- Products and Services -
1. Daily Contribution Loan- Disbursement Day starts from 1st of every month to last day of the month. Maximum of N250,000. Daily repayment with interest of 7.5% minimum.
2. Esusu Loan- Disbursement start from 1st day of the month to the last day. Maximum of N100,000, interest rate of 10%. Registration is N1000. A daily repayment with interest collected by marketer/account officer
3. Group Loan
Disbursement starts from 1st day to last day of the month. Interest rate is 3% flat per month or 5% at a reducing balance.
• Equity contribution of 15% of loan amount.
• Minimum of 3 and maximum of 5 members in a group.
• The amount of loan is minimum of 50,000 with an increase of N25,000 for second level and maximum of N100,000 per member on level 3
• A weekly repayment of loan with saving and interest will be collected by the credit officer/marketer during weekly meetings of the members
• A registration of N2,000:00 to be collected for each member
• An interest rate of 6.0% per month is applicable
4. Bi-monthly Daily contribution loan: This runs for 15days with an interest rate of 3% per 2 weeks. A registration of N1, 000:00 applicable
5. Teachers’ Loan- Teachers are granted loan repayable in 6 to 8 equal monthly repayments with interest at average of 6% per month. The repayments are deducted by Local Primary Schools Board and Secondary Schools Board from source and remitted to the bank on monthly bases. The private schools’ teachers onboarded may enjoy this facility with a letter of domiciliation of salary from the school management.
6. Relief Loan- Loan granted to salary earners and traders. 15% Equity contribution with 6% interest rate on reducing balance. A registration of N2, 000:00 is applicable. Repayment is done on monthly basis.
7. Overdraft- 5% interest rate
8. Asset Acquisition Loan: - This is for a maximum of 6 months with an equity contribution of 25% of cost of Asset. 25% flat interest rate is recommended for 6 months. Additional Interest are added for loans that are not paid within the agreed period.
Kindly visit the bank at
Main Gate, Redeemer's University Ede, Osun State or call
07065267459,
08039678191,
08034715783,
08067811194
- More Products and Services -
• Minimum deposit of N1000 for individuals and N5,000 for corporate institutions.
• Competitive interest rate of % per annum.
• Easy to access.
• Minimum account balance of N0.00
Our Personal Current Account gives you the advantages of competitive interest rates and the availability of your funds, without forfeiture of interest in case of withdrawal. The account may be owned by an individual, an organization or an association. • Simple account opening process • Attractive interest rates • Statement of account (on request) • SMS Alert services • Email Alert services • No maintenance charges • Zero opening balance
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This is a specialized savings with a fixed tenor. Tenor may vary from 30 days to as much as 360 days.
FEATURES
• The tenor involved and the prevailing market rate determines the rate at which any deposit can be fixed.
• Investment period (tenor) is a minimum of 30 days and a maximum of 180 days.
• Minimum opening balance is ₦0,000.
• Amount can be terminated before maturity but a certain percentage of accrued interest will be forfeited.
• Attractive interest rate.
REQUIREMENTS
• Filled Fixed Term Deposit Form
• One passport photograph
• Customer Investment advice.
gives you the advantages of competitive interest rates and the availability of your funds, without forfeiture of interest in case of withdrawal. The account may be owned by an individual, an organization or an association. • Simple account opening process • Attractive interest rates • Statement of account (on request) • SMS Alert services • Email Alert services • No maintenance charges • Zero opening balance
Learn More
Our e-banking platform allows you to bank conveniently from anywhere, anytime. With features like ATM card services and mobile banking, managing your transactions has never been easier!
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1. Daily Contribution Loan- Disbursement Day starts from 1st of every month to last day of the month. Maximum of N250,000. Daily repayment with interest of 7.5% minimum.
2. Esusu Loan- Disbursement start from 1st day of the month to the last day. Maximum of N100,000, interest rate of 10%. Registration is N1000. A daily repayment with interest collected by marketer/account officer
3. Group Loan
Disbursement starts from 1st day to last day of the month. Interest rate is 3% flat per month or 5% at a reducing balance.
• Equity contribution of 15% of loan amount.
• Minimum of 3 and maximum of 5 members in a group.
• The amount of loan is minimum of 50,000 with an increase of N25,000 for second level and maximum of N100,000 per member on level 3
• A weekly repayment of loan with saving and interest will be collected by the credit officer/marketer during weekly meetings of the members
• A registration of N2,000:00 to be collected for each member
• An interest rate of 6.0% per month is applicable