Investment Accounts

SRDA

Sterling Recurring Deposit Account (SRDA) is an investment account designed for individuals that wants to save towards a specific financial target

Features

• Tenor ranges from 6 months – 5 years
• Interest rate of 8.25% p.a.
• Minimum monthly deposit of N5,000
• Premature termination before the end of tenor attracts 50% charge of accrued interest
• Automatic reversal of interest rate to the least rate on the product or regular savings account interest rate (whichever is lower) when the contract expires or if there is a default in any monthly contribution.
• No limit to the monthly deposits but not less than the minimum deposit of N5,000
• Customers can access a credit card limit or personal loan of 80% of their investment value using the investment as cash collateral

Documentation

• Valid means of Identification.
• Completed Account Opening Forms
• One recent passport sized
photograph
• Documentary evidence of address
in Nigeria.
• CERPAC- Combined Expatriate
Residence Permit and Alien Card
(West African nationals excluded).

SRDA-Dollar

A dollar denominated investment account designed for individuals that wants to save towards a specific financial target

Features

• Tenor ranges from 1– 5 years
• Attractive interest rate of 4% to 5% p.a
• Premature termination before the end of tenor attracts 50% charge of accrued interest
• Minimum monthly deposit of $200
• Automatic reversal of interest rate to 1% when the contract expires or if there is a default in any monthly
contribution
• No limit to the monthly deposits but not less than the minimum deposit of N5,000 for NGN and $200 for USD
• Customers can access a credit card limit or personal loan of 80% of their investment value using the investment as cash collateral.

Documentation

• Completed Account Opening Forms
• Valid means of identification.
• One recent passport sized photograph
• Letter of introduction from employer.
• Documentary Evidence of address in Nigeria
• CERPAC- Combined Expatriate Residence Permit and Alien Card (West African nationals excluded).

Fixed Deposit

An investment account designed for individuals and businesses that wants to enjoy a financial instrument that pays a fixed rate of interest for a given period

Features

• Minimum tenor of 30 days
• Negotiable and competitive rates
• Interest is paid at full maturity
• Investment is renewable on maturity

Documentation

• Completed Account Opening Forms
• Valid means of Identification.
• One recent passport sized photograph.
• Documentary Evidence of Address in Nigeria
• CERPAC- Combined Expatriate Residence Permit and Alien Card (West African nationals excluded).

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