Business Savings Account

Designed for small and medium Enterprise (MSMEs) with low business turnover who wish to earn interest on their accounts.

  • Account opening balance of N20,000
  • Daily minimum operating balance of N5,000
  • No maximum debit turnover
  • 2% interest p.a (interest would be forfeited when withdrawal is more than 4 times in a month)
  • Customised cheque book
  • Third party withdrawals across the counter

Account opening requirements

  • Unregistered Clubs, Societies and Associations (No Legal search required)
  • Bye-Law and Constitution
  • Minutes of Meeting
  • 2 Passport photographs of each signatory
  • KYC documentation (National ID, NIMC Slip, Driver’s License, International Passport)
  • BVN is required for all signatories to the account
  • Utility bill
  • Registered organizations (Enterprise and Ltd- Legal search required)
  • Memorandum and Articles of Association (MEMART)
  • Statement of Share Capital and Return of Allotment of Shares (CO2)
  • Particulars of Directors (CO7)
  • Certificate of Incorporation
  • Application form for registration of business name (enterprise only)
  • Certificate of registration (enterprise only)
  • National ID, NIMC Slip, Driver’s License, International Passport and BVN of all signatories and any shareholder that has 5% above (Limited companies only)
  • Tax Identification Number(TIN)
  • Utility bill
  • ** References (optional – For lodgement of cheques above N2million)

Business Current Account

Available to SMEs. Get tiered interest and account maintenance fee concession.

  • Account opening balance of N20,000
  • Credit interest is only applicable if the minimum balance is maintained throughout the month
  • Maximum debit turnover is unlimited

 

Account opening requirements

Unregistered Clubs, Societies and Associations (No Legal search required)

  • Bye-Law and Constitution
  • Minutes of Meeting
  • 2 Passport photographs of each of the signatories
  • KYC documentation such as National ID, NIMC Slip, Driver’s License, International Passport
  • BVN is required for all the signatories to the account
  • Utility bill

Registered Organizations (Enterprise and Ltd- Legal search required)

  • Memorandum and Articles of Association (MEMART)
  • Statement of Share Capital and Return of Allotment of Shares (CO2)
  • Particulars of the Directors (CO7)
  • Certificate of Incorporation
  • Application form for registration of business name (enterprise only)
  • Certificate of registration (enterprise only)
  • National ID or Driver’s License or International Passport and BVN of all the signatories and any shareholder that has 5% above (Limited companies only)
  • Tax Identification Number(TIN)
  • Utility bill
  • 2 valid references
  • CIU Form

Target Savings

Short-medium term savings plan for SMEs.

  • Valid for 48 months
  • Earn 4.2% interest
  • Save a minimum of N5,000 monthly

Benefits

Every quarter from the 15th month:

  • 1 customer will be rewarded with N1m – First Prize
  • 4 customers will be rewarded with N500,000 -Second Prize
  • 20 customers will be rewarded with N100,000 -Third Prize
  • Reward 300 customers for the duration of the programme.

Domiciliary Account

A foreign currency account that gives you the option to bank in any of the three global currencies (US Dollars, Euros and GB Pounds).

  • $100 account opening balance or its equivalent
  • 22USD, 15GBP & 18EUR Swift charge
  • Access to international transfers
  • Attractive interest rates for dollar deposits