Grameen

Questions:

Please describe your idea in further detail. What is the customer need it addresses? What is the benefit it will deliver to the poor?

Bank "Savings Accounts". Does no savings service to poor one because, monthly charges, transaction charges are imposed etc. So if Applab Money can have a true/real savings service for the clients this would help moral boost the culture of savings. Have a provision for subscribers to save certain amount of money (call it a fixed deposit) to which interest is earned after a specified timeline "say 1 quarter a certain %age is earned for saving a given sum of money.

Though at this stage we are more focused on finding ideas that are novel and appropriate for the end-consumer, any idea we test will need to be sustainable. How would this idea appeal to our commercial partners?

"True Savings" in a sense that no charges whatsover are levied to the client. And this account should NOT be accessed by the client for whatever reason till the specified period of the interest is complete. Then they can decide whether or not to conitinue with the savings for next period. If the interest is motivational I believe the clients would motivated to save.