Micro Deposits

  1. Daily Contributions (Isusu/Akawo)
  2. Current Deposits
  3. Savings Deposits
  4. Fixed Deposits

Every Account holder shall pay a registration fee of N2,000 for purchase of form upon collection of form

  1. Daily Contributions (Isusu/Akawo) – Minimum Daily Contribution shall be for 30 days circle (including Saturdays and Sundays) shall be a minimum N500 per day. Fridays collections shall be double to cover Saturday while Mondays shall be Double to cover Sunday collections.

Charge will be 10% per month.
Monthly payment shall be paid after deduction of 10% Administrative charge to the customer personally, transferred to the Savings or Current Deposit upon instruction by the customer.

  • Current Deposit – Account opening Shall be minimum cash of N500. The monthly charge to the customer shall be N1.50 per N1,000 withdrawal. Minimum account balance shall be N500.
  • Savings Deposits – Minimum savings Deposit is N5,000. The interest rate payable to the account holder is 5% p.a. subject to review based on the market rate of returns.
  • Fixed Deposit – Minimum fixed deposit is N10,000. Interest Rate which shall be subject to review based on the market rate of returns shall be based on the following ranges:

N10,000          –N1,000,000                    –           5% per annum

N1,000,001     – N5,000,000                   –           7.5% per annum

N5,000,001 and Above                             –           Negotiable

Payment Details

Name: Maranatha Microcredit Cooperative Society Limited,
Bank: Access Bank
Account No. 1227672698