High-Yield Dollar Account

Yes, the minimum monthly deposit is $1000.00.

You can only save in US Dollars

This campaign is ideal for you if you want to:

• Save in USD
• Earn interest on your USD savings
• Grow or diversify your USD savings portfolio
• Hedge against inflation or devaluation

Interest is paid quarterly.

6% on deposits between $1,000 to $9,999; or 7% on deposits from $10,000 and above

Yes, but the number of withdrawals affects your interest rate.

You can make one withdrawal per quarter and still earn the full applicable interest.

• Withdrawing 2-4 times will reduce your interest rate to 0.1% p.a.
• Five or more withdrawals will forfeit all earned interest for that quarter.

There are no fees for operating Target Savings, except for statutory charges such as SMS fees, transfer fees, stamp duty, and withholding tax on interest.

Yes. Target Savings (USD) is a secondary account, so you need an active Naira or Domiciliary account to open a USD Target Savings account.

Yes

Yes, target savings account can receive inflows

No.

• You can earn competitive interest rates on your USD savings.
• You can grow your USD savings for short-term or long-term goals.
• You can diversify your savings portfolio by including USD.

Yes, a minimum cash deposit of $1,000 is required for this account.

Interest is paid on a quarterly basis.

6% p.a. on deposits between $1,000 and $9,999

7% p.a. on deposits of $10,000 and above

Yes, withdrawals are allowed; however, the number of withdrawals may impact the interest earned.

You are entitled to one withdrawal per quarter while still earning the full applicable interest rate.

If more than one withdrawal is made within a quarter, the applicable interest rate will be reduced to 0.5% p.a. for that period.

Withdrawals can be made either in cash or via transfer (Ecobank Africa transfer, telegraphic transfer).

Yes. With the Corporate Domiciliary Account, you can receive transfers from overseas.