Employee Savings Account
The Employee Savings Account is designed to support workers across both public and private sectors, offering convenience, security, and access to essential banking services.
Features
Zero account opening fee
Minimum opening balance: SLE 50
Interest at the normal savings rate (3%)
Easy conversion to a standard savings account upon request or change of employment status
Access to internet banking
ATM debit card for everyday transactions
Access to loan facilities if employers are listed counterparties with Commerce & Mortgage Bank
Target Market
The Employee Savings Account is ideal for:
Employees in both private and public sectors
Blue-chip companies
Multinational corporations
Government ministries, agencies, and parastatals (e.g., Parliamentarians, Accountant General’s Department, Auditor General’s Department, NRA)
Security and enforcement bodies: Police, Navy, Military, Customs, Immigration, and paramilitary organizations
Higher institutions and private schools
Teaching hospitals
Documentation Required
To open an Employee Savings Account, please provide:
Valid National ID
Letter of introduction from employer
Two passport-sized photographs
Recent utility bill
Residential or work permit (for non-Sierra Leoneans)
ECOWAS ID or International Passport