#YouDeserveMore: HFC Bank launches new deposit products for everyone

Managing Director of HFC Bank, Robert Le Hunte flanked by Osei Akafo adjei (executive director of corporate banking) Kwame Pianim and Dr Abdul Nashiru Issahaku (Deputy Governor of Bank of Ghana)

HFC Bank Ghana limited has launched a suite of exciting deposit products under a new campaign themed “You Deserve More – Make the switch now”.

The suite of new products include HFC Brainy Child account, HFC Smartsave account, HFC Susu Plus account, HFC HomeSave Plus account, HFC IDO account, HFC Premium Savers account and HFC 55plus account. According to management of the bank, these products are designed to cover the banking needs of customers from the Cradle to Golden ages and has the most attractive interest rates and features.

HFC I Do Account targets young individuals or couples looking to save towards marriage and life immediately afterwards. It is to encourage yet-to-weds to save towards their marriage ceremony and it comes with the extra benefit of having an account for collection of wedding gifts.

HFC Susu Plus Account is a good mix of tradition and modernising, targeted at customers who are willing to make savings (susu) towards a renewable one year contract. It comes with the added benefit of one full month’s savings paid out to customer as bonus after 12 months of savings.

The HFC Brainy Child account is a product that targets parents and guardians in order to encourage them to save up towards future expenses of children. Account is operated as a trust until the child turns 18. The HDC Premium Savers Account is an interest bearing current account which targets individuals who are serious investors. It has a tiered deposit interest rate ranging from 5% to 14%.

HFC 55 Plus Account is a product for Ghanaians from 55 years. It provides competitive and hustle free savings options post retirement. While HFC SmartSave Account targets individual regular savers. A tiered rating scale minimum monthly balance of GHs1,500 must be held to earn interest unto 5%.

And finally, the HFC Home Save Plus account draws heavily on what HFC’s mortgage financing track record, targeting customers who desire to won their homes in the shortest possible time, with optional 2 or 3 year term insurance policy on amount contracted. Also, savings up to 25% of the property cost qualifies customer to apply for mortgage loan.

According to the Managing Director of HFC Bank, Robert Le Hunte the new products form part of the bank’s renewed commitment of delivering competitive services in order to meet the needs of its customers and shareholders in 2016. Some other measures it has initiated, include retraining of staff to work in achieving the bank’s objectives.

HFC Bank, which currently has about 57 percent shares owned by the Republic Financial holdings limited (Republic Bank of Trinidad and Tobago) , also says it believes to increase its profits and customer base with this new drive.

Mr Robert Le Hunte commented: “We have always said that we look at all of our stakeholders, our customers …it means increasing our interest expense but we believe these are fiery things that our customers deserve. Our staff have been well taken care off over the last six months as a result, at the end of the day, we believe if we really take care of our staff and customers, that will rebound in the bank’s profitability and by extension our shareholders. ”

The launch which was held at the Movenpick Ambassador Hotel also witnessed solidarity messages from special guests including renowned economist, Kwame Pianim and the 2nd Deputy Governor of the Bank of Ghana, Dr. Abdul Nashiru Isahaku.