Savings Account

We offer you a variety of savings accounts that suit every stage of your life, with unique benefits designed to match your personal banking needs as you grow. Achieve your saving goals using any of our range of savings accounts today.
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New Account Application

Education plan is a convenient and secure way to save for a child or adult education in Nigeria and overseas. The product aims to assist parents and guardians build up a lump sum by investing periodically (daily/weekly/monthly) into an investment fund.

FEATURES & BENEFITS
  • Projected benchmark return at prevailing monetary policy rate.
  • Account can be operated or opened for an unborn child.
  • Total amount contributed is guaranteed.
  • Investors or contributors are free to designate a different beneficiary at any time.
  • Parents or guardians control assets until child reaches legal age.
  • Funds are not frozen upon unlikely event of demise of the investor if they take up a life insurance cover.
  • No deposit limit.
  • No specific amount is stipulated.

Individual Savings Account

The Lavender MFB Individual Savings Account is recommended if you have a specific savings goal in mind or you just want to start setting money aside. This account offers interest on your funds regardless of the goal.

FEATURES & BENEFITS
  • Zero account opening balance
  • Earn interest at 4.2%
  • MasterCard/Visa/Verve debit card
  • Internet banking
  • Lavender Mazza cash mobile banking app
  • Email and/or SMS alertz
REQUIREMENTS
  • Account opening form duly completed
  • One recent clear passport photograph of signatory
  • Identification of signatories (Driver’s License, International Passport, National Identity Card or Voter’s Card)
  • Residence permit (where applicable)
  • Public Utility Receipt dated within the last three months (PHCN bill, water rate bill, tenement rate, rent receipt, telephone bill)
AVAILABLE CHANNELS
  • *955# USSD Banking
  • Lavender Internet Banking
  • In-branch at any Lavender Bank branch
  • Our 24/7 telephone banking
  • Lavender MFB ATM nation-wide – free cash withdrawal
  • Lavender Mobile Banking App – 24/7 on your smart phone
  • Access your account using your Lavender MFB debit card at participating merchant stores for payment of goods and services in Nigeria and anywhere in the world

The Aspire Account by Lavender is a unique savings account for the Nigerian undergraduate with a distinctive sense of identity. Designed to enhance the lifestyle of the discerning student, the account provides a platform for its holders to follow their dreams, supporting them as they aspire to greatness.

FEATURES & BENEFITS
  • Interest Bearing
    Your money never sleeps in an Aspire account, you earn interest  and growing steadily even while you sleep.
  • Unique MasterCard card design
    Student can choose any of the Lavender card designs. One of them is sure to mirror your lifestyle and reflect your identity.
  • Cashless banking
    Counting cash is so 1990. Embrace the future with cashless banking via ATM, Mobile, POS and Web.
  • Deep discounts
    Enjoy exclusive discounts and periodic promotions from our partner merchants to help you get more out of life.
  • Transaction notifications
    Be the first to know when transactions occur on your account via email and SMS transaction alerts.
REQUIREMENTS
  • Account opening form duly completed
  • One recent clear passport photograph of signatory
  • A valid School Identity Card or School Admission Letter
AVAILABLE CHANNELS
  • *955# USSD Banking
  • Lavender Internet Banking
  • In-branch at any Lavender Bank branch
  • Our 24/7 telephone banking
  • Lavender MFB ATM nation-wide – free cash withdrawal
  • Lavender Mobile Banking App – 24/7 on your smart phone
  • Access your account using your Lavender MFB debit card at participating merchant stores for payment of goods and services in Nigeria and anywhere in the world
child future

Children’s Account

The Lavender MFB Children’s Account is a unique savings account designed to allow parents save for their children’s future and teach them about savings from a tender age. The account is modeled in two tiers for young children and teens with an overarching objective of making savings fun for them and teaching them financial discipline.

FEATURES & BENEFITS
  • An account specifically for children
  • Zero account opening balance
  • Increased Interest rate
  • Standing order credit option
  • Cheque, draft and dividend lodgment
REQUIREMENTS
  • Account opening form duly completed
  • One recent clear passport photograph of Guardian/Parent and child
  • Birth Certificate of Child
  • Identification of signatories (Driver’s License, International Passport, National Identity Card or Voter’s Card)
  • Residence permit (where applicable)
  • Public Utility Receipt dated within the last three months (PHCN bill, water rate bill, tenement rate, rent receipt, telephone bill)
AVAILABLE CHANNELS
  • Lavender Internet Banking
  • In-branch at any Lavender Bank branch
  • Our 24/7 telephone banking
  • Lavender MFB ATM nation-wide – free cash withdrawal
  • Lavender Mobile Banking App – 24/7 on your smart phone
  • Access your account using your Lavender MFB debit card at participating merchant stores for payment of goods and services in Nigeria and anywhere in the world

Customer Care & Support