Our Savings Account Products

MMFB DREAM SAVINGS ACCOUNT

This product is especially designed towards meeting the targeted financial needs of those intending to go into marriage ceremony, celebrate Christmas and new year, Easter festival, graduation freedom from a given trade etc.

Features

1. Initial deposit of =N= 1,000.00

2. A minimum regular savings of =N= 100.00 per day or =N= 3,000.00 per month

3. Could be used as a collateral for credit facility

MMFB TRUST ACCOUNT

This product is meant for parents and guardians to save towards the future of their children and wards. It might enable them pay their school fees as at when due or meet other emergencies connected therein.

Features

1. Minimum opening balance of =N= 1,000.00

2. Tenor of between 2-5 years

3. Interest at normal savings rate

4. Insurance cover of up to 10% of the balance on the account in the event of accident or permanent disability of parent or guardian

5. Automatic employment for the child or ward if graduated with 1st class and with an opportunity to go through our recruitment processes provided the child studied accountancy or financial management

MMFB PRIVILEGED SAVINGS ACCOUNT

This product gives the beneficiary the privilege to eat his/her cake and still have it. The product allows the customer to pay in cheques, dividend warrants and other financial instruments to his/her savings account without any hassle.

Features

1. Opening balance - individual =N= 2,000.00 OR enterprises =N= 5,000.00

2. Enjoy zero COT

3. Benefits accruable to current account holders

4. Benefits of issuing withdrawal instruments to third parties

MMFB MODIFIED DAILY SAVINGS

Under this scheme, the customer saves an agreed sum of money for thirty days and get one additional. To qualify for this benefit, minimum tenor without withdrawal of six months. No interest as added in the month of withdrawal.

Features

1. Initial deposit of =N= 1,000.00

2. Daily savings of =N= 100.00 or more

3. Get one day deposit at end of the month after six months of savings

4. No interest whenever withdrawal take place

5. An agreed daily savings can be increased at your will

MMFB WINDOW SAVINGS ACCOUNT

This product provides unique window of opportunities for customers to place their fund on fixed term for stable income streams and stable future.

Features

1. Minimum deposit =N= 20,000.00

2. Tenor from 30 days to 365 days

3. Interest rate negotiable but not below 5% PA

MMFB ASSOCIATED SAVINGS ACCOUNT

Under this product, individuals, groups, associations, unions are given opportunity to enjoy extra benefits over and above what an ordinary savings account holders enjoy.

Features

1. Minimum opening of =N= 2,000.00

2. Minimum account balance =N= 2,000.00

3. Interest rate of 5% if no withdrawal is done in the next six months

4. Withdrawal above 3 times attract a flat service charge of 1%

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Corporate Information

The bank was incorporated on the 23rd September 1993 as a private limited liability company (Mgbidi Community Bank Ltd) and transformed to Mgbidi Microfinance Bank Ltd on 14th July 2007 by the Central Bank of Nigeria.

Contact Us

Address: THE BANK HOUSE, No 142, Owerri-Onitsha Road, Mgbidi, Imo State, Nigeria.
Telephone: 08037031398,
Others: 08037034591
E-mail: info@mgbidimfb.com