CDH Savings and Loans commits to customers
The Executive Director of the CDH Savings and Loans, Mr Martin Asamoah, has expressed the determination of the bank to excite its customers by consistently paying interest on their accounts.
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“At the CDH, we pay interest of 12 per cent per annum on current accounts and this is to enable our customers not to lose out when they open such accounts with us,” he told the Daily Graphic in an interview in Accra at the weekend.
In Ghana today, majority of the banks and other deposits taking financial institutions refuse to pay interest on current accounts. Their argument had been that those accounts were on call and could not be a trusted source for investment to yield any returns. Against this background, they are unable to offer any interest to their clients who open such accounts.
But Mr Asamoah said the dynamics at CDH was different because of the many measures put in place to ensure that the monies in the current accounts, no matter how often clients withdraw, attract some interest.
“It has always been our policy to share whatever we get after investing our clients’ money with them because we make some returns on the funds they securely save with us,” he said.
Mr Asamoah said, “Business is a win-win situation and the customers must be made to have their share at all times”.
He said the bank had, through the interest paid on the current accounts, attracted many customers who hitherto were not saving at all because they did not find it attractive to do so.
According to him, the best way to encourage savings in the country was to ensure that customers earned on what they saved “because as banks, we trade and earn on the monies given us so we must share what we earn with our customers whose monies we use”.
Mr Asamoah said the CDH Savings and Loans was strategically positioned within the industry and the economy at large to help businesses grow no matter their size and asked individuals and companies to take advantage to open accounts with the bank.
“We are also scouting to partner a credible universal bank so we can leverage their branch network to enable our customers to cash cheque without any hustle,” he said