Target Savings Account

Ordinary Target Savings Account

  • Initial Opening Amount= N5,000
  • Interest Rate = 1% P.A. above ordinary savings rate.
  • Minimum of 3 months before first withdrawal
  • Maximum of one withdrawal in a month after the first 3 months
  • Minimum Account Balance= N5,000
  • Customer to enter undertaking with Bank on regular weekly deposit amount and tenor of Deposit Target (the funds will be blocked for proper control)
  • Attainment of N100,000 Daily Average Balance for 10 consecutive months qualifies for Handsome Rewards at Year-End.

Amfb Classic Target Savings account

  • Initial Opening Amount= N10,000
  • Interest Rate=1.5% P.A. above ordinary savings rate
  • Customer to enter undertaking with Bank on regular weekly deposit amount and tenor of Deposit Target (the funds will be blocked for proper control)
  • Minimum period of 6 months before withdrawal
  • Maximum of one withdrawal in a month after last 6 months
  • Minimum Account Balance= N10,000
  • Attainment of N100,000 Daily Average Balance for 10 consecutive months¬† qualifies for Handsome Rewards at Year-End

Amfb Children Savings account

  • Initial Opening Amount= N5,000
  • Interest Rate= 5% p.a.
  • For New Babies:
    Withdrawal allowed only during 1st Birth Day
    Fabulous gifts during 1st Birth Day
  • For Children in School:
    Withdrawal allowed at beginning of Term
    Nil-charge on drafts for school fees
  • Attainment of N50,000 Daily Average Balance for 10 consecutive months qualifies for 10% subsidy on cost of books after confirmation of list of books from school. Or, 10% part-payment for school fees.
  • Minimum Account Balance= N1,000