As end of year nears and many commence making New Year plans, many probably have set goals and targets of purchases and investments they would like to make in the coming year.

Among the ways to finance the grand plans is through putting aside part of one’s income as savings.

As most have found out the hard way, keeping physical cash as savings is not as easy as said as it is easily spent.

To ease the savings process, Banque Populaire du Rwanda Plc facilitates individuals who have savings ambitions.

Through the product dubbed Gwiza savings account, individuals (salaried and self-employed) can meet their savings goals and ambitions.

Essentially, a savings account is a deposit account that’s designed to hold money you don’t need or plan to spend right away.

The account has a minimum balance of Rwf 5,000, meaning that clients’ balance cannot go below the amount.

Savings earn an interest of 8 per cent per annum with interest calculated on a Monthly Minimum Balance and paid out one annually.

Clients have the liberty to withdraw at least once a quarter up to 30 per cent on the saving account. A second withdrawal in a month attracts loss of interest in that quarter.

Such products have been termed by experts as an ideal way to build savings as they stand in when personal savings discipline may falter.

While most save what is left off their monthly expenditure, financial experts advise that savings should have a specified amount and put aside before expenditure. This they say serves to foster discipline.

Having a set savings goal or target has also been termed as necessary in one’s savings journey as it can serve as a motivation in the process and keeps one going.

Clients can open a Gwiza savings account at any BPR Plc branch countrywide and commence their savings journey with the bank.