Frequently-Asked Questions
All you need to know about SIMS Investment accounts
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About Unit Trust Funds
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Account opening
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Deposits & Withdrawals
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Benefits and risks
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Charges
Differences and similarities of Stanbic Cash Trust and Stanbic Income Fund Trust
| Stanbic Cash Trust | Stanbic Income Fund Trust | |
|---|---|---|
| Horizon | Short-Medium Term | Medium-Long Term |
| Risk Profile | Low Risk | Medium Risk |
| Minimum Investment Amount | GHS 20 | GHS 20 |
| Withdrawal Period | 24hrs via digital platforms | 24hrs via digital platforms |
| Withdrawal Fee | None | None after 2 years |
| Interest | Interest accrued daily | Interest accrued daily |
Who are the parties involved in operating Stanbic Cash Trust and Stanbic Income Fund Trust?
- Fund Manager - The Fund Manager is the company that establishes the unit trust and is a corporate body licensed by the Securities and Exchange Commission. The Fund Manager is responsible for all investment decisions for the fund. SIMS is the Fund Manager for Stanbic Cash Trust and Stanbic Income Trust Fund.
- Trustee - The Trustee is a company appointed by the Fund Manager to take the property of the unit trust into custody and hold it in trust for the investors. The trustee must either be a bank, an insurance company or a financial institution, or a wholly-owned subsidiary of any of them, approved by the SEC. The Trustee for the Stanbic Cash Trust and Stanbic Income Fund is Universal Merchant Bank.
Kindly visit the Our Solutions for more details on each of our products, including the Trustees.
How do I apply to open an investment account
- Open an investment account online here
- Or Visit any Stanbic Bank branch or our Head Office with the requirements below.
Requirements
As an individual/sole proprietor
- Valid identity document – Ghana Card/passport
- Proof of physical residential address - Ghana Post GPS code; Utility Bill
- Authority to act (if applicable): Power of attorney/ letter of appointment from the court and authorised signatories resolution (if more than one). If applicable: Valid identity document, physical residential address; and Contact details of persons authorised to act
- Unabridged birth certificate for minors (under 18 years)
- Passport size picture
Foreign Nationals
Same as above including
- Work permit (if applicable)
- Resident Permit where applicable
Trusts
- Trust deed or other founding document
- Authority to act – Letter of authority from the Master of the High Court or trustee resolution
- Identity documents and contact details of each trustee and persons authorised to act
- Proof of registered / physical address of Master of the High Court or persons authorised to act
Partnerships
- Partnership agreement
- Authority to act – Partners’ resolution
- Identity documents, proof of physical residential address and contact details of each trustee and persons authorised to act
Companies
- Certificate of incorporation
- Notice of registered office and postal address
- Authority to act – Directors’ resolution
- Identity documents, proof of physical residential address and contact details of each trustee and persons authorised to act
- Proof of physical business address
What is the minimum amount I can open an investment account with?
You can invest in Stanbic Cash Trust and Stanbic Income Fund Trust with a minimum of GHS20.00.
Can I open an investment account jointly with others?
Yes, you may open a joint account with a maximum of 4 individuals.
Can I have multiple investment accounts for different purposes?
Yes, you can have multiple accounts for different purposes.
How do I make deposits into my investment account?
Deposits can be made via any of the following means:
- Our online portal using a debit/credit card or mobile money wallet. Visit here
- USSD code using your mobile money wallet - Dial *715*55#
- Bank transfers
- Slydepay app
- Cash and cheque deposits at all Stanbic Bank, Zenith Bank, and Universal Merchant Bank (UMB) branches
How can I withdraw and how long does it take?
You can withdraw all or part of your investment at any time by dialling *715*77#, via our online portal or visit any Stanbic Bank branches nationwide. Payments are made within 24 hours for requests made via our online portal and three (3) business days for requests received via forms or email.
What are the benefits of investing in a Stanbic Cash Trust and Stanbic Income Fund Trust?
It allows you to invest in a single fund while enjoying the benefits of a diversified portfolio with a range of securities. It also gives you access to the services of investment professionals at a relatively low cost. Very convenient and provides relatively more flexibility and liquidity.
Is investing in a Stanbic Cash Trust and Stanbic Income Fund Trust risky?
There is some level of risk inherent in every financial instrument. Risk levels vary by asset class, industry, and other factors. However, investing in multiple securities thus limits the overall risk by reducing your exposure to the volatility of any single security.
How do I calculate the value of my investment?
At any given time, the value of your investment is equivalent to the number of units you hold multiplied by the current price per unit. These are always stated on your investment statement and can be viewed on our online portal.
What are the interest rates on the Stanbic Cash Trust and Stanbic Income Fund Trust?
SIMS does not guarantee interest rates. The returns on the funds we manage depend on the securities the funds hold at a given time, the interest rate trends on the market, and the economy at large.
How much does SIMS charge on my investment?
Kindly visit our solutions for Individuals or Corporates for more details on each of our products, including the fees.