No charges for the old
Since the launch of Bank Windhoek’s SeniorSave product in 2006, thousands of Namibian senior citizens older than 55 are benefiting from this accessible and affordable product and are reaping the rewards of free services, reduced fees, excellent interest rates and access to essential banking features that they require for their day-to-day banking.
“Understanding that our senior citizens have unique banking needs, and appreciating the long road that our senior citizen clients have walked with us, Bank Windhoek created this product to make banking a more rewarding experience for our senior clients and to add more value for them” the bank said in a statement.
“It is not a myth that some senior citizens are keeping their hard earned money and their monthly state pension benefits under mattresses to avoid banking charges. This practice is not safe as other people would most often know where their grandmothers and grandfathers keep their money. This product was therefore introduced to instil trust among senior citizens that banking services can indeed be accessible at very low costs,” said Bokkie Cloete, manager: Business Development.
The SeniorSave product offers an affordable fee structure as no monthly service fee is charged. A number of transactions are also offered for free, such as ATM withdrawals at Bank Windhoek ATMs and Bank Windhoek Point-of-Sale transactions.