simply and on the go via our user-friendly Bidvest Banking App," says Bidvest Bank’s Managing Dircetor, Japie van Niekerk.
The Grow AccountTM aids saving and encourages entry-level investment, regardless of how much a consumer earns and has been created to give South Africans easy and affordable access to banking.
The Bidvest Bank Grow Account is essentially three accounts in one:
1. Transactional Banking account for day-to-day transacting whilst giving you 2.5% interest on a positive balance.
2. Savings Account with 6% interest on a positive balance and no notice period to access funds.
3. Bidvest Bank EasyEquities account – in partnership with EasyEquities, Bidvest Bank now provides a new way to grow funds by allowing fractional share investments.
Charles Savage the Chief Executive of EasyEquities said, "We are delighted to be working on this exciting new initiative with Bidvest Bank. This once again highlights our ongoing commitment to be an online investment facilitator for banks and brokers around the world".
The Grow AccountTM is another step forward for Bidvest Bank’s diversification strategy and follows on from announcements in early 2018 of a strengthened Business Banking offering. The only requirement to be eligible for the Bidvest Bank Grow account is a minimum balance of R50 in the person's account.