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Capital Bank’s V12 Campaign changes narrative on current and savings accounts

Capital Bank’s V12 Campaign is gathering momentum days after its launch as customers and prospective customers throng to Capital Bank to make enquiries and to make deposits.

The campaign which started on Monday, 15 May, 2017 was meant to give superior value to customers and to consolidate the bank’s position as the best retail bank and the best bank in terms of savings and deposits.

The Head of Sales at Capital Bank, Mr Stephen Ped Andam, said operating currents accounts did not seem rewarding because they are normally associated with charges and as such current account holders are particularly excited by the opportunity to earn 12 per cent per annum interest on their average growth balances payable every month.

“We believe another exciting feature about the V12 is that unlike Treasury Bills or Fixed Deposit investments, there are no restrictions on the account and as such customers have full access to their cash any time through all the available channels. The 12 percent interest rate will be computed on the average growth balances GHS50 and above monthly,” he said.

The Managing Director of the bank, Rev. Fitzgerald Odonkor, said the mechanics of the promotion was to pay 12 percent interest rate on all local currency savings and current accounts that grow their account balances by GH₵50 or more.

“The “V” stands for Value and the “12” represents 12 per cent per annum interest rate. “V12 is also synonymous with an extremely high-performance engine,” he said.

Therefore, he said, the bank aimed to use the V12 promo to propel customers towards the actualization of their financial goals in line with the bank’s value proposition of delivering superior value.

Head of SpeedPay, Yacoba Amuah explained that customers are also excited by their ability to make cash deposits without having to visit the banking hall with Capital Bank’s SpeedPay solution.

“We have also made cash deposits easy and convenient with SpeedPay. All customers have to do is to purchase SpeedPay vouchers worth the amount of cash they want to deposit from any Allied Oil filling stations and other SpeedPay agents nationwide and pay the cash into their bank accounts through their mobile phones,” he added.

Capital Bank is noted for innovation and it was the first bank to introduce a service that enabled customers to make cash deposits into their bank accounts through their mobile phones in 2011.

Last year, it also launched the innovative V-man campaign where individuals were given free cash to open bank accounts. The bank currently has 23 branches nationwide and it is expected to increase its branch network to 26 by the end of the year.

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