PRODUCTS AND SERVICES

Satisfy our customers’ diverse needs, a range of financial products and services have been carefully designed. These include:

A. CURRENT ACCOUNT
Operators of this type of account are issued with cheque books that allow for third party withdrawals. No minimum balances are required and withdrawals are made without restrictions.

Benefits to Customers:
Account holder does not need to come in person.
Account holders enjoy credit facilities.
No minimum balance.
No restriction on number of withdrawals in a month.
Allows other banks’ cheques to be deposited for clearing.


Features:
Minimum opening deposit of =N=1,000.00 for individuals and =N=5,000.00 for Corporate bodies
Two (2) references and two (2) passport photographs required.
Acceptable means of identification
COT charges on withdrawals only

B. SAVINGS ACCOUNT
Allows individual or Corporate bodies to save various sums for future investment or other purposes.

Benefits to Customers:
No COT charges, no references required
Interest is paid on outstanding balances
Savings can be used as collateral for loans/overdraft

Features:
Minimum opening deposit of =N=500.00 only
Customer earns interest
Two (2) passport photographs
No interest payment if more than 3 withdrawals are made in any month.
In the case of all children’s accounts (in this and other sections), both parent and child’s passports are to be affixed

C. TARGET SAVINGS ACCOUNT
Customers desiring to use own funds to meet a set future event or project may take advantage of this account while earning compound interest.

Benefits to Customers:
Interest rate higher than normal Savings Account.
May be used as collateral for loans/overdrafts.
Encourages financial discipline.

Features:
Minimum opening deposit of N2,000.00.
Quarterly interest payments.
Flexible deposit options.
Acceptance of standing order to transfer funds from your other accounts on a regular interval.

Examples of Target Savings Accounts:
Assets Acquisition Savings Account.
Pilgrimage/Tourism Savings Account.
Easter/Christmas/Sallah Savings Account.
Wedding/Birthday Savings Account.
Children/Education Fund Account.

D. MILLIONAIRE DAILY SAVINGS ACCOUNT
This is specially designed for small savers who want to save small amounts on a regular basis over a predetermined period of time to fund major projects or business expansions

Benefits to Customers:
Helps in achieving major goals/projects
Interest rate negotiable
Sums saved can be used as collateral

Features:
Minimum opening deposit of =N=200.00
Fixed Deposit options
Tenure to be determined at commencement

E. FIXED/TERM DEPOSIT ACCOUNT
This is for customers who have large sums of money but do not have immediate need for it and wish to invest in interest yielding liquid asset.

Benefits to Customers:
High but negotiable interest rate depending on amount and tenure
Can be used as collateral for loans/overdrafts

Features:
Tenure may range from 30, 60, 90, 180 or more days
Certificate of deposit is issued for the amount
Minimum deposit of =N=20,000.00
Interest rates are negotiable at inception
Penalty charge for partial or total withdrawal before maturity

F. CHILDREN/EDUCATION FUND ACCOUNT
This account is opened for and in the name of a child for his/her future upkeep or education.

Benefits to Customers:
Interest rate is 1% higher than normal Savings Account.
Child’s upkeep, school fees, medical and other related needs can be paid from this fund.
Parents can use balance as collateral for loans for the child’s upkeep

Features:
Minimum opening deposit of =N=5,000.00.
Flexible deposit options: it can be daily weekly, monthly or quarterly.
The account is to have passports of parent and child.
Can be operated in the name of each child

G. LEASE FINANCING/ADVANCE

H. HIRE PURCHASE/CONSUMER LOANS

I. FACILITIES
Local Purchase Order (LPO) financing.
Overdrafts/Term Loans and Working Capital Loans.
Agricultural Produce Storage financing.
Animal Fattening financing.
Crop/Animal Farming financing.
ACGS/IDP: Agricultural Credit Guaranty Scheme (ACGS) and Interest Drawback Programme (IDP).

Our Customers can access Central Bank of Nigeria (CBN) ACGS/IDP for all Agricultural Production all-year-round.

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