This is an account opened for the purpose of saving towards future events, occasions, projects, etc. (e.g. Hajj/ Umrah/Christian Pilgrimages, Yuletide Seasons – Christmas/Easter/Id-El-Fitri/Id-El-Kabir, wedding/child-naming ceremonies,etc).
Features:
Minimum Opening - N1,000.
Minimum deposit tenor of six (6) months and maximum of two (2) years.
Minimum daily/monthly deposit of N200/N5,000 respectively.
No withdrawal until maturity, as predetermined by the account holder.
Account is not age-restrictive (i.e. can be opened for minors).
Attracts an additional 2% interest rate above that of a regular savings account.
Withdrawals made before maturity attracts a charges.
