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Savings Account

Adding value to your money

Savings Account

A savings account is one convenient way to manage your day-to-day finances. It allows you to carry out your routine banking transactions and enjoy easy access to your money from any of our numerous branches. If you are planning to save in the short term or you are investing cash for the future, Midland Savings and Loans savings account offers the best options for you and your business. The features of this account includes:



  • ATM card use.
  • The minimum amount needed to open this account is GHC 5.
  • Accumulation of funds against unforeseen circumstances.
  • Savings checkbook/passbook issue.
  • Withdrawal on account is twice a week (extra withdrawal attracts a penalty of GH¢2).


  • Safe custody of your money.
  • An attractive interest rate (5% per annum, applied monthly).
  • Building bulk substantial deposit.
  • Easy access to loans.
  • Flexible cash withdrawals terms.
  • Savings / Passbook to track withdrawals and deposits which makes monitoring of accounts easier.
  • Access to numerous Bank and group ATM cash withdrawals on our numerous Banks’ ATM.
  • Networked branches at advantageous locations to meet all your banking needs.
  • Earn more on your money with attractive interest rates.
  • SMS Banking.


Requirements needed for opening this accounts are:


  • A valid ID (driver’s license, passport, voters ID)
  • 2 passport size pictures
  • Proof of residential address (Utility bill)
  • Letter of introduction from an employer (Optional)
  • Minimum deposit of GHC 5

(Sole Proprietorship)

  • Certificate of registration of business name
  • Form A/B details of owner
  • Current registration receipt
  • Sole proprietorship mandate form


  • Form A incorporation of partnership
  • Form B change of particulars if any
  • Form C annual renewal of registration
  • Partnership agreement
  • Mandate form 1385 (1)
  • Current registration receipt


  • List of officers
  • Constitution or rules
  • Mandate form 1385 (4)

(Limited liability Company)

  • Certificate of incorporation
  • Certificate to commencement of business
  • Regulation/Memorandum of Association
  • Form 17, particulars of change if any
  • Mandate form 1385 (8)


  • Certificate of registration from the ministry of education required in addition to the normal mandate
  • Requirement for sole proprietorship/partnership/limited liability companies/societies.

(State Corporation/ Government Agencies)

  • Instrument of incorporation
  • Letter of consent
  • Mandate form 1385 (4)

(External Companies)

  • Article of association
  • Power of attorney
  • Confirmation letter from registrar of external companies
  • Bank mandate form 1385 (4)
  • Bank mandate form 192



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SAVINGS WITHDRAWAL BOOKLET: The MSL Savings withdrawal booklet is a pre-printed savings booklet bearing the unique account number and name of an MSL Savings Account Holder. The booklet contains slips which must be completed for use over the counter to withdraw money from a savings account. This booklet will gradually replace the savings withdrawal slips which serve the same purpose.  The customer must provide the following information on the slip on presentation for payment; the date, their signature and the amount they wish to withdraw.   Most banks will also ask for identification to verify that the bearer of the slip is the account owner. The MSL Savings withdrawal booklet is ONLY for withdrawing from a savings account just as a cheques book is used to withdraw money from a current account except it cannot be accepted for clearing or for payment into other accounts.


  • It consists of several leaflets making up a booklet.
  • The individual account number and name
  • It has a column for date, amount in both figures and words, and signature.
  • It cannot be accepted for clearing. This means that it cannot be issued to a third party for payment or deposited into another bank account.
  • It cannot be used to make payment to a third party or presented by a third party for payment.
  • For each booklet request, a customer pays GHC 5.


  • Easy to carry in your bag.
  • Service delivery is quick, saving the customer time as the customer may have filled and signed the slip before coming to the banking hall.
  •  Convenient to use.