Telecel launches digital savings product to drive financial inclusion
Telecel Ghana has partnered with FirstBank Ghana to roll out a digital saving product aimed at driving financial inclusion and empowering more Ghanaians economically.
Dubbed: “RedSave”, it is a revolutionary digital savings account designed to make saving effortless, accessible, and rewarding by providing Ghanaians a seamless digital platform to earn interest directly from their Telecel mobile money wallets.
In a release issued by Telecel Ghana, it said RedSave, which offers up to 8% annual interest, is an important step toward increasing financial inclusion, particularly those who have been excluded from access to traditional banking systems.
It said irrespective of location, any Telecel Cash user can open a RedSave account instantly with only a mobile phone.
The Director of Telecel Cash and Digital Transformation, Philip Amoateng, said, “we are thrilled to introduce RedSave as part of our commitment to bring financial services closer to the people.
By working with FirstBank, we’ve created a savings solution that is not only accessible but rewarding. This initiative gives our customers the tools to build a stronger financial future, reinforcing our goal of leveraging technology to improve lives.”
Savings culture
“Designed to promote a savings culture while ensuring that it remains convenient and user-friendly, RedSave offers customers convenience.
To open a RedSave account, customers simply dial *110# and select the savings option. The process is quick and convenient, requiring only a minimum opening balance of GH¢5,” the release said.
It said with interest rates of up to 8% per annum, accrued daily and paid quarterly, RedSave offers a unique way for Telecel Cash users to grow their savings without visiting a physical bank branch.
“With RedSave, Telecel Ghana is making it easier for Ghanaians to build their savings while enjoying the benefits of a high-interest digital account. Customers are advised to take charge of their financial future today by dialing *110# to start saving and earning with RedSave,” the release added.