Prodigy Products
Prodigy Microfinance Bank was founded in 2023 with a mission to help people achieve their financial goals. We believe that everyone deserves access to fair and affordable financial services, regardless of their income or background. We offer a variety of products and services, including loans, and savings accounts. We are committed to providing our customers with excellent customer service and helping them reach their financial goals.
Prodigy Products:
A flexible payment solution that allows seamless transactions, bill payments, and funds transfers within and outside the Prodigy ecosystem. Available on mobile and internet banking platforms.
A simple and secure payment system designed for easy and quick transactions, making everyday banking hassle-free.
A group savings platform that empowers you to save collectively with friends, family, or colleagues, fostering financial discipline and community support.
Plan your dream vacation with our Travel Loans, offering up to N3,000,000 to cover travel expenses. Flexible repayment terms available to make your travel plans a reality.
Empower your business with our tailored loan products, offering up to N10,000,000 with flexible repayment options, designed to support micro and SMEs in achieving their business goals.
Access funding for your Local Purchase Orders (LPOs) with our LPO Financing, designed to provide businesses with the liquidity they need to fulfill contractual obligations.
Get an advance on your salary to cover unexpected expenses. Quick approval process and flexible repayment options up to 12 months.
Ensure your children’s education is uninterrupted with our school fees advance loans, offering up to N2,000,000 with refinancing options and a tenor of up to 90 days.
Maintain financial flexibility with our overdraft facility, allowing you to access funds when you need them the most, directly linked to your Prodigy Current Account.
Achieve your financial goals with our Future Target Savings account, offering attractive interest rates for disciplined savings.
Easily acquire assets for personal or business use with our structured financing options, designed to make asset ownership within your reach.
The Prodigy Current Account is designed for seamless banking transactions, providing access to mobile and internet banking.
Target Market:
– Individuals and businesses with verified monthly income.
– Businesses with a turnover of at least N100,000.
Features:
– Chequebook.
– Debit cards.
– Internet and mobile banking access.
– Access to loans and overdrafts.
– Minimum opening balance: N10,000.
– No minimum balance requirement.
Our Regular Savings Account offers interest on minimal transaction volumes, tailored for both businesses and individuals.
Features:
– Interest rate of up to 4% with a maximum of two withdrawals per month.
– Debit card with access to ATMs and POS terminals nationwide.
– Mobile, internet, and USSD banking access.
– Transaction notifications via text and email, including electronic statements.
– Minimum opening balance: N2,000.
– Minimum account balance: N500.
– No account maintenance charge, but a monthly fee of N100 applies.
Accelerate your savings goals with our Target Savings Account, offering up to 12% p.a. in interest rates.
1. Target Savings Silver:
– Minimum Opening Amount: N100,000
– Monthly Savings: N10,000 – N25,000
– No withdrawals in the first 6 months
– Minimum Savings Period: 12 months
– Interest Rate: 6%
2. Target Savings Gold:
– Minimum Opening Amount: N250,000
– Monthly Savings: N25,001 – N100,000
– No withdrawals in the first 6 months
– Minimum Savings Period: 12 months
– Interest Rate: 8%
3. Target Savings Diamond:
– Minimum Opening Amount: N1,000,000
– Monthly Savings: N100,001 – N500,000
– No withdrawals in the first 6 months
– Minimum Savings Period: 12 months
– Interest Rate: Up to 10%
4. High Yield Target Savings Account:
– Minimum initial deposit: N2,000,000
– Minimum Monthly Savings: Above N500,000
– Flexibility to increase deposit amount at any time
– No withdrawals in the first 6 months
– Minimum Savings Period: 12 months
– Interest Rate: Up to 10%
1. Instant Credit Line (Secured Overdraft):
– Amount: Up to N5,000,000 linked to your Prodigy Business Account.
– Secured by Target Savings and/or Fixed Deposit.
– Available within hours of application.
2. Micro & SME Loans:
– Amount: N50,000 – N10,000,000
– Repayment: Up to 12 months
– Fast and simple process
– Loan Calculator available for repayment estimates.
3. Salary Advance Loan:
– Repayment: Up to 12 months
– Fast and simple process
Requirements:
– Staff ID Card and government-issued ID.
– Three months’ pay slips.
– Completed Application Form.
– BVN and NIN.
Maximize returns on bulk earnings with our Fixed Deposit Account, featuring competitive and negotiable interest rates.
Features:
– Minimum Amount: N500,000
– Minimum Tenor: 90 days
– Negotiable rates based on amount and tenor.
– Can be used as collateral for instant loans or to guarantee loans for others.