MoneyMaster Payment Service Bank Offers 8.0% Annual Interest Rate to G-Kala Savers

MoneyMaster Payment Service Bank (MMPSB), established by Globacom, is set to elevate the experience of its G-Kala savings account holders by introducing an enticing 8.0 percent annual interest rate on their savings accounts with the bank.

This innovative initiative is aimed at cultivating a culture of saving among both new and existing customers of the bank, thereby promoting financial inclusion across the nation.

In a statement released by the bank in Lagos, it was disclosed that “both new and existing G-Kala savings account holders will benefit from an 8.0 percent interest rate per annum on all deposits made into their G-Kala savings account.”

However, customers are advised that “no more than three withdrawals are allowed per month to qualify for the interest, which will be calculated and credited monthly,” the statement emphasized.

This bold move is intended to encourage the adoption of cashless banking, making it accessible to potential customers who can effortlessly open an account via the bank’s website for a seamless and convenient experience.

“This presents an exciting opportunity for everyone to open a G-Kala account with MoneyMaster PSB, deposit funds into the wallet, and enjoy an 8.0 percent interest rate per annum,” the statement continued.

The bank underscored that G-Kala is a tailor-made product designed to cater to customers who may not have easy access to traditional banks or who belong to the unbanked population.

“G-Kala brings the benefits of banking directly to their mobile phones through USSD, eliminating the need for an internet connection. It empowers them to deposit, withdraw money, transfer funds to other banks, purchase airtime, and pay bills such as electricity, water, DSTV, and more.

“This innovative service offers a convenient and secure alternative for banking transactions, available anytime and anywhere, operating in real time. It’s not only safer and faster but also more convenient and cost-effective compared to traditional money transfer services.”