Banking
Moniepoint Introduces Innovative Savings Solutions
By Modupe Gbadeyanka
To help customers be at least One Step Ahead of the effects of unexpected expenses in their everyday lives, Moniepoint Microfinance Bank has introduced new savings solutions.
The financial institution designed a new brand campaign themed One Step Ahead, starring Nollywood superstar Funke Akindele, popularly known as Jenifa, for better impact.
The company said the savings campaign was inspired by its recent customer survey, which revealed that unexpected expenses account for 72.8 per cent of savings disruptions, with irregular income affecting 51 per cent of savers nationwide.
The new product line offers a great alternative for customers to leverage the bank’s all-in-one solution to transact, save, and earn high interest on a platform backed by reliable service.
Non-Moniepoint customers can easily stay One Step Ahead by downloading the Moniepoint business or personal banking mobile app, completing the simple online setup, and fulfilling the regulatory KYC protocols to open their account.
Moniepoint stated that the new plan features four distinct savings products tailored to different lifestyle and cash-flow needs.
Except for premium tiers, users can jumpstart their savings journey with as little as a N1,000 minimum deposit.
Target Savings allows customers to withdraw up to 50 per cent once without losing their interest, earning up to 11.5 per cent per annum.
Flexible Savings permits up to 4 withdrawals a month without losing interest, earning 9.5 per cent per annum.
Fixed Deposit pays interest up front, with rates of up to 17.5 per cent per annum, while Save As You Transact allows customers to save as they spend and withdraw whenever they like, with no restrictions on access.
“These innovative savings solutions were developed specifically to ease customer pain points. Our ecosystem gives everyone the flexibility to grow their money and access it whenever they need it, combined with some of the best rates in the market — a truly unique offering,” the Managing Director of Moniepoint Microfinance Bank, Mr Babatunde Olofin, said of the savings campaign.
“Our mission is to create financial happiness for everyone. A savings product like this is a critical tool for ensuring people can confidently make their dreams come true while saving for both rainy and sunny days.
“The power and discipline to save help propel individuals and businesses toward their goals, while mitigating the harsh effects of unforeseen circumstances.
“Backed by the reliable digital payments infrastructure we’ve built, our customers can find safety, immediate access to liquidity, and the confidence to stay one step ahead of the future while mitigating the harsh effects of unforeseen circumstances,” he added.
