A normal savings account. It’s features include:-
- The initial opening balance/amount for this account is N1000/N500.
- The customer can make a contribution on a daily, weekly, or monthly basis.
- The withdrawal period will be predetermined by the customers.
- Withdrawals up to three (3) times in a month will not have an interest.
DREAM SAVINGS ACCOUNT
This account is specially designed for meeting future targeted financial needs such as savings for marriage, festivals (Christmas, Ileya) graduations, freedom, etc. It’s features include:
- The initial opening balance/amount for this account is N2000.00/N1000.00
- A minimum regular savings of N3000.00 monthly or N100 per day.
- Can be used as collateral for loans.
MODIFIED DAILY CONTRIBUTION (MDC) ACCOUNT
Modified Daily Contribution Account is designed to encourage savings among the target customers. Loan/Overdraft can only be given on this account after you have contributed up to half of the month, and if is based on the amount you contribute daily. It’s features:-
- To qualify for interest on this account, the minimum tenor without withdrawal is three (3) months.
- Daily contribution from N100 and above.
- 1st payment is taken by the bank as administrative charges.
HYBRID SAVINGS ACCOUNT
This is a saving account specially packaged to allow the customer to pay in cheques and dividend warrants and can be issued a chequebook if requested. It’s features:-
- Opening amount is: Individual = N10,000.00; Corporate = N20,000.00
- This account enjoys zero COT (i.e. No C.O.T charges on this account).
- Withdrawal of up to three times within one month disqualifies earning of interest.
- Issuance of the chequebook is optional (depends on the customer).
This product is a current account targeted at high-income earners with steady cash flow and with personalized financial services. It’s features include Opening balance/amount is: Individual = N20,000.00; Corporate = N20,000.00
This product is specially designed for children. Parents can open and operate this account on behalf of their children/wards until they are of age and signatories will change. Children’s share dividends can be paid into the account. It could be used by parents to save towards the payment of their Children’s/Wards fees or for the funding of their Children’s future education.
It’s features include:
- Minimum opening balance of N2,000.00.
- Monthly savings of at least N2,000.00
- If all conditions above are fulfilled, The account Holder will be entitled to back to school package annually.