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Target Savings

Name it, date it, and stop thinking about it.

Tell us what you are saving for and when you need it — we work out the amount and move it for you.

Set a targetSee all rates

16%a year, until the date you set

16%
a year
₦1,000
to start
Daily
weekly or monthly
Any date
you choose

Work it out

See exactly what you will get back

After tax, not before it. Change the amount or the term and the figure moves with you.

Hundred thousands

Two hundred and fifty thousand naira

For how long?

What you get back

₦286,000

after 12 months, at 16% a year

Amount you save
₦250,000
Interest earned
₦40,000
Withholding tax at 10%
-₦4,000

Simple interest at 16% a year on the balance as it builds, less the 10% withholding tax the law requires us to deduct on interest.

Start this plan

Saving ₦250,000 in Target Savings for 12 months earns ₦36,000 after tax, giving ₦286,000 back.

How it works

How Target Savings works

Four steps at the most, and none of them involves a branch.

  1. 1

    Say what it is for and when you need it

    "House rent, 1 March." "School fees, September." Naming it is what makes it hard to raid.

  2. 2

    We work out what you need to put aside

    Daily, weekly or on payday — whichever suits how your money actually comes in.

  3. 3

    It moves on its own

    On the day you chose, from your Everyday Account. Miss one and nothing breaks; the plan simply catches up.

  4. 4

    It pays out on your date

    Capital and interest, on the morning you said you needed it.

In the app

This is Target Savings, as you will actually see it

Not a screenshot. Everything in this phone is the same code the app is built from, drawn live in your browser.

Get the appSet a target

House rent

₦680,000of ₦1,000,000Due 1 March

Put aside each month

₦25,000 every FridayOn track
Interest so far₦48,300
Rate16% a year

What you need

  • Your BVN.
  • A photo of a valid ID — NIN slip, driver’s licence, voter’s card or passport.
  • A phone number registered in your name.
  • A selfie, taken in the app.

Every deposit with us is insured by the NDIC. You do not apply for that cover and you are not charged for it.

Set a target

Rates and limits

Interest
On the balance as it builds
16% p.a.
Broken before the date
Capital is never touched
8% p.a.
Minimum to start
₦1,000
Withholding tax on interest
Statutory. Deducted before payment
10%

What it costs

Opening and running the plan
Free
Missing an automatic payment
No penalty, ever
Free
Payout on your date
Free
Breaking early
Interest drops to 8% p.a.

Questions

The things people ask before they start

If yours is not here, call us on the number at the bottom of this page and a person will answer.

It is insured. CitadeleCapitals is licensed by the Central Bank of Nigeria and every deposit is covered by the Nigeria Deposit Insurance Corporation, up to the NDIC limit for microfinance banks. The cover is automatic — you do not apply for it and you are not charged for it.

Nothing happens. There is no penalty and no default. Trading is not steady, and a savings plan that punishes a slow week is a plan people abandon. The app just shows you what you would need to put in to still hit your date.

Yes, and your capital comes back the same day. The interest is recalculated at 8% a year rather than 16% — that gap is the whole reason the plan works.

Up to ten at once. Rent, school fees, a restock and a trip can each be their own plan with its own date, which is much easier to keep track of than one pot you have to mentally divide.

People also look at

Flex Savings

Save today, withdraw tomorrow. No notice, no penalty.

12%a year, and you can still reach it

Learn more about Flex Savings

Ajo

Run your rotating savings group with the money held by a bank.

₦0to run a group, and nobody holds the cash

Learn more about Ajo

Fixed Savings

Lock an amount for a term you choose and earn the most we pay.

Up to 22%a year, on a 365-day term

Learn more about Fixed Savings

Licensed by the CBN · Deposits insured by NDIC

Open Target Savings in five minutes, on your phone.

Your BVN, a photo of your ID and a selfie. No branch, no forms, no minimum deposit.

Set a targetTalk to someone first