BETA Savings Account

BETA Savings account is a safe and convenient savings account which encourages customers to save towards their goal consistently on a daily basis. It is mainly targeted at market entrepreneurs/traders especially women who save regularly, leveraging on the services of “Alaajo” and “Esusu” programs. The account provides maximum convenience, security, affordability and flexibility (deposit any amount, withdraw cash whenever you need it) to customers via the use of mobile phone and access to multiple channels (Branch, ATM, BETA Friends – Sales and Service Agents)

- Banking services are delivered to customer’s shop/doorstep
- Accounts opened in the field via mobile phones
- Instant issuance and activation of Verve debit cards and Pins in the field
- Deposits and withdrawals in the field via mobile phones

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Features of BETA Savings Account

  • Easy, quick and convenient account opening process
  • No documentation or passport photograph required
  • “No wahala” way to deposit and withdraw via BETA Friends, ATMs and Branches.
  • Instant Airtime Top up from registered phone by dialing *540*045*Amount#.
  • Instant check balance service from registered phone by dialing *540*045*0#
  • Instant Loan services available via mobile phone

Channels of Interaction

  • BETA Friend – This is the main channel of interaction in the proposition
  • ATM
  • Branch

BETA Savings account can be opened on different tier levels with different requirements as shown in the table below

Tiers of Account Maximum Single Deposit Maximum Cumulative Balance Customer Identification Requirements
Tier 1 N50,000 N300,000
  • Names
  • Mobile Number
  • Date of birth
  • Place of Birth
  • Address
  • Gender
Tier 2 N100,000 N500,000
  • Any identifiable Identity card
  • Utility bills such as rent receipts, PHCN receipts, e.t.c
  • Customers Address will be verified
  • Bank Verification Number
Tier 3 No limit No limit
  • Any primary means of identification i.e. Driver’s license, International Passports, National ID or Voters Card
  • Utility bills such as rent receipts, PHCN receipts, e.t.c
  • Customers Address will be verified
  • Bank Verification Number

 

In additional to BETA Savings Account, customers also have access to BETA Target Savers account and BETA Kwik loan Accounts.

BETA Target Savers Account

This is just like a term deposit account, where customers can fix their money for a period for 3months, 6months or 12months with competitive interest rate of 3.9%. Withdrawal on Target savers account is only possible at the branch unlike the regular account where they can withdraw via the agents, ATM and branch.

  • Competitive Interest Rate of 3.9% per annum
  • No wahala way to save for a project e.g. children’s school fees, House/Shop rent, Land, Cars e.t.c
  • BETA Friends help customers make a sustainable plan (decide on duration and frequency and amount)
  • The more you save, the more you earn

BETA Kwik Loan

BETA Kwik loan offers No “Wahala” way to borrow up to N50, 000 with no collateral. The Loan is convenient and fast and can be assessed when you need it.

It’s as easy as;

  • Customers gets an sms for BETA Kwik loan
  • Customers accepts loan offer through their mobile agents
  • Customers receive money sharp sharp into their BETA Account
  • Customers Pay back within 30 days
  • Customer can borrow again and again

To qualify, you must have BETA Savings Account and have operated the account for 6months. Also a good credit record is required to access the loan.

Pre-approval via SMS for a 30-day loan

  • Customers receive money sharp sharp into their BETA Account
  • Pay on time and borrow again and again
  • BETA KWIK Loan can be used for ANY purpose and not only business as is the case with most loans
  • Customer must be BVN compliant to access the Kwik loan in line with CBN rules
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