What is EasySave?
EasySave is a savings account offered by Fido. It allows you to earn interest on your money while saving towards your goals.
Who is eligible for the EasySave product?
Anyone who has completed identity verification (KYC) and has an initial Fido Score with no defaults or lateness on their credit repayments for more than 90 days is eligible.
What do I need to open an EasySave account?
All you need is a valid Ghana Card and a mobile money wallet registered in your name. Start the registration and complete the verification process and voila you can begin saving. For an existing Fido client login and click on the savings banner to begin saving today!
How much interest will I earn?
You will earn an effective interest rate of 10% per year, calculated daily. This means you will earn interest for the days you have money in your account. For example, if you have kept funds in your savings account for 70 days you will get interest for those 70 days.
Can I use my EasySave account to repay my credit?
No, you cannot directly repay your credit with your EasySave balance. However, you can withdraw your savings and use them to repay your credit.
Does saving with EasySave improve my Fido Score?
Saving with EasySave may increase your Fido Score, but it is not the only factor considered.
Is there a minimum balance for an EasySave account?
Yes, the minimum balance required is 10 GHS. If your account balance falls below 10 GHS, your account will become inactive.
Can I have multiple EasySave accounts?
No, currently you can only have one EasySave account.
Does Fido offer other savings plans?
Fido only currently offers EasySave with a 10% interest rate.