Accounts and Banking
Creating an account
Types of accounts
Savings account
This represents the capital which will yield interest payable at the end of the year.
Loans can be obtained on this account, with amount depending on the amount of money in the saving account.
Withdrawal from savings accounts without prior notification used to be charged, but is now free of charge.
Deposit Account
This account yields no interest for the saver.
A member can use this account to deposited and withdraw at will without incurring any fee.
Term Account
Money can be saved in this account for withdrawal after a predetermined amount of time, for example, six (6) months.
Withdrawal before the predetermined duration may not be allowed.
This type of account, like savings yields interest.
Children's Account
This account yields no interest for the saverThis is an account that a person opens to save money for the welfare of their child (children).
It has the same characteristics as the savings account.
Group Account
Meetings, groups, NGOs and CIGs can use such an account.
The group account is identical in characteristics to the saving account.