Best High Interest Savings Account In Ghana
Savings are forms of investment and as it is, every investment is meant for profit. Instead of money lying idle on a fixed deposit account or any other idle account, it would be of great benefit if you open a high interest savings account and save your money for higher interest. I will take you through the best high interest savings account offered by various banks in Ghana where you can open an account and start saving for good returns. Opening a savings account in any of these high interest savings account potentially increases your interest rate, there by increasing your money whiles your principal sum stays safe. It offers higher percentage in interest rate that increases your interest to a maximum amount. You might be in Ghana but not aware of such high interest savings accounts and I trust after sharing this post, you should have enough information to enable you open an account in any of the best high interest savings account in Ghana.
A high-interest savings account is a bank account that allows you to deposit an amount of money with a more higher interest in return. The average savings account pays lower percentage of interest annually of about 5% to 6% whiles many other banks pays even less. But a high-interest savings account earns much more interest, sometimes higher 5 to 10 times more in interest as compared to other accounts. Ranging from 10% to 20%.
Why You Should Open An Account And Save In Such Account
✔ Higher interest rate as compared to traditional savings accounts: A highest interest savings account as the name implies, offers the best of higher interest rate than any other account. Saving in these type of accounts is a very good investment for higher return.
✔ Your money is safe and secure: Your principal money and compound interest stays safe and secure, as your money is always intact and can be withdrawn at any time without hassle. Interest are bound to raising high as well.
✔ Easily access your money: One factor of high interest savings accounts is that , you can have access to your account easily due to it’s mobile banking nature. Depositors can deposit and withdraw money right on their smartphone without having to go to the bank in person.
✔ Compounding interest: High interest savings accounts offers compound interest, that’s interest on interest. This is possible as the result of reinvesting your interest or not withdrawing your principal interest and then earned on the principal sum with the previously accumulated interest.
✔ No additional fees: Unlike other accounts, high interest savings accounts do not have additional charges or hidden fees. It’s simply adopted to allow depositors have flexible ways of investing their money in the banks with good returns.
✔ Interest rates could increase to previous levels: Interest rates are likely to increase to previous levels and even higher in case of rate drop, the possibility of interest rate increasing is always high.
Banks In Ghana With The Best High Interest Savings Account
1. Savings Account of GCB Bank
GCB bank savings account offers an interest rate of 6%, which is one of the lowest of any of the banks to be discussed here but it’s added here because of it’s availability and mobility in every part of Ghana especially remote towns. Most banks with the best high interest savings accounts are mostly located in cities and are not available in most part of the country. It’s also safe and secure and could be said as one of the best banks to open a savings account since it’s the mother of all banks in Ghana.
2. Absa Bank Savings Account
Absa bank savings account is best for all depositors as it has a great interest rate at 11% per year. It has mobile banking features which allows you to sign up for your account online, and has very good and secure financial conditions with great credit cards as well.
3. Zenith Bank Savings Account
Zenith bank can be said to be one of the best banks in Ghana which makes it one of the secure and safe banks to keep your money. It has one of the highest interest rates of 10% annually. Zenith bank savings account do not have any hidden fees or high account minimum.
4. OmniBank Savings Account
OmniBank offers an absolute highest interest rate, it always have the highest interest rate compared to any bank in Ghana. It has interest rate of 12% to 13%. However, OmniBank do not have branches in all over Ghana, it’s based in the major cities of Ghana. I recommend you opt for their mobile or digital banking if you found interest to open a savings account with OmniBank.
5. PureSave Account of Stanbic Bank
Stanbic bank PureSave account offers relatively low interest rate which is 7% per year, an average for banks in Ghana though. But it’s added here because stanbic bank do have very good credit cards and loan options as compared to many other banks in Ghana. You may open a puresave account at stanbic bank to enjoy their loan offers and credit cards.
6. Standard Chartered Savings Account
Standard Chartered saving account by Standard Chartered bank allows depositors to save in currencies other than Ghana Cedis. Standard Chartered savings account is the best for savings in foreign currencies as it specifies as a multi-national bank. SC bank interest rates are somewhere between 1% to 3.5% for foreign currencies. If you want to save in other denominational currencies such US dollars, Euro, Pounds etc then you should open a savings account with standard chartered bank, they have many branches in major cities and towns across nation with digital and mobile banking features to enhance easy deposits.