This current account was designed to provide convenience for Micro, Small, Medium and Established Enterprises (MSMEs), in operating their bank account. There is no charge of account maintenance fees, but a monthly discounted service charge based on debit turnover conducted.
Features and Benefits
- Discounted/reduced cost of banking
- Convenience in operating a bank account
- Minimum account opening balance of ₦100,000
- Turnover above N100 million shall be charged account maintenance fees at N1 per mile.
- Monthly service charge is based on turnover for the month
- Business Registration Support
- Access to digital and electronic banking platforms
Frequently Asked Questions
You are exempted from paying account maintenance fees on this product, but a
service charge which is based on your turnover.
Turnover bands are stated below:
- Up to N1 million
- N1,000,001.00 – N4,999,999
- N5,000,000.00 – N20,000,000
- N20,000,001.00 – N100,000,000
Monthly service charges are stated below:
- (Up to N1 million) – Nil
- (N1,000,001.00 – N4,999,999.00) – N1,000
- (N5,000,000.00 – N20,000,000.00)- N2,000
- (N20,000,001.00 – N100,000,000.00)- N4,000
No, the product is not interest paying
The maximum turnover allowed on the product is N100,000,000. The excess above N100,000,000 will be charged an account maintenance fee of N1 per mille.
The minimum opening balance is N10,000
The minimum daily operating balance is zero