Deposit Products

  • Jula Account – START SAVING TODAY WITH ONLY D25!

    The Jula Account is a star product which allows an individual unlimited deposits and unlimited withdrawals as may be required. The Jula Account is designed to encourage a savings culture amongst Gambians, banked and unbanked and for this reason the minimum opening balances and operating balances are kept at the lowest minimum.

    Interest Payable

    • 3% Per Annum (payable in June and December)

    Account Opening Fee

    • GMD25.00

    Savings Frequency

    • No limits on number of deposits

    Withdrawal Frequency

    • No limits on withdrawals

    Minimum Opening Balance

    • D100.00

    Minimum Operating Balance

    • GMD100.00

    Product Benefits

    • Fast account opening process
    • Unlimited withdrawals allowed
    • Low entry requirements
    • Low minimum operating balance
    • Account accessible from any Reliance outlet
    • Provides Access to credit
    • Possibility of withdrawal instructions / standing order
  • Yiriwaa Savings Account - DREAMS DO COME TRUE

    Yiriwaa Retirement

    This product is specifically designed for self employed professionals working in the informal sector with the need to have access to a relevant personal pension plan product to cater for their retirement. For most of these people, they do not have access to any form of social security benefits and therefore their sources of income dries up the moment they stop working. This product creates that comfort wherein the person’s savings is interlinked with protection. People within these sectors are given the opportunity to save towards their retirement and access a lump sum payment at maturity which is guaranteed even in the event of premature death.

    Yiriwaa Education

    The Education Plan is targeted at parents who want to start saving towards the future education of their children. Generally each year thousands of high school graduates fail to continue their education in tertiary institutions based on the lack of finances from their parents. This product will provide a savings plan for each parent whether working in the formal / informal sector of the economy to see their children through university or other forms of tertiary education through better financial planning.

    Yiriwaa Housing

    Affordable housing schemes have been absent in the market for most Gambians whether in the formal or informal sector. This product aims to actualize the dreams of most Gambians by providing the platform where one is able to save up enough to serve as collateral for a micro housing loan (once criteria is met). This will create an avenue where people can acquire their own property as opposed to paying rent to another individual for the rest of their lives.

    Interest rates

    • 8% Per Annum (payable in June and December)

    Savings Frequency Options

    • Daily, Weekly, Bi Weekly, or Monthly

    Contract Tenure

    • 3 yrs/5yrs/10yrs/15yrs/and 20 years

    Minimum Amount to save

    • D10 daily – and above

    Minimum Operating Balance

    • GMD250.00

    Account Maintenance Fee

    • D5.00

    Payment Mode

    • Direct Debit from Jula Acct into the Yiriwaa Savings Account – All Yiriwaa account holders must have a Jula transactional account wherein contributions will be collected from on an agreed timeline / frequency as detailed above.
    • Cash deposit into the Jula account

    Product Benefits

    • Account balance can be used as cash collateral to secure a credit facility with the Company e.g. Micro housing loan, Business loan etc. if client meets the eligibility criteria of those products.
    • Account accessible from any Reliance outlet.
    • Account comes with an embedded life insurance cover for up to GMD100, 000 in the event of death before maturity of plan.
  • Premium Savings Account – REAL SAVINGS FOR REAL PROJECTS

    This is a special product that encourages a stricter regime of savings. It encourages frequent deposits but allows limited withdrawals. This product is specifically designed for the active saver.

    Interest Payable

    • 7% Per Annum (payable in June and December)

    Account Opening Fee

    • GMD30.00

    Savings Frequency

    • No limits on number of deposits

    Withdrawal Frequency

    • 2 withdrawals allowed per month

    Minimum Opening Balance

    • D300.00

    Minimum Operating Balance

    • GMD1,000.00

    COT Charges

    • No COT Charged on the account

    Product Benefits

    • Fast account opening process
    • Low entry requirements
    • Low minimum operating balance
    • Account accessible from any Reliance outlet
    • Provides Access to credit
  • Entrepreneurial Savings Account

    The Entrepreneurial Savings Account is a contractual savings plan for individuals aspiring to start a small business or existing entrepreneurs who need capital for future growth and expansion plans. After the end of the contract period, the saver is eligible to borrow up to 3 times their savings balance. The contractual tenor can be from 6 months to 12 months.

