Investment Products

Building Society understands that a business unit should serve a wide range of client’s requirements. As a result we have made a customer-focused solution that adds to customer’s investment.

investment

Omoluabi Certificate of Deposit (OSL COD)

Features

  • Interest rate cap 7%
  • Minimum opening balance of ?1 million
  • Minimum lock-in period of 3 – 6months
  • Free investment advisory services from our team expert
  • Funds can be used as collateral for mortgage application after 6months – (Loan application are still subject to terms and conditions)

Product Target Market

15- or 20-year endowment:

  • Rate Sensitive Investors – Individuals and Corporate
  • No age limit is required.
  • Fund managers
  • Banks and OFI – i.e. Microfinance Banks, Primary Mortgage Banks, Insurance companies.
  • Working Class preparing for retirement
  • Retirees

Requirements

  • Two (2) recent passport photograph (full face forward, no glasses or head cover)
  • Duly completed account opening form (not need if there is existing parent account)
  • Duly signed signature specimen
  • Proof of identity: Copies of Driver’s License, International Passport, Permanent Voter’s Card, National I.D card.
  • Proof of Address: Utility Bill issued in the last 3months (IBDEC, Water etc.)
  • For corporate bodies: Company Registration particulars (Form CO2, Form CO7, Certificate of Incorporation, Memorandum and Article of association, Board Resolution, Search Report(Corporate Account Only)

Omoluabi Housing Investment Fund (HI Fund)

Features and benefits:

  • Guaranteed return of interest on investment (10%)
  • Minimum account opening balance of N5 million
  • Minimum agreed lock-in period of six (6) months
  • Insurance cover
  • Investor will get discount from the real estate product on completion

Requirements

  • Two (2) recent passport photograph (full face forward, no glasses or head cover) Duly completed account opening form (not need if there is existing parent account)
  • Duly signed signature specimen
  • Proof of identity: Copies of Driver‘s License, International Passport, Permanent Voter‘s Card, National I.D card.
  • Proof of Address: Utility Bill issued in the last 3months (IBDEC, Water etc.)
  • For corporate bodies: Company Registration particulars (Form CO2, Form CO7, Certificate of Incorporation, Memorandum and Article of association, Board Resolution, Search Report (Corporate Account Only)

Term Deposit / Fixed Deposit

The account is designed for the general public in order to cultivate their savings culture against emergency future occurrence.

Term Deposit

Account allows for money to be deposited for a period. The money is deposited for a period of days. The money deposited in this account cannot be withdrawn before the expiry of specified period. The rate of interest paid for fixed deposit vary (changes) according to amount and period. Interest rate are dependent on amount deposited. After the period, based on the initial instruction, the investment can either be re-invested or returned to you with the interest amount earned.

Fixed Deposit

If you plan on saving cash for the future on a long term basis, our deposit rates offer the best options for you as an individual and your business. The interest rate is fixed for the full period of your investment unless terminated before period of maturity.

  • Cash deposited can be fixed for a period of 30 to maximum of 180days subject to a role over at expiration of term, if there is no contrary instruction to defreeze the investment booked.
  • The interest rate payable is subject to the amount of fund invested subject to the review and approved by the treasury department.
  • Cash invested can be withdrawn if there is an urgent need for it by the signatory customer.

Call Accounts

Call Accounts

Call account is a premium money market investment account that earns highly competitive interest rates and funds deposited are available on demand (immediate access). There is no defined investment period, so funds can be invested in the money market immediately.

Call Deposit

Observation on call account is that it does not attract high interest rate because it can be requested on demand. The interest earned by the customer can be high because of the amount placed on call and the numbers of days that might eventually occurred.

ILLUSTRATION: For example a 100,000,000 call deposit placed on 5% interest rate for a period of 45days will earn the customer 616,438.35 vat deductions inclusive. As against when the investment is booked for 30days period which will matured on the 30th and there will not be interest earn for the rest 15days if placed on call. Given high interest earned on call of additional 15days gained.+

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DOWNLOADS
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