Quickenvest Account
Quicken Microfinance > Quickenvest Account
QUICKENVEST
This is a special purpose investing account for those who are unable to raise lump sum amounts to cover their future needs. They can use this product to invest a modest sum of money for a longer length of time and earn a competitive interest rate. By using and selling the company’s Susu boxes, this account will be fulfilled. Customers will daily pay modest amounts into the Susu box, and at the end of each month the Marketer will collect the bulk contribution and deposit it into the customer’s account. The account is made for people who want to buy any type of property that they can’t currently afford (e.g a plot of land, furniture, household appliance, equipment, vehicle, house, etc.)
FEATURES
⦿ Minimum account opening balance of GH¢ 10.00
⦿ Sale of Susu box (COMPULSORY) at GH¢ 15.00 [to be deducted from first monthly deposit]
⦿ As low as GH¢ 1.00 or more contribution into the Susu box on a daily basis
⦿ Assigned marketers visit clients at the end of every month/week for cash pick up from susu box
⦿ The first-month contribution serves as the initial deposit into the client investment account at a minimum of GH¢ 50.00
⦿ Minimum operating balance GH¢ 25.00
⦿ Minimum balance to attract interest GH¢ 100.00
⦿ Interest at the average of Edwumapa rate and T/Bills [i.e. Edwumapa +T/Bill / 2] currently at 10% to be reviewed every 6 months
⦿ No withdrawal for 12 months [any withdrawal within the period to attract 2% of withdrawn amount]
⦿ Amount in multiples of GH¢ 1, 000.00 shall be moved to FD investment
⦿ Interest calculated on daily basis and apply every six months.
⦿ Account-holders are discouraged from withdrawing from the account until the purpose of the account is achieved.
⦿ The account holder can access loans equivalent to 80% of their investment after 6 months of operations
⦿ Account may be closed by giving 30 days’ notice and all the necessary deductions shall apply.
REQUIREMENTS
⦿ Valid ID card
⦿ 2 passport pictures
⦿ Utility bill/tenancy agreement
⦿ Resident permit (for foreign nationals)