Deposit Products
This loan product is design to inspire micro customers of the bank to save first from their business activities and advance a credit line between N55, 000 – N100, 000 repayable over a loan tenor of 60 working days with a continuation of the daily savings till the final loan liquidation.
The product helps in increasing the working capital of the customer thereby improving the financial well-being of the customer after the full liquidation of the first loan.
Features & Benefits
Customer opens a savings account with Maritime MFB with a minimum of N1,000.
Minimum daily savings of N1,000.
Customer saves for 10 working days.
Loan size is based on the daily savings.
Maximum loan amount is N100, 000.
Daily savings continues during the loan repayment tenor.
Daily savings is cash back security for loan facility.
Loan repayment commence on the 11th day of loan disbursal.
Loan tenor is 60 working days.
Immediate application for fresh loan is allowed subject to full repayment of current loan.
2 Loan guarantors required.
Guaranteed increase in working capital.
No additional charges on loan.
Features & Benefits
Access to customized cheque book.
Allows for Third party withdrawal on account.
Convenience banking
Access to e-banking services.
Access to Loans and Overdrafts.
Name: Business name registration e.g. Enterprises or Ventures or Incorporated as a Limited Liability Company.Account holders are issued with the bank’s instrument which is payable also through the clearing system when presented in any bank within the country.This account can be opened by Churches and Mosques, Sole Proprietorship & Partnership.
Features & Benefits
Access to customized cheque book.
Allows for Third party withdrawal on account.
Convenience banking
Access to e-banking services.
Access to Loans and Overdrafts.
The key goal of opening this account is to save at the convenience of the account holder a certain sum periodically.
Features & Benefits
Safety and security of funds.
Flexible tenor.
Stable interest rate throughout the duration.
The account could be used as collateral for loan.
The purpose of this account is to encourage members of a cluster group numbering from 5 -20 to establish a business relationship with the bank in growing their businesses.
The product also provides for the group members to open their individual savings accounts and save weekly.
This account can be opened by clubs and societies, churches and mosques.
Features & Benefits
Simple account opening process.
Encourages regular savings among members.
Easy accessibility of credits for group members.
Flexible loan tenor and repayments.
Stable interest rate throughout the loan tenor.
The account could be used as collateral for loan.
Helps to increase working capital of members.
Staff members of organizations are encouraged to establish cooperative groups within their business environment and monthly savings ranging from N2, 000 above per staff with participating members who have saved for over 6 months can borrow 3 times their savings from the cooperative purse at an interest rate below the conventional.
Features & Benefits
Simple account opening process.
Encourages saving and easy accessibility.
Accessibility to credits.
Affordable rates.
Encourages and builds savings.
Features & Benefits
Simple account opening process.
Access to Maritime Anchor.
Flexibility.
The account offers higher returns on investment in comparism with the regular savings account.
Features & Benefits
Simple account opening process.
Safety and security of funds.
Flexible tenor.
Attracts higher Interest earnings.
Stable interest rate throughout the duration.
The account could be used as collateral for loan.
Helps to increase working capital.
Features & Benefits
Simple account opening process.
Attractive interest rate.
Access to ATM card.
Safety of deposits.
SMS alert on all transactions.
Helps create stable finance for the future.
Account can be used as collateral.
Credit Products
This loan product is design to inspire micro customers of the bank to save first from their business activities and advance a credit line between N5, 000 – N50, 000 repayable over a loan tenor of 40 working days with a continuation of the daily savings till the final loan liquidation.
The product helps in increasing the working capital of the customer thereby improving the financial well-being of the customer after the full repayment of the first loan.
Features & Benefits
Customer opens a savings account with Maritime MFB with a minimum of N1, 000.
Minimum daily savings of N200.
Customer saves for 5 working days.
Loan size is based on the daily savings.
Maximum loan amount is N50, 000.
Daily savings continues during the loan repayment tenor.
Daily savings is cash back security for loan facility.
Loan repayment commence on the 6th day of loan disbursal.
Loan tenor is 40 working days.
Immediate application for fresh loan is allowed subject to full repayment of current loan.
1 Loan guarantor required.
Guaranteed increase in working capital after full loan repayment.
No additional charges on loan.
This loan product is design to inspire micro customers of the bank to save first from their business activities and advance a credit line between N5, 000 – N50, 000 repayable over a loan tenor of 40 working days with a continuation of the daily savings till the final loan liquidation.
The product helps in increasing the working capital of the customer thereby improving the financial well-being of the customer after the full repayment of the first loan.
Features & Benefits
Customer opens a savings account with Maritime MFB with a minimum of N1, 000.
Minimum daily savings of N200.
Customer saves for 5 working days.
Loan size is based on the daily savings.
Maximum loan amount is N50, 000.
Daily savings continues during the loan repayment tenor.
Daily savings is cash back security for loan facility.
Loan repayment commence on the 6th day of loan disbursal.
Loan tenor is 40 working days.
Immediate application for fresh loan is allowed subject to full repayment of current loan.
1 Loan guarantor required.
Guaranteed increase in working capital after full loan repayment.
No additional charges on loan.
Features & Benefits
The Group opens their Group account.
Group members open Individual savings accounts each.
Group members save weekly through their individual accounts 20% of the intended loan sum.
Group members must operate their account for 30 days before loan request is presented.
Loan tenor is 12 – 24 weeks.
Loan repayment is weekly to be collected at the group weekly meetings.
Compulsory weekly savings of 1% of loan amount by each group member.
20% Equity contribution is part collateral for the facility.
Group members provides cross guarantees for each other.
1 external loan guarantor to be provided by each group member.
Features & Benefits
Simple account opening process.
Operates account for more than 14 days.
Minimum loan equity contribution is 10%.
Loan tenor is 12 – 24 weeks.
Loan repayment is weekly or monthly subject to the cash flow of customer’s business.
Competitive loan interest.
2 loan guarantors to be provided who must issue their postdated cheques along with 6 months bank account statement.
N500, 000. This loan product has a longer loan tenor
Features & Benefits
Simple account opening process.
Operates account for more than 14 days.
Minimum loan equity contribution is 20%.
Loan tenor is 3 – 6 months.
Loan repayment is monthly.
Competitive loan interest.
2 loan guarantors to be provided who must issue their postdated cheques along with 6 months bank account statement.
Features & Benefits
Simple account opening process.
Operates account for more than 3 months.
Customer saves up to 20% cost of purchase of selected asset.
Loan tenor is 3 – 12 months.
Loan repayment is monthly deductions from salary.
Monthly loan repayment amount must not be greater than 33% of salary.
Assets to be purchased in the name of the bank with ownership conferred on the customer after loan has been fully repaid.
Features & Benefits
Simple account opening process.
Domiciliation of salary account with Maritime MFB
Maximum loan tenor is 6 months.
Loan repayment is direct monthly deductions from salary.
Flexible loan repayment.
The LPO must not have more than 90 days payment tenor.
Features & Benefits
Simple account opening process.
Maximum Loan tenor is 90 days.
Loan repayment is balloon payment of Loan principal and Interest at maturity.