Fidelity Bank has introduced a dollar denomination of its flagship product, the Fidelity Lifestyle Investment Plan (FLIP) account.
The move is part of its resolve to offer customers alternative products and services that give clients the opportunity to grow and diversify their wealth.
The USD FLIP account is a capital accumulation plan which encourages the accumulation of wealth through a consistent monthly payment into ones’ USD FLIP account.
It is a 91-day investment that is automatically rolled over. The interest payable on the USD FLIP account is fixed at the LIBOR (London Interbank Offered Rate) plus 0.5%.
The minimum balance required to open the account is USD 5,000 and subsequently, a minimum contribution of USD 100 monthly is required to operate a USD FLIP account.
Commenting on the USD FLIP account, the Managing Director of Fidelity Bank, Mr Jim Baiden stated that Fidelity wants to stay true to its vision of being the best place to bank for its customers. He added that Fidelity wants to help its customers create and protect their wealth.
According to Mr Baiden, Fidelity Bank offers investment products for its customers in support of their financial stability. The USD FLIP account is also designed to help investors prepare for emergencies as well as fight inflation amongst others.
USD FLIP account holders can embark on an exciting journey towards wealth creation to help realise their dreams and aspirations such as own their dream houses, buy their dream cars, or get to go on their dream vacation.
The USD FLIP offers a high yielding, yet flexible investment plan offering protection against exchange rate risk.
Customers are also allowed to borrow against their investment up to a maximum 70% of their investment.
Fidelity Bank was issued its universal banking license on June 28, 2006, making Fidelity Bank Ghana Limited, the 22nd bank to be licensed by the Bank of Ghana under the new Banking Act, 2004 (Act 673). Since then, the bank has grown to become the largest privately owned bank and the 4th largest in terms of assets.
Fidelity Bank is the reigning Bank of the year and the Most Socially Responsible Bank in Ghana.
Latest Stories
-
Gold Fields Ghana Foundation challenges graduates to maximize benefits of community apprenticeship programme
27 mins -
GBC accuses Deputy Information Minister Sylvester Tetteh of demolishing its bungalow illegally
38 mins -
Boost for education as government commissions 80 projects
49 mins -
NAPO commissions library to honour Atta-Mills’ memory
1 hour -
OmniBSIC Bank champions health and wellness with thriving community walk
1 hour -
Kora Wearables unveils Neo: The Ultimate Smartwatch for Ghana’s tech-savvy and health-conscious users
1 hour -
NDC supports Dampare’s ‘no guns at polling stations’ directive
1 hour -
Police officer interdicted after video of assault goes viral
1 hour -
KNUST’s Prof. Reginald Annan named first African recipient of World Cancer Research Fund
1 hour -
George Twum-Barimah-Adu pledges inclusive cabinet with Minority and Majority leaders
2 hours -
Labourer jailed 5 years for inflicting cutlass wounds on businessman
2 hours -
Parliament urged to fast-track passage of Road Traffic Amendment Bill
2 hours -
Mr Daniel Kofi Asante aka Electrician
2 hours -
Minerals Commission, Solidaridad unveils forum to tackle child labour in mining sector
2 hours -
Election 2024: Engagement with security services productive – NDC
2 hours