Social Impact Deposit (SID)
The Social Impact Deposit (SID) Account is a deposit product designed to empower the vulnerable and the economically active poor in the society. The SID Account is an innovative deposit and investment platform that provides individuals the opportunity to make deposit with LAPO Microfinance Bank that can be used to improve on the social needs of low-income individuals.
The SID Account will be targeted specifically at economically active poor individuals in Nigeria. With a minimum deposit of N200,000 and a minimum tenor of 6 months, savers in return are rewarded with attractive interest that comes with the account. Other than the attractive interest on deposits, depositor is also entitled to nominate a child from a low-income household for LAPO Scholarship award.
To open an SID Account today, kindly contact us on: 0700-LAPOMFB (07005276643), 08176027495, 09053806173, 08113695819.
- Account Opening Minimum of N200,000
- Payments can be made anywhere nationwide
- Expert financial advise available when you need it
1. Opportunity to support LAPO MfB in the empowerment of low income Nigerians.
2. Depositors with 1 million naira and above for a period of two (2) years is entitled to nominate a child for LAPO Scholarship
- 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: How do I open Regular SID Account?
A: To open a SID account, you need to fill out the account opening form, bring 2 recent passport photographs, utility bill and a means of identification along to LAPO branch closest to you.
2. Q: Where can I open SID Account?
A: You can SID Account at any LAPO Microfinance Bank branch nationwide. Our Client Support Officers (CSO) will be glad to open one for you.