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Firmus Microfinance Bank Savings Account Interest Rates

Written by Taiwo Temitope-Adesope | Apr 24, 2024 8:18:04 AM

Are you looking for a safe and accessible way to save money in Nigeria? Firmus Microfinance Bank (MFB) offers a variety of savings account options to suit your needs. Whether you're saving for a short-term goal or building your long-term wealth, Firmus MFB can help you reach your financial goals.

Firmus MFB Savings Accounts

Firmus Standard Savings Account: This is a savings account with a minimum opening balance of N2,000. You'll earn a competitive interest rate of 1% per annum (p.a.) on your deposited funds. Perfect if you're a beginner saver.


  • Requirements 
  1. Bank Verification Number (BVN).
  2. Recent passport photograph of all members.
  3. KYC Documentation of the customer.
  4. NIN.
  5. 2000-naira account opening fund.

Firmus Save Account: This account requires a slightly higher minimum opening balance of N5,000 but offers a more attractive interest rate of 5% p.a. This could be a good option if you have a larger amount to save and are looking to maximize your returns.


  • Requirements 
  1. Account opening form duly completed.
  2. Two recent passport photographs.
  3. Address verification.
  4. Full KYC Documentation of the customer.
  5. Bank Verification Number (BVN) of signatory.

Firmus Pearl Savings Account: This is a special savings account designed for children. It's a great way to teach your child the value of saving money and help them plan for their future.

This account enables parents/guardians to save for their children/wards at 1% interest rate per annum with an initial deposit of N2000 (Two Thousand Naira), teaching children the value of saving early which can help them develop their financial habit for life and also to show how exciting savings can be. It ranges from age 0-17years. Parent/guardian will be primary account holder with the responsibility of running the account until their child/ward attains adulthood. 
 
  • Requirements 
  1. Child's Birth Certificate.
  2. Parent/ Guardian's Bank Verification Number (BVN).
  3. 2000-naira account opening fund.
  4. Passport photograph of the child.
  5. Parent’s/Guardian’s Valid Means of Identification. 
 

Benefits of Saving with Firmus MFB:

  • Competitive Interest Rates: Earn interest on your deposited funds, helping your money grow over time.
  • Flexible Account Options: Choose the savings account that best suits your needs and financial goals.
  • Safe and Secure: Firmus MFB is a licensed and regulated financial institution, ensuring the safety of your

How to open an account

1. Select ‘Firmus Microfinance Bank'. 
2. Read through the information provided on the Firmus page to understand more about the provider, and its products.

3. Select a product.
4. Click on ‘Open Account’ to begin the application process.
5. Fill in your personal details and provide all the necessary documents.

6. Submit your application form for review and processing.
7. After successful review of your application, you will receive an email notification confirming that your application has been approved!

By saving with Firmus Microfinance Bank, you can take control of your finances and build a brighter future.
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