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Zambia's bank offers reward to keep the money in the bank

STANDARD Chartered Bank Zambia Plc has launched the Marathon savings account, which allows customers signing up a reward of higher interest rates determined by the length of time kept thier deposits in the bank.
"The Marathon savings distance (promotion period) will be 12 months from the launch date, ending May 31, 2010. Customers will however only have 60 days from the launch date June 1, 2009, to build their participating balances for promotion", he said.

According to a statement issued by Standard Chartered bank, head of corporate affairs southern Arrica, Luke Mbewe, customer will earn higher interest rates if they keep their deposits for one year. Mr. Mbewe said customers will be earning rates equivalent to those on fixed deposits, whilst enjoy the flexibility of being able to withdraw funds at any time.

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