MUTUAL TRUST TARGET SAVINGS ACCOUNT (MTSA)

  • Savings towards Pilgrimage, end of year festivities, school fees etc
  • N2,000 opening balance
  • Mandatory standing order minimum of N5,000 monthly, and larger amounts quarterly, or semi annually
  • Interest rate of 3% per annum
  • Monthly maintenance fee of N100
  • Interest accrues on the account daily but the interest is only capitalized after every six months
  • Minimum savings period of six months (partial/full withdrawal prior to six months attracts interest forfeiture, and no withdrawals before the first 90 days)

Requirements

  • Duly filled account opening form
  • 2 passport
  • Utility bill
  • A valid means of ID
  • Duly filled KYC form