UBA Sierra Leones Launches 5 Retail Liability Products including 2 Low KYC Savings Accounts

 

 

 

UBA Sierra Leone on Wednesday 25th November 2020 has officially launched 5 Retail Liability Products UBA Teens, UBA Dreams, UBA Extra, UBA Sharp-Sharp and UBA Next Level to members of the media at the Hub Hotel at Wilberforce.

During the event, the MD/CEO Usman Isiaka noted that he is particularly delighted with the introduction of the two Low KYC Savings Account, the UBA Sharp-Sharp and UBA Next Level that are meant for the unbanked and under-banked Sierra Leoneans in line with the Financial Inclusion Strategic focus of the Central bank of Sierra Leone.

He added that the two Low KYC Accounts have minimal documentation requirements and low operating minimum balances to encourage every citizen including artisans, farmers, bus driver, Keke Riders, labourers, petty traders among others to have a bank account. The UBA Sharp-Sharp account has a minimum account opening amount of Le 10,000 with daily and monthly transaction limits of Le500,000 and Le2.5 million respectively. The UBA Next Level on the other hand has daily and monthly transaction limits of Le1million and Le5 million respectively  without minimum account opening amount subject to account funding within 30 days.

During the products presentation to members of the press the following were highlighted as the special features and benefits of the other 3 retail liability products by the UBA Head of Retail Banking Mrs Victoria Olukotun and her team members, Daphne Roy-Mac Johnson and Joseph Kemoi.

UBA Teens – This product allows parents to open Savings Accounts for their children between ages 13 to 17. The product has exciting feature such as a 13th Month Reward ie.10% of the monthly savings plan amount if maintained for 12 months without interruption. Financial inclusion training and internship opportunity with UBA. Free SMS Alert, access to the bank’s Mobile Banking service and transition at age 18 to the UBA NexTGen Account.

UBA Dreams – This product is targeted at people who have plans for special projects to be executed and gives them opportunity of high interest yielding savings account to save money for the projects. Account holders also enjoy good interest rate and access to UBA digital banking channels.

UBA Extra– a savings account with current account features, which enables withdrawal through third parties with a special benefit to participate in a quarterly draw to win gift items such as motorcycle, shopping vouchers, bike, refrigerator etc.

UBA Sierra Leone continues to dominate the banking sector with exciting retail and digital banking products as part of the bank’s mission “to be a role model for African businesses”.

The bank started it operations in Sierra Leone in July 2008. UBA Sierra Leone currently has seven (7) branches, 5 in Freetown and 2 in the provinces i.e. Bo and Makeni with plans to add 3 more branches and service centres before the 2020 financial year ends.

UBA is a Pan African financial institution with presence in 20 African countries and 3 global financial service centres: New York, London & Paris.

By Sallieu Sesay
Head, Marketing and Corporate Communications
UBA Sierra Leone