Republic HomeSave Account
- Product targets customers who desire to own their homes within the shortest possible time
- Individuals, Joint names or Corporate Entities
- A long term targeted savings account
- To give the opportunity to prospective homeowners to save towards the down payment of their desired home
- Account to be operated as a hybrid of savings and investment
- Standing order / direct debit
- Minimum opening balance is GH¢100
- Mandatory regular monthly investment contribution of not less than GHS 100 for 24 months/ 36 months
- No withdrawal limit to be set on account
- Optional two or three (2/3) year term insurance policy on amount contracted to be paid within the contract period.
- Benefit to be paid on death according to commitment made.
- Saving up to 25% of the property cost qualifies customer to apply for a mortgage loan and consumer loan
- Account attracts a high interest rate
- Regular quarterly statements
- Periodic information on Real Estate Market
- Two/three full months deposit equivalent paid to customer as long term benefit after 24/36 months of saving regularly i.e. 24+2/36+3
