This product is designed for small and medium scale savers who appreciate a daily-contributions approach to building up a pool of funds
Features
- Minimum Opening Balance of N1,000
- Flexibility of Deposits
- No Penalties for Irregular Contributions
- Competitive Interest Rates
Target Market
- Small-scale Traders
- Housewives
- Artisans
- Organized Groups
2. Target Savings Account This Savings account affords medium, large, and small-scale savers the opportunity to grow a large pool of funds to meet specific future needs within a flexible tenor, minimum of one year. It is designed for anybody targeting to grow a large pool of funds for specific needs such as:
- Building a Home
- Setting up apprentices and wards after their training period
- Asset acquisition like buying a new car
- Saving for a special occasion
- Wealth building investment options
Features
- Minimum opening balance of N5, 000
- Decide the way you want to save
- Attractive interest rate between 5% - 7% p.a.
- Various payment modes: cash, cheque or direct debit from existing account
- Minimum tenor of one year
- Quarterly statement of account
- Deposits acceptable at any SPRINGBANK PLC branch in cash, cheque or standing order
- 2% flat charge on premature closure of account
Target Market
- Individuals
- Companies
- Associations
3. Enhanced Savings Account This is a hybrid of the savings and current account with value adding features that makes it more flexible than the traditional savings account
Features
- Minimum Opening Balance of N1,000
- Interest rate is 1% - 2% p.a. higher than normal savings rate
- Cheques can be run through the savings account
- Flexible withdrawals from any SPRINGBANK PLC branch nationwide
- Allows third party withdrawals
- Bank statements or credit balance information could be provided on request
Target Market
- Individuals
- Limited Liability Companies
- Sole Proprietorships
- Registered Business Names
- Partnerships
- Clubs
- Associations
4. Regular Savings Account This is simply the no-frills and conventional savings account
Features
- Minimum Opening Balance of N5,000
- No cash handling charge
- Attractive Interest Rate of 4% per annum
- Free Personalized Pass book
- Free access to telephone and internet banking services
- Withdrawals from any SPRINGBANK PLC ATM
- Account may be operated from any springmortgage branch
- Standing orders to and from other SPRINGBANK PLC Accounts
Target Market
- Individuals
- Limited Liability Companies
- Sole Proprietorships
- Registered Business Names
- Partnerships
- Clubs
- Associations
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