Savings
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.
Lock Box
Build the future you’ve always envisioned.
Secure your tomorrow by taking the first step toward financial independence today.