BANK ACCOUNT SERVICES

BANK ACCOUNTS

At Ilora Micro finance Bnak, We offer a wide range of bank accounts for your personal banking needs.

Our bank accounts include transaction accounts for everyday banking and savings accounts to help you save faster. Compare our bank accounts today to find the right one for you.

Find the below accounts that are available in our bank :

CURRENT ACCOUNT

This is a Business/Individual account product that comes features like cash deposits and withdrawals, Clearing cheques, and much more.

  • Easy Account Opening Process.
  • Better Interest Rate.
  • Easy to Operate Account.
  • Funds Transfer to all commercial banks in Nigeria.
  1. The prospective client shall collect opening form for completion and return
  2. Provide satisfactory references operating personal current account with the bank or in any commercial bank. One (2) recent colored photograph passport size
  3. Satisfactory means of identification (either current driver’s license, National identity card, International passport or voters’ card)
  4. Utility bill
  5. Mandatory initial deposit
  6. Submission of bank verification number (bvn) of each signatory where more than one
  7. Prospective client/customer without bvn will be registered immediately.

SAVINGS ACCOUNT

This account gives you the advantages of competitive interest rates and the availability of your funds, without forfeiture of interest in case of not more than withdrawal.

  • Easy Account Opening Process.
  • Attractive Interest Rate.
  • Easy to Operate Account.
  • Funds Transfer to all commercial banks in Nigeria.

FIXED DEPOSIT ACCOUNT

Fixed Deposit Account allows you to fix your money for a chosen period of time and gain attractive interest rates. This is done by opening either a savings or current account.

 

  • Affordable minimum deposit of N100,000
  • Competitive interest rates
  • Flexible tenure, between 30 – 360 days
  • Stable interest rates throughout the duration of the term

PARTNERSHIP ACCOUNT

This form of account involves two or more individuals engaging in enterprise as co-owners, the organization is known as a partnership. This form of organization is popular among personal service enterprises, as well as in the legal and public accounting professions.

  1. Copy of certificate of registration
  2. Copy of partnership deed
  3. Power of attorney if applicable
  4. Authority to debit account for search charges
  5. Extract of the minutes of meeting or the resolution authorizing the opening of account and appointment of signatories to the account.

LIMITED LIABILITY COMPANY ACCOUNT

A Limited liability bank account is a separate bank account for your limited liability company. It is important to have a separate account for your business so that you can prove that you and your business are separate financial entities in the event of a lawsuit or large liability.
 
  1. Certified true copy of memorandum and article of association (memart)
  2. Copy of the certificate of incorporation
  3. Copy of form co7 or CAC 2.3 (particulars of directors)
  4. Extract of board resolution authorizing the opening of account.
  5. Letter of authority to debit account from search charges.

JOINT ACCOUNT

Joint account is more of a brokerage account shared between two or more individuals. Joint accounts are most likely to be used by relatives, couples, or business partners who have a level of familiarity and trust with each other. It typically allows anyone named on the account to access funds within it

Two (2) independent references shall be provided by each signatory

SALARY ACCOUNT

On request of corporation or major companies, We open a salary account for you, with this  account, your salary gets credited.  Each employee of the company gets their own Salary Account which they are required to operate on their own.

One independent reference and letter of introduction from the employer.

OTHER CATEGORIES OF ACCOUNT WE OPERATE

Ilora Microfinance Bank offers many more account types to suit various purposes with smooth account operation. Such as:

  • Ileya/Christmas/Pilgrimage Account
  • Daily Contribution Deposit Account
  • Mandatory Savings Account
  • Children Education Account