Frequently Asked Questions : Mpower Biz Account
Product Features | Mpower Biz Classic | MPower Biz Gold | MPower Biz Platinum |
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Opening balance | N20,000 | N50,000 | N250,000 |
Minimum daily balance | N20,000 | N50,000 | N250,000 |
COT | Zero (0) | Zero (0) | Zero (0) |
Monthly maintenance charge | N1,000 | N5,000 | N7,500 |
Sanctions for Default |
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Default account maintenance fee of N1/mille will be charged for all debit withdrawals on the account within the month in which the default occurred.
Yes
Product | Interest Rate |
---|---|
Mpower Biz Classic | 0.5% |
Mpower Biz Gold | 0.1% |
Mpower Biz Platinum | 0.1% |
Yes. This can be done via a board resolution signed by all the signatories to the account.
Yes. Customers willing to possess more than one MPower Biz account can do so.
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