Absa unveils Youth Banking bundle
In a move to support younger customers transitioning into adulthood, Absa Bank of Botswana has introduced a youth-focussed value proposition dubbed Youth Banking.
The new offering, which targets customers from 0 to 30 years of age, provides access to a suite of solutions to serve their transactional and savings needs, as well as borrowing and protection needs as their financial sophistication grows and reaches different stages of life. Absa retail director, Valeta Mthimkhulu said they recognise the incredible role that youth plays in the economic development and growth of the nation as they are the backbone of any society. “We are excited to bring a youth value proposition to the market that has the potential to make a real difference in our customers’ lifestyle,” she said. The new value proposition aims to provide convenient and affordable banking solutions including the FutureU account, Ignition account, and the new Graduate Starter Pack.
The FutureU Savings Account is made for young people between the ages of 0-18. This account allows parents to save for their children’s future while they are young from only P50 with no maintenance fee. This offers them the opportunity to grow their savings while they also grow.
The Ignition Current Account is directed at young people up to 24 years. This account recognises that users have reached an age where their tastes have become more distinct, and they demand more control of their life.
It comes with a free debit card that allows them to make purchases on the move and track their spending, free mobile banking anywhere at any time as well as free access to the Youth Hub to get them ready for the next chapter of their growth.
The Graduate Starter Pack is targeted at young adults less than 30 years. These are youth who have graduated and are looking to move on to the next stage of their life. This is the ultimate bundle that will set them up so they can keep growing into the life they envision.
“This account features graduate loan up to P75,000, credit card with a starting limit of P2,000, free P5,000 funeral insurance cover and free P10,000 accidental funeral cover,” she said.