AER/Gross (variable) for 12 months from account opening
| Tier | If interest is paid annually | If interest is paid monthly |
|---|---|---|
| ₦1+ | 1.50% | 1.49% |
Interest is calculated daily and added to this account annually or monthly. Once the frequency has been chosen (annual or monthly interest), this can’t be changed.
Yes, the rate can go up or down e.g. in response to industry and market conditions. If the rate goes down, we’ll let you know around 2 months before the rate changes.
What would the estimated balance be after 12 months based on a ₦1,000 deposit?
========================================================================================================================================================
| Account name | Interest earned | Balance after 12 months |
|---|---|---|
| eSaver | ₦15.00 | ₦1,015.00 |
Estimates assume that the account is opened and deposit made on 1st of the month, interest is paid annually and no change to interest rates.
These illustrations are only examples and don’t take into account individual circumstances.
At the end of term
The term of the account is 12 months. On maturity, we’ll transfer your account to an Everyday Saver. We’ll contact you with more details, together with your new interest rate, closer to your maturity date.
To open the account you must be:
Opening
Deposits
You can open the account with a minimum of ₦1,000. The maximum balance at any time is ₦2 million. Deposits can be made at any time via standing order, one-off payments or online transfers.
Manage the account
Statements are issued annually in April in Online Banking only. We provide you with information about transactions on your account by posting them to Online Banking for you to view at any time.
Yes, withdrawals can be made at any time by transfer to another account in Online and Mobile Banking.
You can cancel the account within 14 days of opening and your money will be returned in full with interest.
The eSaver is subject to availability and may be withdrawn from sale at any time without notice. Rates and information correct as at 5 June 2023.
