Save & Borrow


Target Market

  • Traders
  • Artisan
  • Entrepreneur with daily cash flow

Objectives

  • To assist traders who need capital/finance to meet business needs
  • To establish strong business relationship with customers for at least one year or more
  • To dominate the market and offer the best product and service
  • To increase the database of the bank
  • To increase bank cash flow and enhance liquidity
  • Triple of daily deposit up to 10days or maximum of N50, 000 whichever is low

Workings/ Qualification For The Products

  • Open a save and borrow account with minimum of N500-N1000
  • Daily contribution for 10days on the 11th day a consistent customer is granted loan,
  • Repayment commence on the 12th day
  • Loan range from of N15, 000- N50, 000 depending on the daily contribution.

Charges

  • Interest rate 2% flat on loan amount per month
  • Default Changes
  • 12% p.a

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