High Yield Interest Deposit Account

The High Yield Deposit Account  is a unique tenured product targeted at the Commercial Entities, high-end SMEs as well as upper Retail Segments. It was introduced to offer a customer-friendly, deposit product that meets the needs of Commercial Entities, high-end SMEs as well as upper Retail Segments. The  High Yield Deposit Account  Product is a 

• high-interest bearing term deposit account that would run for 60 days and above (90/180 day options)
• for amounts between N500,000 and N1million, tenor would be 90 days
• N1million and above for 60/90/180 days
• Balances to enjoy 4.5% interest element, net of with-holding tax 
• A penalty would apply for early liquidation; in such cases, the Investment would earn only 3%

Target Market

• Corporate bodies and Commercial Entities 
• Associations, Societies & Clubs
• Non-profit organizations 
• Medium to high-income individuals 

Product Benefits

• High interest payment, net of withholding tax 
• Flexibility