Bank of Baroda launches savings product
The Bank of Baroda Ghana Limited has launched a high savings product aimed at developing a savings culture and producing financial security for patrons.
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The product, Recurring Deposit, is Ghana Cedi and US Dollar-denominated and provides a comparatively better rate of returns on monthly savings.
The Managing Director of the bank, Mr Ranganathan Mohan, described the innovation as “a dream product aimed at achieving the twin objectives of developing savings habit and higher return for monthly savings.
“We also want to use the product to instil confidence about future financial security among the financially excluded segment,” he told the Daily Graphic in Accra.
The launch of the product coincides with the bank’s ninth anniversary celebration, which was marked by customers and staff.
The MD explained that the Bank of Baroda was born out of Indo-Ghanaian co-operation to help create opportunities for businesses in Ghana to thrive.
“On this occasion of the ninth anniversary, the bank rededicated its commitment to the inclusive growth of the Ghanaian economy so that the poor and down-trodden could derive the benefits of banking,” he said.
He thanked the customers and stakeholders for their cooperation and support during the past eight years and called for stronger collaboration in the coming years.
