Benefits
MY Pikin Savings account
Saving money for your child's future is as important as raising them well. My Pikin is a savings account designed to provide clients with the opportunity to save towards the welfare of their children/dependents. With an opening balance of as little as N200, the savings account allows you to secure a child's future until he/she attains adulthood.
Features
- Account opening with N200 (minimum)
- 1.25% Per Annum interest rate on savings
- A chance for your child to win the LAPO MfB Scholarship
- Convenient and easy withdrawal anytime, anywhere nationwide
- Payments can be made anywhere nationwide with our Pocket Money banking service.
- Very low entry balance.
- Easy access to your account.
- Secured future for your child.
- Available to Groups and Individuals.
- Expert financial advice .
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
My Pikin Savings interest rate
Earn interest on your entire account balance with a My-Pikin Savings 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 |
|---|---|
|
Do I need a guarantor to open My Pikin Savings Account? |
No |
|
Where do I open My Pikin Savings Account? |
You can open My Pikin Savings Account at any LAPO MfB branch nationwide. Our Client Support Officers (CSO) will be glad to open one for you. |
|
Who operates My Pikin Savings Account? |
The parent/guardian opens and operates My Pikin Savings 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.