Lock Box

A product designed to enable households, individuals, sole proprietors who may not be able to frequent the bank
as a result of distance and busy schedules to deposit small, variable amounts frequently in a box (provided)
towards the purchase of an asset for the household.

Product Features

  • Account opened in the name of the household

  • Locked boxes deposited at client’s home with the bank and client as custodian.

  • Household makes deposits into the locked-boxes

  • Contents of boxes collected at agreed regular periods

  • Household qualifies for loan after contributing for a continuous three (3) months

  • Household can access loan to the tune of 4 times the amount contributed.

Benefits

  • Safe custody of your money

  • Earn competitive interest on savings

  • Easy access to loans

  • Savings used as collateral for the loan

  • Banking Services to the doorstep of household.