SAVINGS

Saving is an important step towards improving your standard of living, sustaining your business and attaining your dreams. Ibolo Microfinance Bank Limited offers clients a safe and secure place for their savings.

Safe and hassle-free savings for a secure future.

Enjoy FREE unlimited deposits and withdrawals.

We save, basically, because we can't predict the future. Saving money can help you become financially secure and provide a safety net in case of an emergency. Here are a few reasons why we save:

  • Emergency cushion - This could be any number of things: a new roof for your house, out-of-pocket medical expenses, or sudden loss of income. You will need money set aside for these emergencies to avoid going into debt to pay for your necessities.
  • Retirement – If you intend to retire someday, you will probably need savings and/or investments to take the place of the income you'll no longer get from your job.
  • Average Life Expectancy – With more advances in medicine and public health, people are now living longer and needing more money to get by.
  • Volatility of Social Security – Social Security was never intended to be the primary source of income and should be treated as a supplement to income.
  • Education - The costs for private and public education are rising every year and it's getting tougher to meet these demands.

Without money put away in savings and/or investments, you open yourself up to other risks as well. For example, not having enough money to pay for emergency dental care may force you into taking a loan that your savings might otherwise have covered.

TYPES OF ACCOUNTS

  • Company Current
  • Personal Current
  • Salary Cccount

  • Personal savings
  • Executive savings
  • Company savings

  • Personal savings
  • Executive savings
  • Company savings

  • 30 days (1 Month)
  • 60 days (2 Months)
  • 90 days (3 Months)
  • 180 days (6 Months)
  • 365 days (1 year)

Daily savings towards a target or project.

REQUIREMENT FOR OPENING OF ACCOUNT

CURRENT ACCOUNT
CURRENT ACCOUNT (Company)

Certificate of registration

Memorandum and Article 

2 passport photograph of each signatory

Photocopy of utility bill

BVN (any of the signatory)

Means of identification (National ID, Voters card, Valid International Passport or Drivers license)

CURRENT ACCOUNT (Personal)

2 passport photograph

Photocopy of utility bill

BVN 

Means of identification (National ID, Voters card, Valid International Passport or Driver’s license)

SALARY ACCOUNT

2 passport photograph

Photocopy of utility bill

BVN 

Means of identification (National ID, Voters card, Valid International Passport or Driver’s license)

SAVINGS ACCOUNT
PERSONAL SAVINGS

3 passport photograph

Photocopy of utility bill

BVN 

Means of identification (National ID, Voters card, Valid International Passport or Driver’s license)

Opening fund

EXECUTIVE SAVINGS

2 passport photographs

Photocopy of utility bill

BVN 

Means of identification (National ID, Voters card, Valid International Passport or Driver’s license)

Opening fund

COMPANY SAVINGS

Certificate of registration

Memorandum and Article 

3 passport photograph of each signatory

Photocopy of utility bill

BVN (any of the signatory)

Means of identification (National ID, Voters card, Valid International Passport or Driver’s license)

Opening fund

FIXED DEPOSIT

2 passport photograph

Photocopy of utility bill

BVN 

Means of identification (National ID, Voters card, Valid International Passport or Driver’s license)

Opening fund

TARGET DAILY (ESUSU)

2 passport photograph

Photocopy of utility bill

BVN 

Means of identification (National ID, Voters card, Valid International Passport or Driver’s license)

Opening fund