Savings

Fidfund Target Savings Account (FIDTSA)

Join the FIDTSA Family, open a FIDTSA account today. Save towards your target such as;

  • School fees payments
  • Wedding Ceremony
  • Rent payment
  • Child Delivery Bills and Contingencies
  • Purchase of Household Properties
  • Household Bills
  • Staff Salary
  • Festivities e.g. Christmas, Salah, etc.
  • Higher interest Rate
  • Withdrawal not earlier than three months
  • Consistent Savings
  • Transaction alert
  • Can act as collateral for loan

Asset Acquisition Savings Account (AASA)

This is a product that enables customers to acquire assets through a lease arrangement. The asset includes: Television, sewing machines, Gas/Electric cooker, Fridge/Freezer, Washing machines etc.

Our purchase, the receipt will be in the name of the customer but will be kept by the bank. Maintenance must be assured and done by the customer. Ownership will remain with the bank until payment of the cost-plus interest is completed. In case of salary earners, salary should be domiciled with the bank.

Traders and self-employed customers could be made to provide additional collateral or personal guarantee.

  • 30% customer contribution
  • Qualification period to access: Not less than three months patronage
  • Repayment period: within three to six months
  • Insurance: Asset will be insured, customer bearing the cost

NOTE: Cash release: payment for the asset will be made directly to the suppler.

Fidfund Business Expansion Savings Target (FIDBEST)

This is an account that is opened/run by those customers whose target is to expand their business operations.

  • Continuous savings (daily or weekly)
  • A minimum withdrawal period of three months
  • Interest is paid to customer on the deposit
  • Loan of 150% on the account balance can be accessed by the customer
  • Business expansion advisory services shall be received on request
  • Book keeping structure and training for customer on request
  • The account balance will serve as collateral

Childcare Savings Account (C.S.A)

This is an account run by parents for upkeep of their child/children.

From the time of naming ceremony of the child, an account can be opened with the proceeds of the naming ceremony. All monies accruing to the child are paid into this account. It is like a trust account operated by the parents on behalf of their child/children.

  • Interest accrues on the account
  • Minimum opening deposit of ₦1000
  • The child takes over the account on attaining of 18 years.
  • It can act as a collateral for personal or business loan

Apprentice Settlement Account

This account is available to those customers who have apprentices that are to be financially settled on completion of their apprenticeship. It is a target account that relieves burden of settlement on the master.

  • Interest accrues on the account
  • It may serve as collateral for personal/business loan
  • Disbursement of the fund at maturity is at the Master’s standing order.
  • Complete all relevant sections of the account opening form
  • Two (2) duly completed specimen signature cards mandate clearly stated.
  • Official unexpired identification document for each signatory e.g. international passport, driver’s license identity card etc.
  • Two (2) passport photographs’ each of the authorized signatories
  • Copy of utility bill used within the last three months
  • For non-nationals a copy of current resident permit
  • By-law/constitution of the association
  • Resolution of the association on opening account with the bank
  • Complete all relevant sections of the account opening form
  • Two (2) duly completed specimen signature cards-mandate clearly stated.
  • Official unexpired identification document for each signatory e.g. international passport, driver’s license identity card etc.
  • Two (2) passport photographs’ each of the authorized signatories