Save Smarter With
Sterling Recurring Deposit Account (SRDA)

Turn your financial dreams into reality with a target savings account that offers competitive interest rates and cash rewards.

Get Started
See FAQS

Earn up to N1,000,000 in Cash Rewards!

 Active SRDA customers stand a chance to win cash prizes in our bi-annual draws! To qualify:

Increase your SRDA balance by at least ₦250,000 within 6 months

Save consistently for at least 3 months before the draw

Ensure your account remains active and funded

Terms & Conditions Apply

Choose your SRDA

SRDA Naira

Designed for individuals that want to save towards a specific financial target in Naira

  • Tenor: 6 months – 5 years
  • Minimum monthly deposit: N5,000
  • Competitive monthly interest rates: 8.25% p.a.
  • Free partial withdrawal once a month (50% forfeiture of interest applies for more than one withdrawal within the same month)
  • Qualify to win up to N1,000,000 in our bi-annual draws (T&Cs apply)
  • Completed account opening form 
  • Once your account is successfully created, complete the online SRDA form here
  • Existing Tier 3 savings or current account.
  • Proceed to open your SRDA , kindly complete the form here.

SRDA FCY

Designed for individuals that want to save towards a specific financial target in Foreign Currency (Dollar, Euro, Pounds)

  • Tenor: 1 – 5 years
  • Minimum monthly deposit: $200, €200, or £200
  • Competitive monthly interest rates:  2% p.a.
  • Free partial withdrawal once a month (50% forfeiture of interest applies for more than one withdrawal)
  • Completed account opening form.
  • Bank Verification Number (BVN) and National Identification Number (NIN)
  • One recent passport photograph
  • Valid Means of Identification
  • Recent Documentary Evidence of Address in Nigeria
Start Now

Get Started

Account Information

Personal Information

SRDA Funding Details

Terms and Conditions

By opening a Sterling Recurring Deposit Account (SRDA) with Sterling Bank Ltd, you agree to the following:

  1. Account Information & Agreement
    • You confirm all provided information is accurate.
    • You agree to follow all terms and conditions governing your primary account and this SRDA, and any amendments

  2. SRDA Account Features & Responsibilities
    • Partial withdrawals may have minimum balance requirements.
    • Early withdrawals may affect interest earned and incur penalties.
    • Interest rates may vary.
    • You are responsible for funding standing orders

Declaration


I hereby request for the opening of an additional account(s) with Sterling Bank Ltd. I/We understand that the information given herein and the document supplied are the basis for opening such account(s) and therefore warrant that such information is correct.

I have read the terms and conditions governing the operations of the account(s) which are presented and agreed to be bound by them.

FAQ

Frequently Asked Questions

What is the Sterling Recurring Deposit Account (SRDA)?

SRDA is a target savings account designed to help you save consistently, earn competitive interest, and qualify for cash rewards. Whether you’re saving for a specific goal or just looking to grow your funds, SRDA offers a flexible and rewarding way to build your savings.

I don't have a Sterling Bank account, can I open SRDA?

Yes, you can.

  • Visit any Sterling Bank branch near you to open your SRDA account or open your Sterling Bank account here.  
  • Upon getting your account number, click here to open your SRDA account. 
I have submitted the SRDA request, when do I get my SRDA account number?

Your SRDA account number will be sent to you via email or SMS within 24 working hours.

What is the interest rate on SRDA?
  • Naira SRDA – 8.25% p.a. on your deposits.
  • Foreign Currency (FCY) SRDA – 2% p.a. when you save in USD, GBP, or EUR.
How does the SRDA cash reward work?

Every six months, active SRDA customers have a chance to win up to ₦1,000,000 in our bi-annual raffle draw. The more you save, the higher your chances of winning!

How do I qualify for the SRDA raffle draw?

To enter the draw:

  • Save at least ₦250,000 within 6 months
  • Make monthly savings for a minimum of 3 months within 6 months
  • Ensure your SRDA account remains active and funded
Can I automate my savings?

Yes! You can set up a standing instruction on the OneBank App to ensure your savings grow effortlessly. Simply:

  • Log in to OneBank App
  • Go to “Send Money” → “Schedule”
  • Choose your SRDA account and set your deposit frequency
  • Confirm the transaction, and you’re done!
What is the minimum deposit amount?
  • Naira SRDA: ₦5,000 per month.
  • FCY SRDA: $200 / €200 / £200 per month.
How do I withdraw from my SRDA?

Visit any Sterling Bank branch closest to you to make a withdrawal or transfer from your SRDA to your primary account.

Can I have multiple SRDA accounts?

Yes! You can open multiple SRDA accounts to save for different financial goals.

How do I check my savings progress?

You can monitor your savings and track your progress anytime on the OneBank App.

Personal Banking

Business Banking

Alternative Banking

Compliance & Legal

About Us

Help & Support

Copyright © 2025, Sterling Bank Ltd.

Licensed & regulated by the Central Bank Nigeria 
Download Now
I have installed the app
whatsapp