The NGN Savings product is facilitated by the Bamboo platform but powered by fund managers licensed by the Securities and Exchange Commission, Nigeria. It is designed to provide accessible savings opportunities, helping users across different income brackets cultivate a strong saving culture.
With the NGN Savings product, you can earn up to 18% per annum. You have the flexibility to top up your active savings or create as many savings plans as you need, ensuring a solution tailored to your financial goals.
Here are some of the features below:
You have the flexibility to save a minimum of N1,000 for a duration of your choice.
Interests can go as high as 18% per annum with a 1-year tenor.
You have access to name and describe the purpose of your savings while having different timeframes for each lock.
Interests are paid upfront once locked.
Pre-liquidation may attract a loss of up to 50% of your interest accrued. That is, the deducted interest will be subtracted from the principal amount during the liquidation process.
You can top-up your active savings at any time and the interest on subsequent contributions is calculated proportionately based on the number of days left to maturity.
You can also create multiple savings plans, each with different tenors based on your specific financial goals.
Upon maturity, you can roll over your savings plan automatically.
Partial liquidation is not allowed.
Please note that the NGN Savings product is only available on our Nigerian app at this time.
With an active NGN savings plan, you have the option to participate in the Bamboo Millionaire Challenge. You can read more about this here.