Benefits
TD Account features
This is a savings product available to individuals, unions, clubs, and registered business organizations. It allows clients to save funds that they do not immediately have need for and generate interest on it.
Features
- Minimum operating balance is N50,000
- Highly competitive interest rate
- Easy access to your account
- Available to Individuals, Groups and Associations
- You are able to secure and grow funds that are not for immediate use
- Expert financial advice available
Documents Required
- 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)
RATES
TD Account interest rate
Earn High-yield interest on your investment account. That’s cash you earn simply for placing your money in an interest-bearing savings account.
| Daily Collected Balance | APY+ | Interest Rate |
|---|---|---|
|
All balances |
1.25% |
0.10% |
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
| Question | Answer |
|---|---|
|
Is the interest rate negotiable? |
Yes |
|
Where can I open and operate Term Deposit Savings Account? |
You can open and operate Term Deposit Savings Account in any LAPO MfB branches nationwide. |
|
Who can operate Term Deposit Savings Account? |
Every individual, group or association can open and operate the account. |
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Details you need to make a smart decision
NGN 200 minimum opening deposit required for 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.