OUR SAVINGS OPTIONS SIDE-BY-SIDE
At Ecobank Burkina Faso, we make saving easy.
Personal Savings
We know that different people have different needs when it comes to savings accounts. That's why we offer a variety of options, so you can bank the way you want to.
| Compare | Statement Savings | Passbook Savings | Youth Savings | Student Savings | Lease Security Savings |
|---|---|---|---|---|---|
| Minimum Deposit to Open | $100.00 | $100.00 | $10.00 | $10.00 | $100.00 |
| Minimum Balance Fee | $1.50 monthly fee if daily balance falls below $100.00 | $1.50 monthly fee if daily balance falls below $100.00 | None | None | None |
| Interest Rate Begins to Accrue | On the business day you deposit non-cash items (i.e. checks) | On the business day you deposit non-cash items (i.e. checks) | On the business day you deposit non-cash items (i.e. checks) | On the business day you deposit non-cash items (i.e. checks) | On the business day you deposit non-cash items (i.e. checks) |
| Frequency of Compounding | Compounded daily, credited monthly | Compounded daily, credited monthly | Compounded daily, credited monthly | Compounded daily, credited monthly | Compounded daily, credited monthly |
| Minimum Daily Balance to Obtain Stated Annual Percentage Yield | $100.00 | $100.00 |
None | None | $100.00 |
| Requirements | 18+ to apply |
18+ to apply |
Newborn-4 to apply |
5-17 to apply* |
18+ to apply |
| Ecobank Burkina Faso Contribution to Account | None | None | $10.00 | $10.00** |
None |
Holiday/Vacation Club Accounts
- You must deposit $1.00, $2.00, $5.00, $10.00, or $25.00 to open account.
- Interest-bearing account
- Deposits made via transfers from other accounts
- Checks / Disbursements are distributed at set point in April (Vacation) or October (Holiday) based on balance of account.
- This is a perpetual account; it does not get closed-out once disbursement occurs.
- Cannot be used as an overdraft protection product.
Other Details
Closing account before interest is credited will forfeit the accrued interest.
Fees may reduce earnings.
You may make 6 withdrawal(s) from your account every statement cycle. Transactions include:
Pre-authorized transfers, automatic transfers, telephone or fax transfers, internet banking service, debit card or other similar third party transactions.
Any additional withdrawal transaction will incur a fee of $25.00 per transaction.
* Parent or Guardian must have a Ecobank Burkina Faso deposit account in good standing or open a deposit account prior to opening Student Savings account.
**This account can be linked to Ecobank Burkina Faso Excellence Program. Please see a bank representative for details or visit our "Ecobank Burkina Faso Spotlight Page."
