Ghana's 2020 tally: 11 savings and loans companies.
As humans we all need to advance to new levels in life. There are many opportunities in Ghana to propel you to success and the long list of savings and loans companies in Ghana are the secret ingredient to your recipe of success. So why should you go for a saving and loans companies like ASA Savings and Loans and First Allied Savings and Loans in Ghana? Well let’s face it, most commercial banks are out there to make a profit without minding your dreams and ambitions. This is where savings and loans companies in Ghana come in handy. They are a close listening partner that understands your needs to succeed in life.
The reality on the ground is that there are many small-scale businesses and other self-employed groups in Ghana which cannot be satisfied with the traditional commercial banks. Most of the Ghanaians needs are not being met and that’s where most people opt for savings and loans firms in Ghana. They offer tailor made financial solutions to the customers. If you are a hardworking Ghanaian who is looking for a firm that will secure your funds and ensure your future prosperity, we have compiled a comprehensive list of the registered firms in Ghana that offering the savings and loans services
1. Best Point Savings and Loans
The firm is a fully pledged and owned Ghanaian company that was incorporated under the Companies Act (1963) in 2012 to offer express savings and loans services in Ghana. The company re-branded a year after operation in 2013 from Lucky Savings and Loans Limited after which it was issued with a certificate of authorization to commence business in the same year. The firm is fully licensed by the Bank of Ghana to offer savings and loans services in relation with the Non-Bank Financial Institution Act of 2008 (Act 774). The mission of the firm is to be the most cost-effective efficient and unique in providing cutting edge financial solutions to the Micro, Small and Medium Enterprises and households.
Best Point Savings and Loans core values include integrity, teamwork, customer focus, excellence and creativity. Some of the services offered include saving accounts, current accounts, fixed deposit accounts, best kids accounts. They also offer different loans such as auto loan, salary loans, import financing, church loans and SME loans. Other services offered include cash pick services, ATM, SMS alert with also other electronic services such as Western Union Money Transfer, MoneyGram, Vigo, Airtel Money, MTN Mobile Money and Tigo Cash.
- Address: Old Peace Fm Building, Achimota Mile 7, Off Achimota Ofankor Road
- Tel: + 233 303 932 990-4
- Email: info@bestpointgh.com
2. UniCredit Ghana
UniCredit Ghana is licensed under the BOG of the Non-Bank Financial Institutions Act 2008 (Act 774). They have been in operation and offering savings and loans services in Ghana for 11 years and continue to change the landscape of the industry especially with the spread of the branches throughout the country. Their products and services that are convenient, reliable and tailor-made solutions from a highly motivated and experienced staff. The firm also boasts of being among the Ghana Club 100 which is recognition of the top 100 companies in Ghana. They also have financial planning, remittance services, cash flow forecasts and stock management.
The firm offers personalized business advisory services for micro, small and medium scale entrepreneurs through training. They also develop and offer attractive products that suit the various needs of customers who are both in the formal and informal sectors in the Ghanaian economy. Through the innovative deposit mobilization and the credit strategies, they offer more financial services. Customers are assured of guidance to address their banking concerns and realize personal goals in life.
- Location: No. 3 North Ridge Lane, North Ridge, Accra.
- Address: P.O BOX GP 18729, Accra
- Tel: + 233 (0) 302 666 648/ + 233 (0) 277 766 072
- Email: info@unicreditghana.com
3. Abii National Savings and Loans
The company is marking its 7th year anniversary of offering savings and loans in Ghana after being licensed under the Non- Bank Financial Institutions Law, 2008 (Act 774). It is fully pledged and authorized to receive deposits and also offer loans services to customers and other financial institutions. It also has formed an alliance with other commercial banks to offer services such as clearing, direct foreign transfers and other forms of international trade. The core values that make up the structure of the firm include integrity, customer focus, accountability and creativity.
Some of the unique Abii National Savings and Loans products offered include: Asetenapa account, salary advance, overdraft, call account, Abii cheque and save, Abii church account, Abii clearing advance, Abii kiddie account, Abii personal loan and Abii save account. They also have different types of loans such as corporate, revolving, Abii SME loan, personal, salary advance, Abii clearing advance and working capital. They also introduced e-business to their product and services through the internet banking and SMS banking. This assures customers of ease of access of their accounts at the comfort of their homes. They can also receive notifications of transactions direct to their phone.
