Term Deposit Savings Account

This is a savings product available to individuals, unions, clubs and registered business organizations. It gives clients the opportunity to save funds that they do not immediately have need for and in addition, generate interest on it.

  • Minimum operating balance is N50,000
  • Highly competitive interest rate
  • Easy access to your account
  • Available to Individuals, Groups and Associations
  • You are able to secure and grow funds that are not for immediate use
  • Expert financial advice available
  • Duly completed application form
  • 2 recent passport-size photographs
  • Current utility bill
  • A valid means of ID (national ID, driver’s license, voter's card or international passport)

1. Q: Is the interest rate negotiable?
    A: Yes.

2. Q: Where can I open and operate Term Deposit Savings Account?
    A: You can open and operate Term Deposit Savings Account in any LAPO MfB branches nationwide.

3. Q: Who can operate Term Deposit Savings Account?
    A: Every individual, group or association can open and operate the account.