Risk free returns on your investment with the flexibility ofwithdrawal. Call deposits are tailored to meet your needs if you want to put away large sums of money for an unspecified length of time. In Octopus Microfinance Bank (OctopusMFB), a call deposit account is a flexible savings account that allows individuals and businesses to deposit and withdraw money as needed, providing easy access to funds. Here are the key points in a concise manner:
OctopusMFB’s call deposit account offers high liquidity, meaning you can access your funds quickly and without much notice, making it suitable for short-term financial needs.
It offers flexibility for managing your finances, but be aware of any fees or penalties OctopusMFB may impose for frequent or large withdrawals.
There is no fixed maturity date for a call deposit account with OctopusMFB. You can keep your money in the account for as long as you wish.
Our Hybrid Account is an account that runs on a savings platform with current account features for your convenience. This account has both saving and current account features, which is good for personal and business purposes In Octopus Microfinance Bank (OctopusMFB), a hybrid account is a type of bank account that combines features of both savings and checking accounts. Here’s a concise explanation:
Octopus MFB offers a combination of savings and checking accounts, allowing deposits to earn interest and withdrawals to be made conveniently.
You can use your hybrid account for everyday transactions, including writing checks, making electronic transfers, and using a debit card. It’s a versatile account for managing your finances.
Octopus MFB may require you to maintain a minimum balance in your hybrid account to avoid fees. Be sure to check the bank’s specific terms and conditions.
Here at OctopusMFB we offer up to 24% per annum.
Choose the best savings period for you, which might range from 7 days to 2 years.
OctopusMFB fixed deposit will be withdrawn automatically to your Octopus mobile wallet.
You can create multiple fixed deposit plans as per your needs anytime!
In minutes, you can create and activate your own Octopus Bank account.
First things first, you’ll need to have some funds in your Octopus account. If you don’t yet, you can easily do so by transferring money via your Octopus bank account. Once you have funds in Octopus Save, simply navigate to Home, tap the “Create a deposit” button, input the amount you’d like to keep away, and confirm. This will securely lock your funds in Octopus wallet.
Once your term is completed, the principal amount plus interest earned will be paid into your OctoSave account. From there, you are free to use your interest however you wish!
We offer several plans, with different interest rates and term lengths. Interest rates can vary between 11 – 24% per annum, depending on the term length. You are free to choose the combination of term length and interest rate that best suits you.
There are no fees or charges to use Octopus. It’s completely free!
24, Community Road, Ijanikin, Lagos
info@octopusmfbng.com