- Address: Priority House, Adjacent C. Woermann, Avenor Junctions, P.o Box CT 10067, Cantonments, Accra.
- Tel: + 233 302 241 050
- Email: info@abiinational.net
4. Bond Savings and Loans
They are a NON-Bank Financial institution that was licensed to operate and offer savings and loans services under the NBFI law PNDC Law 328 back in 2007. They started off as a finance house and after five years of operation in the industry they scaled up and obtained a license to operate as a savings and loans company. Their vision is to be the first customer’s choice when it comes to offering tailor made solutions that both inspire and generate wealth to all the stakeholders in order to achieve prosperity.
They offer a variety of loan products from: Bond working capital for small-scale businesses, import loan, LPO loan, discount, church finance, educational, asetenapa, hire purchase, executive, Dwadie Boafo, personal and easy insure. They also offer the most competitive investment rates on al savings such as bill rate of 13.30% for 91 days, 13.82% for 182 days and 15.00 % per year. They also have a fixed deposit which has a total turnover rate of up to 8% (negotiable) which is above the current prevailing treasury bill or you can choose the note rate depending on the amount and tenor with the safety of your security in mind.
- Address: Bond House, Meridian Road, Community 2, Tema Ghana
- Tel: + 233 (0) 544 314 705/ + 233 (0) 303 214 444/ + 233 (0) 303 204 332
- Email: info@bond.com.gh
5. Global Access Savings and Loans
Global Access Savings and Loans has been in the financial industry in Ghana for 14 years and in 2010 it ventured into offering savings and loans services to Ghanaians. It has now enjoyed eight successful years of offering cutting edge solutions to Ghanaians when it comes to financial growth and stability. It was issued with the license back in 2009 after meeting the licensing requirements and began its full operation a year later with respect to the new Banking Act, 2004 (Act 673). The firm has managed to expand its operations into Ashanti, Central and Greater Accra regions with a total of 18 functional branches.
The firm is also focused on the development of careers with over 300 employees in the company. With 2 ATMs in 3 regions of Ghana the firm has specialized in offering savings, loan products, remittance services to both small and medium-sized businesses. The main focus of the firm is to provide support to upcoming and small-scale business owners who are the backbone of the economy of Ghana. They have a credit technology drawn from substantial analysis of the ability and willingness of the customers to service the loan to avoid cases of default and maintain the productive use of the loan.
- Address: Citizen Kofi Building Osu Accra. P.O BOX AT 147, Achimota Market, Accra, Ghana.
- Tel: + 233 (0) 302 734 851-3
- Email: info@gaslghana.com
READ ALSO: List of commercial banks in Ghana and their interest rates
6. Midland Savings and Loans
Initially it was called Central Savings and Loans in 1997 where it was incorporated as a limited liability company with respect to the company’s code of 1963 (Act 179). It later re-branded to Midland savings and loans and was duly issued a license by the Bank of Ghana in accordance with the license number FNB/0021. The goals of the firm are to mobilize the savings and offer loans to micro, small and medium-scale enterprises in order to boost the economic growth of Ghana. They have a well-organized and coordinated management staff who are skilled and experienced in the industry and who offer financial solutions to customers.
Some of the most common products offered by the firm include current account, fixed deposit account, kiddie account, savings account and saving plus account. They also have a wide variety of different loan products such as commercial, farmer based, group, personal, salary and susu loans. They also have different services such as E-Zwich, mobile money transfer, money gram, SMS alert, VIGO and Western Union. Some of their key values include professionalism, customer focus, integrity, respect and loyalty. They have an organized business model for ensuring payments of loans on a consistent basis.
- Address: No. 7 Nii Yemoh Avenue OIC Road Zion House, 2nd Floor Shiashie, East Legon, P.o Box CT 3744, Cantonments, Accra Ghana
- Tel: + 233 307 024 133
- Email: info@midland.com.gh
7. First Ghana Savings and Loans Limited
The firm has been in the industry since 1956 when it started off as First Ghana Building Society (FGSL). After a long time of experience in the finance sector, the firm has to undergo significant changes to match with the changing trends in technology and was registered as a limited liability company in 2006. It had previously received certificate of operation in form of the license issued by the Bank of Ghana as a Non-Bank Financial Institution under the Banking Act, 2004 (Act 673) and Non-Bank Financial Institution Act, 2008 (Act 774). Their mission is to be the first and distinctive institution in financial service creation.
