MTN Ghana has partnered Fidelity Bank to launch Y’ello Save Account which enables mobile phone users to earn 12 percent interest on their savings. The account is also a good way to mobilise funds and help people acquire the habit of saving.
The newly launched account which is a Mobile Money wallet-based savings product is designed to give subscribers a convenient way to save and earn attractive interest, the Chief Executive Officer of MTN Ghana, Mr Ebenezer Asante explained at the launch at Kaneshie Market in Accra.
The rationale of launching the product at the market was to educative the traders, customers and the general public on the new product.
He said: “We believe that with over eight million mobile money subscribers and 58,000 agents across the country, the Y’ello Save platform will become an important avenue for subscribers to harness the benefits of savings”.
Also, we paid a total of GHC 34,343,000.00 as quarterly interest to our Mobile Money customers in 2016. This confirms that MTN is indeed committed to ensuring that its customers reap the benefits of using the MTN Mobile Money service, according to Mr Asante.
Mobile money is now playing a crucial role in making banking services accessible to previously unbanked populations in developing countries including Ghana.
He therefore encouraged traders, drivers, Ice water sellers, shop owners, artisans and all people operating in the informal and formal sectors of the Ghanaian economy to be part of the Y’ello Save Account service.
Throwing more lights on the Y’ello Save Account, the Managing Director of Fidelity Bank, Jim Baiden added: “Anybody who can have a bank account should also be able to have a Y’ello Save Account too and everybody who has a mobile phone can also have a Y’ello Save Account too and enjoy the benefits”.
He emphasised: “We have a winning product for everyone. After listening to customers, we have designed this Y’ello Save Account in a special by removing all paper work to ensure that anyone can open the savings account in just a few minutes from anywhere and the best part is, you enoy 12 percent interest”.
How to open the Y’ello Save Account
“All you need is a mobile phone and the MTN Moble Money app downloaded on the phone and guest what you have a y’ello Save Account on your phone”.
Go ahead and follow the service options on your mobile money menu, you will see the Y’ello save option. This means you have opened a Y’ello Save Account.
You can then push money from your money wallet into your Y’ello Save Account any day, any time, and anywhere.
The General Manager, Mobile Financial Services at MTN Ghana, Mr Eli Hini assured that Y’ello Save Account platform is safe and efficient.
IT Consortium, one of the leading Fintech companies in Ghana is providing the technology for the Y’ello Save Account platform.
African Eye Report
