ASA Savings and Loans Limited, incorporated on 19th of June 2009 with registration number CA-60,423 by the Registrar General Department under the Laws of Ghana, is a private company limited by shares with its head office in Accra. The company is registered by Ghana Investment Promotional Center [GIPC] and licensed by Bank of Ghana [BoG]. It commenced Savings & Loans operations from April 2013.
ASA Savings and Loans Limited took over from ASA Ghana, a Financial Non Governmental Organization operating as micro finance institution and replicating the successful microfinance model of ASA Bangladesh.
The main focus of the company is to provide financial services to assist people in the informal sector that are constrained with financial assistance to establish their own business or to expand their existing business as well as to meet their financial obligation. Customers focus is the key tenant of ASA Savings and Loans philosophy.
ASA Saving and Loans banking activities will gradually deal with large number of customers, such as Group of Individuals, Societies, Associations, Clubs, Schools, Churches, Enterprise, and Corporate Bodies. The company envisages introducing other services including mobile and electronic banking, fund transfers among others.
PRODUCTS AND SERVICES
Small Loan: This product is designed for clients who cannot afford formal bank loans due to the nature and size of their businesses. It is a group based loan tailored to improve existing businesses through easy access and a comprehensive repayment method.
The loan duration is respectively 6 months at 20% interest rate, and 12 months at 35%.
Individual Loan: This is a term loan meant for small and medium enterprises as well as individuals in trade or commerce, services, agriculture and transport sectors of the economy. This loan can be taken for either 3, 6 or 12 months based on the needs of the customer; repayment can either be monthly or fortnightly at a rate of 3.5% per month.
ASA Standard Savings Account: This is an individual personal account designed to offer innovative savings to both prospective and potential customers who want to set aside any surplus funds for the future. The minimum deposit for opening this account is GHc 5.00
- Instant access to savings
- Unlimited number of withdrawals
- No charges
- Earn up to 10% interest
- Interest paid quarterly
- Daily cash collection service is available for free
ASA LTS Account (Long Term Savings Account): The LTS Account is a special savings account that give you the opportunity to save and accumulate wealth. It also helps you to save towards your dream (such as buying a car, land, house, payment of rent, child school fees, marriage etc).
LTS is a savings accumulation plan which assists you to accumulate funds through consistent weekly or monthly savings and guarantees you high yields up to 18%. It is a high yielding savings account which allows you to top-up the funds already invested.
ASA Fixed Deposit Accounts: It is an Investment account specially designed for clients who do not have immediate use for their funds and yields more than a regular savings account
- Secured investment with very attractive interest rate
- Available for 3, 6 and 12 month periods
- Rates for investments from GHC50,000 and above are negotiable
ASA SL Current Account: It is a transactional account that gives you the freedom to manage your money the way you desire.
- Low initial deposit to start account
- No COT/monthly charge
- Personalized cheque book
- Unlimited number of withdrawals
- Access to ASA loans and other services