16 Aug 2020

Botswana Savings Bank (BSB) has launched a three months Polokelo Savings Promotion.

The promotion will run from August 14, to November 14 and will provide an opportunity for customers to save with attractive interest rates.

A press release from the bank says, BSB’s core mandate is to encourage saving among Batswana, hence, in a bid to drive the savings culture the bank offers customers an opportunity to turn their savings into investments by earning interest on a yearly basis.

The BSB head of Marketing & Corporate Affairs, Ms Bomolemo Selaledi explained that the Polokelo Special Savings promotion is underpinned by the theme: Boloka o Boelwe, which sends out a compelling call to action and the benefits to be derived.

The release says the features of the promotion include a minimum deposit of P100 000 that can be invested for one year to two years. 

The interest rate of 12 months is 4 per cent, while that of two years is 4.5 per cent per annum.

Over and above the lucrative rates, the release states, the tax exemption on BSB gives potential clients an advantage on returns, as their interest earned will not be taxed, thus directly earned by the client.

“The promotion predominantly targets non-BSB customers and existing BSB customers. Depositors are encouraged to take advantage of this offer,” she said.

Ms Selaledi further explained that, ‘BSB continues to explore innovative & new savings opportunities for its clients.

The new realities presented by the pandemic created an opportunity to re-think the continuously evolving business needs’.

“We are excited to offer our customers this amazing investment opportunity. We are quite confident of the best interest rates offered through Polokelo Savings promotion, as this will provide relief measures in protecting people’s livelihoods post pandemic,” she added.

In line with adding value in the lives of customers, in March 2020, BSB launched to the market several new and revamped loan products, says the release. 

It further states that this brought diversity to the bank’s product portfolio and made them competitive to the market. BOPA