How SAJIDA Foundation Nearly Doubled Customer Uptake of Savings Accounts

Afsana works at a garment factory in Dhaka and has two young daughters. She recently opened an Astha term deposit account with SAJIDA Foundation for 10,000 Bangladeshi Taka ($120) after learning about its benefits from a loan officer. For Afsana, Astha has allowed her to lock away a lump sum which is difficult to do on her limited salary and pressing needs. She explains, “My children are studying. I want to invest money for their higher education. I would also like to save up to build a house in the village one day.”

Astha, a term deposit account, allows SAJIDA Foundation members to save toward a purchase or financial goal. Members can deposit small amounts for a specified length of time while earning at-market interest. Astha, meaning “reliance and dependability” in Bengali, is a product of SAJIDA Foundation, an NGO which offers a microfinance program and various health and other development initiatives throughout Bangladesh, including long-term savings options for unbanked or underbanked individuals like Afsana. Continue Reading. 

Source: http://nextbillion.net/how-sajida-foundation-nearly-doubled-customer-uptake-of-savings-accounts/