How much interest does the Bank charge on loans?

3% monthly.

Does the Bank support individual loans?

The Bank has a loan product for individuals who meet the criteria for disbursement.

How soon must I repay my loan?

Loans are to be repaid within twenty-four (24) weeks with a one (1) week grace period.

Does the Bank support child account?

Yes.

What are the benefits of the Beta Life Savings Program?

Interest is payable quarterly, prizes for Bosak Trade Loan (BTL) customers who have a minimum deposit balance of N50,000 and non - BTL clients, a minimum balance of N75,000 as at December 2017.

I already borrow from the Bank. Am I eligible to open a Beta Life Savings account?

Yes.

What are the requirements for opening a Beta Life Savings account?

Three (3) passport photographs, a completed account opening form and a minimum balance of N500.00. If you don’t already have passport photographs, our officer can arrange it.

How long is the loan request process?

Four (4) weeks. Three (3) weeks for the pre-loan training and the fourth week for loan disbursement.

Can I change my group?

Yes.

Do I need tangible collateral to access loans?

No. Customer is to produce a minimum of two (2) guarantors.

Can I withdraw my savings without physical presence at the Bank?

No.

Does the Bank take fixed deposits?

Yes.

After what period is default interest charged?

Immediately after non-repayment.