Save for the festive season

This savings account enables clients to accumulate money for domestic expenses during festive periods. .

Festival Savings Account

At LAPO MfB, we recognize your need to start saving now for future investments. Festival Savings Account is designed to give clients the opportunity to save money for increasing their stock for sale during business boom associated with celebrations such as Christmas, Easter, New Year Day, Ramadan, Salah, etc.


  • Available to individuals and groups.
  • Very low entry balance
  • Easy access to your account
  • Allows you to save money for stock increase intended for sale during festive periods.

Documents Required

  • Duly completed application form
  • 2 recent passport-size photographs
  • Current utility bill
  • A valid means of ID (national ID, driver's license, voter's card or international passport)

Festival interest rate

Earn interest on your entire account balance with a Festival Savings Account. That’s cash you earn simply for placing your money in an interest-bearing savings account.

Daily Collected Balance
Interest Rate
All balances

Rates are current as of January 1, 2021, and subject to change.

+Annual Percentage Yield. Rate is variable and subject to change.  Fees could reduce the earnings on the account. Call or visit a branch for more enquiry.

Frequently Asked Questions

Do I need a guarantor to open Festival Savings Account?


How do I open a Festival Savings Account?

To open a Festival Savings Account, you need to fill out the account opening form, bring 2 recent passport-size photographs, utility bill and a valid means of identification along to Riverside MfB branch closest to you.

Who can operate a Festival Savings Account?

Anybody can operate the account.

Where can I open Festival Savings Account?

You can open Festival Savings Account at any Riverside MfB branch nationwide. Our Client Support Officers (CSO) will be glad to open one for you.

Find the savings account that's right for you


Term Deposits (TDs)

Earn more interest than traditional savings. You choose the length of term that best fits your needs.


Individual Savings

An Individual savings account is a simple way to start taking important steps to secure your financial future..


Social Impact Deposit (SID)

Attractive interest on deposits; Nominate a child from a low-income household for Riverside Scholarship.

Details you need to make a smart decision

NGN 200 minimum opening deposit required for savings account. Please refer to each product and service for additional details. Additional terms and miscellaneous fees may apply. Products, features and benefits offered with accounts are subject to change at any time. You may vsit our branch for additional details.