    Interest Payable

    • 7% Per Annum (payable in June and December)

    Minimum Opening Balance

    • D500.00

    Minimum Operating Balance

    • D500.00

    Account Opening Fee

    • GMD30.00

    Savings Frequency

    • Daily / weekly / monthly plan for the duration of the tenor

    Withdrawal Frequency

    • No withdrawals allowed during the tenor of the plan

    COT Charges

    • No COT Charged on the account

    Product Benefits

    • Fast account opening process
    • Low entry requirements
    • Lowered opening balance
    • Low minimum operating balance
    • Account accessible from any Reliance outlet
    • Provides Access to credit
    • Is suitable for both individuals and businesses
  • Minor Account – GIVE YOUR CHILD FINANCIAL INDEPENDENCE BY AGE 18

    Open a minor account today for your child to instill a culture of savings in them and also set them on the route to financial independence. Once the child reaches the age of 18, they can then access the funds in the account.

    Interest Payable

    • 7% Per Annum (payable in June and December)

    Minimum Opening Balance

    • D300.00

    Minimum Operating Balance

    • D300.00

    Account Opening Fee

    • GMD30.00

    Savings Frequency

    • Daily / weekly / monthly plan for the duration of the tenor

    Withdrawal Frequency

    • Unlimited

    No COT Charged on the account

    • No COT Charged on the account

    Product Benefits

    • Promotes financial independence for the child
    • Instills a culture of savings in the child from an early age
    • Fast account opening process
    • Low entry requirements
    • Lowered opening balance
    • Low minimum operating balance
    • Account accessible from any Reliance outlet
  • Cash Management Account – YOUR LIFELINE FOR YOUR BUSINESS

    The cash management account is specifically targeted at Business Owners who have the need to pay suppliers or other entities. They are issued with a co-branded cheque book for their business use.

    Minimum Opening Balance

    • D0

    Minimum Operating Balance

    • D100

    Account Opening Fee

    • D0

    Savings Frequency

    • Unlimited

    Withdrawal Frequency

    • Unlimited

    COT Charges

    • D3.00 per mille

    Product Benefits

    • Access and full use of a cheque book
    • Fast account opening process
    • Low entry requirements
    • Lowered opening balance
    • Low minimum operating balance
    • Account accessible from any Reliance outlet
    • Provides access to credit
  • Fixed Deposit – A SAFE HAVEN FOR YOUR MONEY

    Interest Payable

    • Varies according to amount

    Minimum Opening Balance

    • D5,000

    • D5,000

    Minimum Tenor

    • 3 months (renewable)

    Account Opening Fee

    • N/A

    Savings Frequency

    • Single deposit into account

    Withdrawal Frequency

    • No withdrawals allowed

    COT Charges

    • No COT Charged on the account

    Product Benefits

    • Competitive interest rates
    • Fast account opening process
    • Low entry requirements
    • Lowered opening balance
    • Low minimum operating balance
    • Account accessible from any Reliance outlet
    • Deposit can be used as collateral for facilities
    • Safe and secured way of saving
  • Deposit for Development – D4D – REALISE YOUR CSR OBJECTIVES

    The Deposit for Development scheme is a new socially responsible investment initiative launched on the 18th of April 2007.

    Target Market

    • Paratastals
    • Non-Governmental Organisations
    • Embassies & Consulates
    • Multilateral Development Agencies
    • High Networth Individuals

    The Scheme

    Institutions can elect to deposit a minimum of D250K for a minimum tenor of six months, renewable on expiry. There are four deposit tiers:

    • Platinum – minimum deposit greater than D10M
    • Gold - deposits between D5M and D10M
    • Silver - deposits between D1M and D5M
    • Bronze- Deposits of D250K and GMD1M

    These deposits are then used by Reliance to finance micro, small and medium size businesses in the chosen community.

    In order to meet their Corporate Social Responsibility (CSR) obligations, investors are given the opportunity to choose the sectors and groups whose activities align with their corporate objectives and values as priority intervention segments for Reliance. At the end of the investment period, the agreed interest is paid on the investor′s deposit, after which there is an option to re-invest in the scheme for another period.

    Benefits

    • Hands-on, direct contribution to development.
    • Meaningful discharge of your corporate social responsibility objectives, whilst maximizing shareholders’ returns
    • Assurances that your contributions go towards development, and the impact of your investments will be tangible (you will receive testimonials from businesses who have benefited directly from this initiative).
    • Nationwide recognition, through a displayable Partner in Development Certificate program, notable mention in annual reports and quarterly Reliance Newsletters.
    • Offers reasonable interest returns
    • Positive social impact
    • Raises the publicity profile of the institution in the selected community
    • Increases customer loyalty
    • Helps the customers meet their Corporate Social Responsibility objectives

    Benefits for The Gambia and its People

    • To support Government and other development role-players in improving the quality of life of the people of The Gambia through the funding of entrepreneurship projects;
    • Accelerate the sustainable reduction of poverty and restoring dignity; and
    • Promote broad-based economic growth and nationwide economic integration