Open Cash Management Account to save money: Kina Bank

By JUNIOR UKAHA
PEOPLE who want to make a little extra money on their savings can open a ‘Cash Management Account (CMA)’ with Kina Bank, a bank official says.
Kina Bank’s executive general-manager (banking) Danny Robinson said the CMA was an account that added interest to the balance kept in the account.
Robinson said this new product aimed to put a little extra money on what customers deposited.
The product is targeting corporate clients, small-to-medium-enterprise owners and members of the public.
The interest is paid over a period of time and depends on the balance in the account.
“Our CMA is an add-col product which means that people can put their money in and take their money out the same day,” Robinson said.
“What it does is that it offers an interest on your deposits, so people can look forward to manage their cash flows better.
“If they have excess cash in their cheque accounts or savings accounts, they can put it in a CMA and we’ll be paying interests on those balances.
“The interest rate is tied and depends on the balance of the account. The highest rate is 2 per cent.”