Read the complete write-up of Stanbic Bank account opening requirements, form, online, shortcode as well as other information you need to know.
Introduction
Stanbic Bank is one of the best banks to save in Ghana. Stanbic Bank was established in 1992 after they changed their name from Standard Bank Investment Corporation. The new name was adopted to avoid confusion with the Standard Bank’s British former parent bank, Standard Chartered Bank, which continue to operate in Africa. Stanbic have an operating license issued by Bank of Ghana.
Stanbic Bank account opening requirements
The following are the requirements to open an account with Stanbic Bank. However, there are several types of accounts operated by Stanbic which can be categorized into two as Savings accounts and Investment accounts. Have a look at the account that suits your needs.
PureSave Savings Account
What is PureSave Account? PureSave account or personal account is an account where you Save towards a particular goal or purchase, or get the peace of mind that comes from knowing you’re ready for the unexpected. You earn interest each month, which means your money grows faster and you reach your financial goals quickly. You also get a debit card, which can be used at ATMs and point-of-sale terminals nationwide.
Some benefits of Pure Save
Save and bank: Earn interest and use this account for day-to-day transactions
Instant access: No notice period, simply withdraw or transfer your cash
Capital guaranteed: Know that your deposits will never be at risk of loss
Linked account: Link your card for easy access online and Point-Of-Sale channels
Check Out: Best Point Savings and Loans Treasury bill
Immediate access to your account electronically using your ATM card
Interest rates are tiered so the more money you save, the more interest you will earn
Requirements
- Be over 18 years old.
- Visit your nearest branch with the following documents:
- Proof of identity (valid Voter’s ID Card, driver’s license, Ghana Card or passport)
- Two passport-sized photographs
- Proof of address- utility bill less than three months old
- Tin (Tax Identification Number), which is now mandatory for all bank accounts opening.
- Minimum deposit of GHS50.00 is needed to open an account
- You must keep a minimum of GHS50.00 in your account at all times
Fixed Deposit Investment Account
A Fixed Deposit is an investment account where money is deposited for a fixed period and the interest rate does not change. It offers higher interest rates than ordinary savings accounts and is ideal if you want to save for a specific goal, like a wedding or a holiday.
Some benefits of Fixed Deposit
Top rates: Get higher interest rates the longer you stay invested
Fixed interest: Make a once-off deposit and watch your money grow at a fixed rate
No Fees: No management fees are charged on your account
Flexibility: Several investment period options are available – from 30 days to 365 days
What you get
You can choose an investment period
There are no service fees charged
Several investment period options are available – from 30 days to 365 days
You can have more than one fixed deposit if you want to save for different goals
You cannot withdraw funds from your fixed deposit during the term of your investment
If you end your investment early, you will need to pay a penalty
Requirements
- You must make a minimum investment of at least GHS500.00
- Be over 18 years.
- Visit your nearest branch with the following documents:
- Nationally accepted identification (valid Voter’s ID Card, driver’s licence or passport)
- Two passport-size photographs
- Proof of address – utility bill less than three months old
- You don’t need to give us the above documents if you hold a current or savings account with us
ContractSave Savings Account
ContractSave is an affordable, disciplined savings plan that can be tailored to suit your specific needs. It is ideal if you want to save for big future expenses like a deposit on a house, your children’s education or to top-up your retirement savings. A compulsory, monthly standing order is required to fund the account. This ensures that you save regularly over a pre-selected period– without giving in to the temptation to spend your savings.
Some benefits of Contract Save
No Fees: No management fees are charged on your account
Unlimited Deposits: No restrictions on deposits into your account
Capital guaranteed: Know that your deposits will never be at risk of loss
Multiple Accounts: You can open more than one account
WHAT YOU GET
You need to sign a minimum standing order for GHS100.00 a month
Additional deposits (no minimum amount) can be made into the account at any time
Funds can be accessed at the end of your chosen investment period
You must have a transaction account with us to fund your standing order
There are three minimum investment periods to choose from – 12, 18 or 24 months
You can open more than one ContractSave account
Interest rates are tiered and variable
No management fees are charged on your account
Requirements
- A minimum deposit of GHS250.00 is needed to open the account
- Be over the age of 18
- Visit your nearest branch with the following documents:
- Proof of identity (valid Voter’s ID Card, driver’s license or passport)
- Two passport-size photographs
- Proof of address – utility bill less than three months old
- You don’t need to give us the above documents if you hold a current or savings account with us
Bonus Investment Account
A Bonus Investment allows you to invest a lump sum over a chosen period and rewards you with bonus interest on maturity of your investment
Some benefits of Bonus Investment
Top rates: Get higher interest rates the longer you stay invested
Fixed interest: Make a once-off deposit and watch your money grow at a fixed rate
No Fees:No management fees are charged on your account
Flexibility:Several investment period options are available – from 30 days to 365 days
What you get
There is no maximum balance requirement, but the higher your balance, the more interest you will earn
Additional deposits cannot be made into the account
You can open more than one Bonus Investment account
There are five investments periods for you to choose from – 6, 9, 12, 18 or 24 months
Once an investment period has been chosen, it cannot be changed
You earn bonus interest if the account runs for the full investment term
No management fees are charged on your account
Requirements
- A minimum deposit of GHS5 000.00 is needed to open the account
- Be over 18 years
- Visit your nearest branch with the following documents:
- A nationally accepted identification card (valid Voter’s ID Card, driver’s license, Ghana card or passport)
- Two passport-size photographs
- Proof of address – a utility bill less than three months old
- You don’t need to give us the above documents if you hold a current or savings account with us
Stanbic Bank Ghana Contacts
Get in Touch
LOCAL: +233 302 815 789
Vodafone Toll free number
LOCAL: 080010009
MTN Toll free number
LOCAL: 18080
Shortcodes
Dial *565*0# on your registered phone to get it. Open an online account with Stanbic IBTC today and enjoy our products and services on the go.