Money smart with NamPost

The concepts of budgeting and saving have become a part of every household, and parents are constantly trying to find ways to help their families and children save.

NamPost has the answer to all your saving questions.

They have three packages available specifically aimed at low- to middle-income groups. These packages offer parents the opportunity to save money effortlessly.

“These packages are also ideal for families with children, because they enable you to save for their school uniforms and stationery, or matric farewell outfits. NamPost offers a variety of investment options to ensure financial inclusion,” said Wilson Shikoto, the manager of corporate communications at NamPost.

The Flexi Save-As-You-Earn, Save-As-You-Earn and My Choice packages offer easy and affordable ways to save. These accounts can be used by parents to save for their children, or even by children themselves.

“All the saving options are flexi and you can deposit a minimum amount of N$50 into the account. Your children will be able to save a portion of their monthly allowance by depositing it into the account,” Shikongo added.

He said saving is a life skill every child should learn.

“The saving options provide you with the opportunity to finally buy the items you’ve always wanted in life, and it helps by keeping kids out of financial trouble and makes them independent.”

He further said as a parent, you can help your child by opening the account with them and teaching them the essence of saving.

Visa-branded smartcard

“Saving makes kids feel happier and responsible. NamPost also introduced a Visa-branded smartcard and parents can open accounts for their children,” Shikongo further added.

The following benefits are included with the card:

· Biometric signature and the PIN provide additional security to prevent unauthorised access.

· Point-of-sale purchases at retailers and ATM transactions at commercial banks.

· Conveniently linking a power of attorney card to enable transactions on behalf of the principal account holder.

· Low transactional fees.

· Funds can be transferred to another NamPost account or a third-party account (i.e. other banks).

· Buy pre-paid airtime and pre-paid electricity at your convenience.

· Affordable funeral cover can be added to your transactional account (optional).

· A savings account allows you to save for the future and can easily be added to your transactional account upon request.

· Business owner or groups can decide how many signatories have authorisation to handle their account.

Contact NamPost and start saving today!



Fact box

Flexi Save-As-You-Earn

· A tax-free interest rate of 2.75% per annum

· No bonus

· Investment period of one year only

· Minimum investment amount of N$100

· Additional deposits of N$50 and more can be made

Save-As-You-Earn

· A tax-free interest rate of 2.75% per annum calculated on a daily balance

· A bonus is payable on the total interest earned upon maturity depending on the invested amount.

· Minimum investment amount is N$50 and recurring monthly payments equal to the initial deposited amount

My Choice

Some customers want to invest funds for a specific number of days or want their funds after a specific number of days, or want their funds at a specific date.

· The duration of the investment is dependent on the client

· The rate will be determined by the period and amount invested

· Minimum investment amount of N$500

· Additional deposits of N$500 and more can be made during the period