Fidelity Flip Account. What You Need To Know. May 2022

In this post, I will be taking you through everything worth knowing about the Fidelity flip account. 

Let’s first find out what the Fidelity flip account is and then we will move on to its features and benefits, shall we?

Alright, let’s go!

Table of Contents

What is Fidelity FLIP Account 

The FLIP stands for Fidelity Lifestyle Investment Plan, so basically, this investment package is an all-inclusive and goal-oriented investment plan designed to enable you to meet long-term financial goals and aspirations. 

The FLIP Account comes in two main types ie the FLIP GHS account and the FLIP USD Account

Let’s take them one after the other and find out more about their benefits and features. 

Fidelity Lifestyle Investment Plan (FLIP GHS Account)

FLIP is indexed to the GoG 91-Day Treasury bill with the convenience to build up investment contribution through weekly or monthly contributions from as low as GHc50 or more.

Fidelity Flip Account. What You Need To Know 1

Features

  • FLIP account to be funded through Fidelity bank Current or Savings account.
  • Must have an existing savings or current account with Fidelity Bank Ghana.
  • No debit card or chequebook issued on investment account.

Key Benefits

  • Flexible contribution options- daily, weekly, monthly, or quarterly
  • Conveniently start with as low as GHS50 or more
  • Competitive returns on investment indexed the 91-Day GoG T-bill rate
  • Interest is calculated daily and paid quarterly 
  • No fund management fees or administrative charges 
  • Withdrawal before maturity (3 years) attracts a Withdrawal penalty 
    • 1% of withdrawal amount for first 2 withdrawals within the same calendar year 
    • 3% of withdrawal amount for 3 withdrawals or more within the same calendar year 
  • No withdrawal fee upon maturity.
  • Account holder is eligible for a FLIP Loan up to 90% of the total FLIP investment.
    • Repayment period up to 12 months.

The FLIP USD

The FLIP USD account is a US dollar-denominated short-term investment that offers competitive interest on your dollar funds. Enjoy the flexibility to build up your USD funds to meet short-to-long term plans by making monthly deposits into your FLIP USD.

Features

  • The minimum starting investment is US$5,000
  • The minimum monthly contribution is US$100
  • The minimum balance to earn interest is US$5,000 + monthly contributions
  • The minimum investment period is 3 months, with automatic roll-over
  • Withdrawal within the investment cycle will result in forfeiture of interest for the current quarter
  • No withdrawal or management fee.

Key Benefits

  • Flexible investment contribution plan to meet your financial goals
  • Earn competitive returns on your USD funds indexed to the USD LIBOR rate
  • Free Standing Instruction to linked to your USD transaction account
  • No Administrative or Management fees
  • You can access a cash-baked loan facility of up to 70% of your USD investment value
  • Track your investment via the Fidelity Mobile App

Fidelity Customer Care

Need help with questions?
Call 0800 00 3355
WhatsApp – 0245226400
[email protected]

 

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