The firm offers a variety of loan products from FGSL auto loan, SME loan, salary advance, personal finance, housing microfinance, and mortgage. They have also partnered with the Ministry of Finance and Economic Planning, National Investment Bank and Bank of Ghana. They have an array of different deposit accounts such as savings plus, Daakyi Mpontuo savings, savings and current. They have well experienced and competent staff who are more than willing to offer prompt and current financial solutions to the customers. They use their experience to impact the growth on the part of customers.
- Address: House No. 10, 44, Ringway Estate, Osu-Accra, P.o Box GP 2958, Accra
- Tel: + 233 (0) 302 200 853
- Email: noreply@localhost.com
8. Opportunity International Savings Limited
The firm is licensed by the Bank of Ghana to offer savings and loans services in Ghana. They offer different types of accounts. A savings account earn interest on balance of over GHc 200.00. It helps you to deposit cash and also withdraw at anytime without notice with the minimum opening amount of GHc 10.00 to The current account helps you deposit and withdraw at anytime with the minimum opening amount of GHc 20.00 after which you will be offered a personalized cheque book. The fixed deposit account has a minimum amount of GHc 500.00 which customers are assured of competitive interest rates.
They also have an accomplished loan products and state of the art from banking on wheel, bio metric identification system, micro insurance loans, loan product for disabled fraternity, cinema vans for financial literacy. The Susu deposit account offers a chance for customers who cannot make time to visit their branches. They have an organized system where deposit mobilization officers who visit door to door daily to collect your daily savings. They have a well-established customer service system that is able to cater for different customers at the same time and ensure the same top notch cutting edge service and financial services.
- Address: No. D765/3, Kwame Nkrumah Avenue
- Tel: + 233 302 610 000
- Time: Open from Mon – Fri 8.30 am – 4.00 pm Sunday closed
9. Golden Pride Savings and Loans Limited
Golden Pride Savings and Loans Ltd is licensed under the Non-Bank Financial Institution Act 2008, Act 774 and is fully owned by the Ghana Mineworker’s Union which is in partnership with the Trade Union Congress. They finally opened their doors to the public on 2013 through their head office in Obuasi Central Branch. After five successful years of operation they have managed to open seven other branches in Obuasi, Accra, Sunyani, Tarkwa, Kumasi and also is planning to extend in other parts of the country.
Some of the corporate values include passion, relationship, integrity, diversity and enterprise. They also offer international money transfers such as Western Union, Money Gram and RIA. They also offer different credit facilities and loans such as SME, controller, personal, Susu, funeral and overdrafts. For savers, there are different investments such as golden cover, fixed deposit and specialized services. The saving accounts offered include Royal save, Sikafuturo, Susu, recious kidz. They have a competent staff with a passion to deliver and also provide business advisory services to our customers and corporate individuals as well.
- Address: House No. B3/131 Samora Machel Rd, Asylum Down – Accra.
- Tel: + 233 322 086 050/ + 233 322 540 082
- Email: info@goldenpride.com.gh
READ ALSO: Emergency loans in Ghana: Best instant cash companies
10. SIC Life Savings and Loan Companies in Ghana
It was formally known as SIC Life Trust Finance Limited which was licensed by the Bank of Ghana under the Banking Act, 2004 (Act 673) back in 2010 to operate as a Finance House and later receive the letter of license in 2015. Their strategic priority is to become and remain as a profitable non-bank finance institution that is able to deliver sustainable and quality returns to the shareholders. This is through the low interest and innovative products and services. Their mission is to provide high value financial solutions to all the stakeholders through the professional, excellent and expedient services which builds a long-term customer loyalty. This includes maximizing shareholder value to offer tailor made solution and services.
- Address: P.o Box KN 4768, Kaneshie, Accra, Section 28, Block 15,Tudu, Accra – Ghana
- Tel: + 233 (0) 577 737 826/ + 233 (0) 556 590 241
- Email: enquiries@siclifesl.com.gh
11. Pan African Savings and Loans
Pan African Savings and Loans was founded back in 2008 through a regional partnership between the Group and ACCION investments that is supported by another founding shareholder of the IFC. The firm is well-organized and licensed in offering savings and loans services to different Ghanaians. They have supported the rise of many micro, small and medium scale entrepreneurs scale the heights of success. They offer different loans products that caters for different customers. They have a well skilled and experienced staff who offer ready made financial solutions and consultations to customers on market niches they should invest in.
Source: YEN.com.gh
