This product encourages savers to save for the purpose of meting specific targets like Christmas, purchase of land, pilgrimages expenses, School fees, wedding etc. It has a required initial opening balance of N500 only.
This product attracts an additional 2% above the normal savings rate if the customer keeps to the terms of the agreement.
Features and benefits
- Account opening Balance - N 1000
- Savings for the future events or ceremonies
- Attracts additional interest of 2%
- May be accepted as collateral
- Savings may be regular