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Savings Accounts

Ordinary Savings Account

A deposit account that allows a customer to save and earn modest interest on money saved. The account can also be used for receiving salary, saving money, bill payments and transfers. This account targets Retail customers

Features
  • Customers can access funds from any NBS Bank Service Centre
  • It has lower monthly management fees and therefore cheap to manage
  • Can be linked to an ATM Card to access funds any time from ATMs
  • Can be linked to Easy Mobile and SMS alerts
  • It earns interest
  • Minimum account balance is MWK 1,000
  • Interest is paid annually

Account opening requirements: A valid passport or valid driver’s license or Malawi Electoral commission registration card with a letter from a recognized authority or a letter from an employer and employees ID. Proof of residence i.e water bill.


EazySave Savings account

A transactional account that can be used for receiving salary and saving money

Features
  • Customers can access funds from any NBS Bank Service Centre
  • It has lower monthly management fees and therefore cheap to manage
  • Can be linked to an ATM Card to access funds any time
  • Can be linked to easy mobile and SMS alerts
  • It earns interest
  • It has a lower minimum account balance of MWK 2000
  • Targets Retail customers
  • Interest is paid annually

Account opening requirements: A valid passport or valid driver’s license or Malawi Electoral commission registration card with a letter from a recognized authority or a letter from an employer and employees ID. Proof of residence i.e water bill


Youth Savings Account

  • A Savings account for minors. It can be used for saving for child’s future needs. The account targetsChildren (Minors). Parents/Guardians open the account on behalf of the minors.

Features
  • Customers can access funds from any NBS Bank Service Centre
  • It has lower monthly management fees and therefore cheap to manage
  • Can be linked to an ATM Card to access funds any time
  • Can be linked to easy mobile and SMS alerts
  • It earns interest
  • It has a lower minimum account balance of MWK 2000

Account opening requirements: Parent/Guardian’s valid passport or valid driver’s license or Malawi Electoral commission registration card with a letter from a recognized authority or a letter from an employer and employees ID. Proof of residence i.e water bill


Pafupi Savings Account

This is a saving product that is targeting low income individuals in urban and rural areas with a vision to save. These could be micro business individuals, farmers and salaried individuals.

Features
  • Customers can access funds from any NBS Bank Service Centre and Bank Pafupi Agents
  • It has lower monthly management fees and therefore cheap to manage
  • The account is opened instantly and an ATM Card is instantly given to access funds any time
  • Can be linked to easy mobile and SMS alerts
  • It earns interest
  • It has a lower minimum account balance of MWK 500
  • TargetsLow income business people, farmers and salaried individuals
  • Account is openedthrough Sales People called Bwenzi La Pafupi who goes door to door to open accounts.
  • No monthly fees
  • Customers can transact at Bank Pafupi Agents, ATMs, Service Centres

Account opening requirements: Provide any identification, a voter registration card, or stamped letter from chief or letter from the DC.


EazyAlimi Savings Account

A Savings account for farmers. It can be used for receiving and saving Agricultural proceeds.

Features
  • Customer can access funds from any NBS Bank Service Centre
  • It has lower monthly management fees and therefore cheap to manage
  • Can be linked to an ATM Card to access funds any time
  • Can be linked to easy mobile and SMS alerts
  • It earns interest
  • It has a lower minimum account balance of MWK 2000

Account opening requirements: valid passport or valid driver’s license or Malawi Electoral commission registration card with a letter from a recognized authority or a letter from an employer and employees ID. Proof of residence i.e water bill


Senior savings Account

A Savings account for senior citizens.

Features
  • Customers can access funds from any NBS Bank Service Centre
  • It is cheap to manage
  • Can be linked to an ATM Card to access funds any time
  • Can be linked to easy mobile and SMS alerts
  • It earns interest
  • It has a lower minimum account balance of MWK 2000

Account opening requirements: Valid passport or valid driver’s license or Malawi Electoral commission registration card with a letter from a recognized authority or a letter from an employer and employees ID. Proof of residence i.e water bill


Students Savings Account

This is a transaction account for College students. The aim of the account is to nurture and instill savings culture in students.

Features
  • Customers can access funds from any NBS Bank Service Centre
  • It is cheap to manage
  • It earns interest
  • It has a lower minimum account balance of MWK 1000
  • It has no ledger fees

Account opening requirements: A letter from the institution plus a students ID

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