Davodani Microfinance Bank Lagos Save and Win

Save and Win

Save and Win is a specialized target savings account that attracts promotional gift items after a raffle draw has been conducted at the end of the product’s maximum tenor of 12 months. The Save and Win account is classified into 3 with maximum tenors of 12, 9, and 6 months for gold, silver, and bronze categories respectively:

  1. Gold – To qualify for raffle draw:
  • Save a minimum of N500,000.00 within 3 months from the date of account opening and maintain the same balance or above for a minimum period of 12 months.

 2. Silver – To qualify for raffle draw:

  • Save a minimum of N200,000.00 within 2 months from the date of account opening and maintain the same balance or above for a minimum period of 9 months.

3. Bronze – To qualify for raffle draw:

  • Save a minimum of N50,000.00 within 1 month from the date of account opening and maintain the same balance or above for a minimum period of 6 months.

Features

  • Minimum account opening amount of N1,000.00
  • Instant gift items for accounts opened with N10,000.00 and above
  • Account attracts robust interest rate of 5% per annum
  • Account balance can be used as collateral for loan
  • Withdrawal before tenor attracts a penalty