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Rates and charges

Every rate we pay, and every rate we charge.

Including what each one works out to per year, so a deposit and a loan can be compared side by side.

Open an accountWork out a figure
Last updated1 August 2026We give 30 days’ notice before any rate changes
Interest rates, as published on 1 August 2026
TermMinimumRate
AjoOn the pot, shared across the members
Between rotations—10% p.a.10%
Asset FinanceFlat, on the amount financed after your 30% deposit
12 months₦200,0003.2% a month38.4%
Business AccountOn the trading balance, paid monthly
Withdraw any time—10% p.a.10%
Business SavingsEight free withdrawals a month
Withdraw any time₦5,00012% p.a.12%
Cooperative LendingFlat. Our lowest lending rate — the group guarantees each member
6 months₦500,0003.0% a month36%
Everyday AccountWorked out daily, paid on the first working day of the month
Withdraw any time₦1,0008% p.a.8%
Fixed Income NoteCapital at risk. Not an NDIC-insured deposit
12 months₦100,000From 22% p.a.22%
Fixed Income NoteCapital at risk. Not an NDIC-insured deposit
24 months₦100,000Up to 26% p.a.26%
Fixed SavingsNo access until maturity
90 days₦50,00018% p.a.18%
Fixed SavingsNo access until maturity
180 days₦50,00020% p.a.20%
Fixed SavingsThe highest rate we pay on an insured deposit
365 days₦50,00022% p.a.22%
Flex SavingsFour free withdrawals a month, then ₦50 each
Withdraw any time₦50012% p.a.12%
Salary AdvanceFlat. Plus a one-off 0.5% management fee
1 to 2 months₦10,0002.5% a month30%
Savings-Backed LoanFlat. Plus a one-off 1% management fee. Your savings keep earning
3 to 6 months₦20,0003.5% a month42%
Savings-Backed LoanFlat. Plus a one-off 1% management fee
12 months₦20,0004.0% a month48%
Target SavingsBreak it early and the interest is recalculated at 8%
Until your date₦1,00016% p.a.16%
Treasury-Backed NoteIndicative — set at the CBN auction. Not an NDIC-insured deposit
364 days₦25,00019% p.a.19%
Working Capital LoanFlat. Plus a one-off 1.5% management fee
3 to 6 months₦100,0004.0% a month48%
Working Capital LoanFlat. Plus a one-off 1.5% management fee
18 months₦100,0004.5% a month54%

The “a year” column converts every rate to the same unit so you can compare them. A flat 3.5% a month is 42% a year.

Charges

What everything costs

Free things are listed as free. A tariff that lists only charges makes you assume the rest are charges you have not found yet.

Everyday

Opening an account
Free
Monthly maintenance
Free
Transfer to another bank
₦10 under ₦5,000 · ₦25 up to ₦50,000 · ₦50 above
₦10 – ₦50
Transfer to a Citadele account
Free
Withdrawal at an agent
Per ₦10,000, charged by the agent
₦100
Withdrawal beyond the free monthly allowance
After 4 on Flex Savings, 8 on Business Savings
₦50
SMS alerts
Per message. Free in the app
₦4
Statement
Any period, in the app
Free

Cards

Debit card, including delivery
Once
₦1,500
Keeping a card
Free
Another bank’s ATM
After the first three each month
₦35
Freezing and unfreezing
Free
Replacing a card
₦1,500
Creating a virtual card
₦500
Funding a virtual card
Of the amount converted, at the day’s official rate
1.5%

Loans

Applying
Free
Management fee
Of the amount, once, at drawdown. Stated before you accept
0.5% – 1.5%
Repaying early
And the remaining interest is cancelled
Free
Late repayment
On the overdue amount only, never on the whole loan
1% a month
The shop visit
Free

Business

Opening a business account
Free
Bulk payment
Per beneficiary, on a batch of 20 or more
₦10
CAC registration, if you need it
Once, including the CAC’s own fee
₦18,000
POS terminal for an agent
On loan from us
Free
POS terminal lost or damaged
Replacement cost
₦45,000

The details

Six things that apply to everything above

  • Interest on deposits is worked out daily and paid on the first working day of the month.
  • Interest is subject to 10% withholding tax, which we deduct and remit as the law requires. Every figure in our calculators is shown after tax.
  • Loan rates are flat monthly rates on the amount borrowed. The annualised column is the same rate expressed per year, so you can compare it with a deposit rate.
  • The rate on a Fixed Savings deposit is locked on the day you open it. If we cut our rates afterwards, yours does not move.
  • Investments are not deposits. Fixed Income Notes and Treasury-Backed Notes are not insured by the NDIC and your capital is at risk.
  • We can change published rates, and when we do we give 30 days’ notice in the app and by email.

CitadeleCapitals Microfinance Bank (RC 1424022) is licensed by the Central Bank of Nigeria as a microfinance bank. Investment services are regulated by the Securities and Exchange Commission. Deposits are insured by the Nigeria Deposit Insurance Corporation (NDIC). RC 1424022.

Ready when you are

The rate you see is the rate you get.

No tier you have to qualify for, no introductory rate that drops after three months, and 30 days’ notice before anything changes.

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