Manage your money better with our VSA

Voluntary Savings Account (VSA) is a very flexible and convenient savings account designed for clients to make savings on a voluntary basis.

Voluntary Savings account

With a minimum opening deposit of NGN 1, 000 you can start taking important steps to secure your financial future.


  • Account minimum operating balance of N1, 000
  • Payments can be made anywhere nationwide with our Pocket Money banking service
  • Easy access to your account
  • Expert financial advice available

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)

Voluntary Savings interest rate

Earn interest on your entire account balance with a Voluntary 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

How do I open a Regular Savings Account?

To open a Regular 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 Regular Saving Account?

Anybody can operate the account.

Where can I open Regular Savings Account?

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

Do I need a guarantor to open a Regular Savings Account?


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.