Accra, Aug. 31, GNA - The management of HFC Bank on Tuesday launched its 2010 Homesave Promotion, which aims at rewarding customers with their own homes at affordable price and convenient place in the country.

Mr Asare Akuffo, Managing Director, HFC Bank, who launched the promotion in Accra, said interested persons ought to open a Homesave Account, a unique product that combined investment and savings.

He said as an investment account, a customer was encouraged to either make a lump-sum deposit or periodic deposits to meet the down payment required to access the mortgage loan.

Mr Akuffo said this year's promotion had been enhanced and involved three unique products, which were HFC Life Starter, Students Plus and Smartsave accounts. A customer must deposit multiples of GH¢100 in each of the accounts.

He explained that each deposit qualifies the customer for a coupon and maintain the deposit for a minimum of 180 days for a chance to win 3 beautiful 2-bedroom houses in the grand draw by three different people.

Mr Akuffo said the accounts have been designed for people, who desired to own homes within the shortest possible time at the most affordable and convenient space of time.

He said there would be other prizes such as laptops, home theatres and beach umbrellas and sports bags.

"The promotion gives opportunity to all segments of the customer and the public to get involved and reap the benefits of winning a house, save towards owning a home or have a life time saving for meeting future financial obligations" he added.

Mr Charles Ofori-Acquah, General Manager, Business Development Department, HFC Bank, said through the promotion, the bank had championed the provision of home ownership in the country for the past two years and had helped over 7,000 people to own their homes.

Mr Ofori-Acquah said a customer can make regular deposits into his savings account or establish standing orders to feed the account to the level required for a down payment for a mortgage loan.

The savings account, he said attracts benefits such as 20 per cent cost of house, higher interest rates than the normal savings account and the account can be used as collateral to secure a loan.