Among the host of Savings Account from Fidelity Bank, the Fidelity Bank High Yield Savings Account is one of the best. The HYSA from Fidelity Bank not only allow you save but also helps you save and earn more.
Opening the Fidelity Bank High Yield Savings Account(HYSA) gives you access to high interest rate. The interest rate associated with he HYSA is as high as 4.6% to 5.6% every year. They also have access to both Visa and MasterCard Debit Cards.
In this article we’ll introduce you to this type of savings account and also show you how to apply for this account. We’ll also show you the features and some benefits of getting this account type from Fidelity Bank.
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What Is Fidelity Bank High Yield Savings Account (HYSA)
HYSA is a type of Savings Account offered by Fidelity Bank that have the features of Fixed Deposit Account. The HYSA pays you high interest for your savings. Its interest rate is between 4.6% to 5.6% every year. The major difference between the HYSA and a Fixed Deposit Account is that Fixed Deposit Accounts have specific time frame.
This means that you can specify that you’ll keep your money with the bank for two years in the case of Fixed Deposit Account. And it is only after the agreed tenure will the Bank pay you the interest and money(Subject to terms and Conditions). But with HYSA you get to enjoy the interest rate every year.
Features And Benefits Of Fidelity Bank High Yield Savings Account (HYSA)
Below are some of the features and benefits related to the HYSA.
- You can open account HYSA with any amount.
- Get a Debit VISA or MasterCard.
- ATM and POS transactions.
- Access to Internet Banking Services
- Free access to internet and mobile banking.
- Allows deposit of cheques & dividend warrants.
- Extra 1% bonus interest if withdrawals are not made in six (6) month.
- Monthly interest payment (not applicable if customer makes more than 4 withdrawals in a month)
QUICK NOTE: One of the terms and condition associated with this Savings Account is that making withdrawals more than 4 times in a month won’t attract any Interest for that month.
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Requirements To Open The Fidelity Bank High Yield Savings Account (HYSA)
Below are some of the documents you need before you can successfully open the HYSA account with Fidelity Bank
Personal Requirements
- 1 completed reference form
- Valid means of identification(Voters Card, Drivers License, International Passport).
- Utility bill(Electricity payment, Water or cable subscription payment receipts).
- One recent Passport photograph
Corporate Requirements
- 2 reference forms by Corporate current account holders.
- Valid means of identification(Voters Card, Drivers License, International Passport).
- Board resolution with company seal.
- Utility bill(Electricity payment, Water or cable subscription payment receipts).
- Two recent passport photographs.
- Incorporating documents
Quick Note: The Identification is needed to serve as proof that you are human while the Utility bill is important to verify your billing address.
Who Can Open The Fidelity Bank High Yield Savings Account (HYSA)
The HYSA is targeted wt individuals and cooperate organizations. This means that you can open this account type as an individual or as a cooperate body. SMEs can also open this type Savings Account.
How To Open The Fidelity Bank High Yield Savings Account (HYSA)
Unlike other Savings Account type offered by Fidelity Bank, the HYSA can only be opened in any Fidelity Bank branch.This means that it can’t be open via their online portal. So visit any Fidelity Bank near you to open the HYSA today.
The Fidelity Bank High Yield Savings Account (HYSA) is one everyone should have. And its very easy to open and convenient to operate. You can also check out other savings account from UBA Bank, GTBank, Access Bank, Zenith Bank and FirstBank.
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