Save to Own Account
Saving towards your dream home is now much easier. The Save-to-Own (Home Ownership) account is designed to give you instant access to your dream home. Save smarter for your future with an account that help you invest in real home ownership.
Features & Benefits:
| Features: | Tier 1 | Tier 2 | Tier 3 | Tier 4 |
| Minimum opening balance | N30,000.00 | N100,000.00 | N250,000.00 | N500,000.00 |
|---|---|---|---|---|
| Minimum monthly deposits | N30,000.00 | N100,000.00 | N250,000.00 | N500,000.00 |
| Minimum balance to qualify for mortgage | N1.6 million (20% of N8million) |
N5 million (20% of N25million) |
N10 million (20% of N50million) |
N20 million (20% of N100 million) |
| Minimum Lock-in/ Non-withdrawal period before access to mortgage | 1 year if equity and other eligibility criteria are met | |||
| Savings interest rate | Conventional savings account interest plus 1% | Conventional savings account interest plus 2% | Conventional savings account interest plus 2.5% | Conventional savings account interest plus 3% |
| Discount on Management Fee | 50% Discount on Mgt fee | |||
| Penalty for default on deposit | Start the savings cycle all over OR Forfeit discounted management fee/additional savings interest rate | |||