It is an investment account for an indefinite period, which may be withdrawn on demand. Our Call Account operation is currently automated under a system called SWEEP. This system provides a direct linkage between your Current Account and Call Account, such that funds in excess of an agreed threshold on the Current Account will automatically sweep into the Call Account and vice versa on daily basis – devoid of any manual intervention. This provides an efficient way of managing any surplus funds in your account whilst giving you the freedom to operate the current account in settlement of all your financial obligations.
It is an investment vehicle whereby customers lock in a fixed amount for a fixed period at a guaranteed interest rate. This offers many benefits to the customer including:
- Wealth Accumulation – high interest is earned on deposits and the interest earned can be credited to your Savings or Current account to provide regular income
- To secure loan / overdrafts – it can be pledged against overdraft or loan facilities