iSave Plan

iSave Plan is an enhanced savings plan that assists in building a lump sum amount over 24 months while paying a competitive interest rate which is 4% higher than the minimum savings deposit rate paid by the banks.
Premature termination and withdrawals are permitted, however accured interest will be forfeited.
Features Include:
- You are eligible to take up this plan if you are under the age of 65
- Policy term is 2 years renewable
- Interest rate is SDR+4% (SDR is the CBN stipulated minimum savings deposit rate banks can pay on savings accounts and is usually 10% of Monetary Policy Rate (MPR)
- Policy can be surrendered after a minimum of 13 months with no withdrawal fees (earlier surrender will attract charges)
- Minimum contribution of 5,000
Benefits Include:
- Creates capital for future needs (school fees, home ownership, start own business etc.)
- The sum assured (Life cover ranging from 100,000 - 1,000,000 ) requires a One Time Payment (known as risk premium) of 1% of the sum assured, then the Risk Premium will be N2,000. For sum assured of N500,000, the Risk Premium will be N10,000 etc.
- In the event of death, the account balance and sum assured are paid to the named beneficairy.
- To provide our Customer's with a Short-Term savings plan alongside Life Cover.