Republic Bank  Homesave Plus Account

• Product targets customers who desire to own their homes within the shortest possible time


• Individuals, Joint names or Corporate Entities


• A long term targeted savings account


• To give the opportunity to prospective homeowners to save towards the down payment of their desired home

Eligibility Requirements

• Applicant must be 18 years and above


• Applicant must meet KYC requirements

Key Product Features – Homesave Plus

• Account to be operated as a hybrid of savings and investment


• Standing order / direct debit


• Minimum opening balance is GH¢100


• Mandatory regular monthly investment contribution of not less than GH¢ 100 for 24 months/ 36 months


• No withdrawal limit to be set on account


• Optional one (2/3) year term insurance policy on amount contracted to be paid within the contract period.


• Benefit to be paid on death according to commitment made.


• Interest: Tiered but on a fixed rating scale

Product Benefits – Homesave Plus

• Savings for a future home


• Saving up to 25% of the property cost qualifies customer to apply for a mortgage loan


• Qualifies customer to apply for a consumer loan


• Account can be used as a collateral for credit facilities


• Cheque lodgments can be made into account


• Account attracts a high interest rate


• Regular quarterly statements


• Periodic information on Real Estate Market


• Two/three full months deposit equivalent paid to customer as long term benefit after 24/36 months of saving regularly ie 24+2/36+3

INTEREST RATE- HOMESAVE PLUS

• Two (2) and Three(3) months installment after 2 and 3 years payments respectively