Savings account features
With a minimum opening deposit of NGN 1, 000 you can start taking important steps to secure your financial future.
- Account minimum operating balance of N1, 000
- Payments can be made anywhere nationwide with our Pocket Money banking service
- Easy access to your account
- Expert financial advice available
- Duly completed application form
- 2 recent passport-size photographs
- Current utility bill
- A valid means of ID (national ID, driver's license, voter's card or international passport)
Savings account interest rate
Earn interest on your entire account balance with a Individual Savings Account. That’s cash you earn simply for placing your money in an interest-bearing savings account.
|Daily Collected Balance||APY+||Interest Rate|
Rates current as of January 1, 2021, and subject to change.
+Annual Percentage Yield. Rate is variable and subject to change. Fees could reduce the earnings on the account. Call or visit a branch for more enquiry.
Frequently Asked Questions
How do I open Individual Savings Account?
To open an Individual Savings Account, you need to fill out the account opening form, bring 2 recent passport-size photographs, utility bill and a valid means of identification to any LAPO MfB branch closest to you.
Do I need a guarantor to open Individual Savings account?
Who can operate an Individual Saving Account?
Anybody can operate the account.
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Details you need to make a smart decision
NGN 1, 000 minimum opening deposit required for Regular savings account. Please refer to each product and service for additional details. Additional terms and miscellaneous fees may apply. Products, features and benefits offered with accounts are subject to change at any time. You may vsit our branch for additional details.