CDHIB’s prime investor account interest rates increased from 6% to 7.5%
In its commitment to give back to the nation as it celebrates its 10th anniversary — under the theme ‘Creating Value’ — CDH Investment Bank (CDHIB) has revised the interest rates for its prime investor’s account from 6.00% to 7.50%.
This is besides the various stakeholder engagement activities the bank has undertaken this year and in increasing the interest rates, the Bank has gone a step further to create value for existing and potential clients.
The bank’s Marketing Manager, Nancy Bisika said the decision was made in order to allow individuals and businesses to enjoy better returns for their savings.
“The prime investors account allows customers, committed to saving money, to invest for future projects or unforeseen cash flow needs,” she said. “Besides the attractive interest rate, the account has no ledger fees allowing customers savings to grow.
“We appreciate the support that we have received over the years and felt it was important to give back to customers by increasing the interest rate of return of our investment accounts.”
Bisika added that the prime investors account “offers flexibility to customers as it is accessible through digital platforms such as internet banking, ATMs and additionally comes with a special savers checkbook to help customers track their expenses”.
“The account allows the owners or third parties such as SMEs and individuals to cash out from CDH Investment Bank counters without the presence of account signatories.
“We are aware that during the festive season, some individuals are privileged to cash out funds through bonuses, village banks and the maturity of other interest bearing savings.
“As such we intend to spice the festivities by creating value for these funds with the attractive interest rate. The enhanced features for the prime investors account will provide more convenience to clients.
“In a world with high cost of living, high taxes, high everything, who doesn’t want a bank account that will grow their money without bank charges”.
CDHIB — which has been honoured with the 2022 Investment Bank of the Year in Malawi by The Global Banking & Finance Review Magazine — opened for business on April 2, 2012, following the successful conversion from Continental Discount House Limited, which had operated in the financial sector for 14 years since August 1998.
The Global Banking & Finance Review Magazine is a leading online and print magazine in the United Kingdom and CDHIB was recognized for its determination and various strides in investment banking and advisory that have contributed positively to economic growth.
The Bank has also been involved in several corporate social responsibilities (CSR) and stakeholder engagement activities as part of the 10th anniversary celebrations.
Among the many services that the investment bank has provided to its customers include supporting the Government of Malawi in managing national food security, advice on the formation of an additional sugar manufacturing company in Malawi and creation of a national development fund.
Commenting on the award, CDH Investment Bank Deputy Chief Executive Officer and Executive Director, Thoko Mkavea, said the award is a testimony of the positive contribution which the bank has made to the economy over the 10 years in which it has operated in Malawi.
“We are honored to have been recognized this year, as we celebrate ten years of operations as an investment bank,” he said. “Our founder’s dream — when forming the investment bank in 2012 — was to create a specialist financial institution that provides a blend of investment banking and, financial advisory services and wholesale commercial banking to selected clients.
“We are proud of the many milestones we have achieved so far over the years.”
CDH Investment Bank opened for business on April 2, 2012, following the successful conversion from Continental Discount House Limited, which had operated in the financial sector for 14 years since August 1998.
The bank has grown through leaps and bounds and contributed positively to growth of many individuals, organizations and communities and ultimately the nation in the past decade.
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