Moniepoint Microfinance Bank has unveiled an enhanced range of savings products under a new campaign, “One Step Ahead,” aimed at helping individuals and businesses build financial resilience amid rising economic uncertainties.
The bank said the campaign, featuring Nollywood actress and filmmaker Funke Akindele, popularly known as Jenifa, was informed by findings from a recent customer survey showing that unexpected expenses account for 72.8 per cent of disruptions to savings plans, while irregular income affects 51 per cent of savers in Nigeria.
According to Moniepoint, the findings underscore the need for savings products that combine financial discipline with flexibility, allowing customers to pursue long-term financial goals while responding to unforeseen expenses.
Speaking on the initiative, Managing Director of Moniepoint Microfinance Bank, Babatunde Olofin, said the new savings solutions were developed to address the challenges customers face in managing their finances.
“These innovative savings solutions were developed specifically to ease customer pain points. Our ecosystem gives everyone the flexibility to grow their money and access it whenever they need it, combined with some of the best rates in the market,” Olofin said.
He said the initiative was also designed to promote financial wellbeing and help customers prepare for both expected and unexpected financial needs.
“Our mission is to create financial happiness for everyone. A savings product like this is a critical tool for ensuring people can confidently make their dreams come true while saving for both rainy and sunny days,” he added.
Moniepoint said the new product range comprises four savings options designed to cater to different lifestyles and cash-flow patterns.
The Target Savings product allows customers to withdraw up to 50 per cent of their savings once without losing accrued interest, while offering returns of up to 11.5 per cent per annum.
Flexible Savings permits customers to make up to four withdrawals monthly without losing interest and offers returns of up to 9.5 per cent per annum.
The Fixed Deposit option offers interest upfront, with rates of up to 17.5 per cent per annum, while Save As You Transact enables customers to save as they spend and withdraw their funds without restrictions.
The bank said customers, excluding premium tiers, can commence their savings journey with as little as N1,000.
Moniepoint, which serves more than 20 million business banking and personal customers, said the new products were designed to provide customers with a combination of savings flexibility, liquidity and competitive returns through its digital banking ecosystem.
Non-Moniepoint customers can access the products by downloading the bank’s business or personal banking mobile application, completing the account-opening process and meeting the required Know Your Customer (KYC) requirements.
The “One Step Ahead” campaign features Akindele within the universe of her popular television series, Jenifa’s Diary, using the show’s familiar hair salon setting to communicate the importance of financial preparedness and flexible savings.
Moniepoint said Akindele’s cultural influence and extensive career in Nollywood made her a suitable creative partner for the campaign.
The actress has received multiple industry awards and has established herself as one of Nigeria’s leading filmmakers and box-office personalities, with her recent productions further strengthening her influence in the Nigerian entertainment industry.
Comment here