Features
This account is designed for apprentices and other people who wish to save to be able to start a business or expand an existing business.
Customer is required to build up a 30% contribution in the account for the desired business.
The bank will provide a facility to a limit of N500,000.00 after satisfactory operation of the account.
Physical collateral may not be required.
Minimum operating and opening balance is N2,000.00
Benefits
It is convenient and easy to access
Short processing time
Assist in raising the initial capital or growing existing business
Features
This is an acronym for Value Earned and Retained Benefit (VERB). The product is designed for salary earners to meet their unexpected needs. A facility account is instantly set up on the account of the beneficiary and the customer can draw down from the account before the end of the month.
Non-collateralized.
Negotiable interest rate
A beneficiary would have opened a salary account with the bank
A letter of introduction from his employer
One-year overdraft facility not above 100% of the annual basic
Benefits
I00% of the customer’s annual basic at each point in time
Interest rate negotiable.
Short processing time
Features
Olive Save and Buy Shares (SABS) Account. This is a consumer credit product designed to enable customers to buy shares or acquire personal assets.
Maximum lending of N200,000
Customers make a 20% equity contribution on the shares or assets to be acquired
Tenured for 12 months
Finances acquisition of shares and personal assets.
Open an account with N 10,000 (current account)
Benefits
Easy access for the purchase of the asset or shares
Equity contribution of 30%
Not limited to Account holders
Negotiated payment plan for 24 months
Features
Save smarter with Olive GOLD. Our unique savings account combines the benefits of savings and current accounts. With features like free ATM cards and customized cheque books, Olive GOLD makes managing your finances easier than ever.
COT free (cash transactions only)
Opening balance of N5,000 (individual) and N10,0000 (corporate).
Minimum balance of N2,000 must be maintained in the account
Customized cheque books for internal withdrawals only.
Benefits
Accepts lodgment of cheques and dividend warrants
Monthly statement of account
Free ATM cards
Internal cheques can be issued thereby facilitating transactions
Features
Group Loans
Olive Microfinance Bank recognizes the strength and potential that come with collaboration. Our group loan collectively designed to empower communities, associations, and self-help groups to collective achieve their financial goals. Whether you are a community organization or a group of entrepreneurs, Olive MFB is here to provide tailored financial solutions.
Micro Loan
Olive Microfinance Bank provides quick micro loans to micro-entrepreneurs. We understand that businesses have diverse financial needs, so we offer micro loans tailored to meet your strategic financing needs. Our micro loans range from N20,000 to N5,000,000 and have a maximum maturity period of 24 months. Olive MFB is your reliable partner in micro-lending. Empower your business expansion plans with our micro loan designed specifically for your growth..
SME Loan
Olive Microfinance Bank recognizes the diverse financial needs of businesses, and our corporate loan products are tailored to provide strategic financing solutions for your company. Whether you are a startup looking for initial capital or an established business seeking expansion, Olive MFB is your trusted partner in corporate lending.
Minimum operating and opening balance is N2,000.00
Olive HIGHER EDUCATION LEARNING PLAN (HELP)
This is designed for students in Institutions of higher learning in Nigeria whose parent/parents are customers of the bank.
This facility is tenured for six months
Amount to be borrowed must not be more than N100,000.
The parent/s should be a customer of the bank
The student must have admission to study in any of the Nigerian Universities/polytechnics
The applicant student must be reading a professional course.
Features
Olive Agric Account (Olive Farmers Account) is aimed at assisting farmers either individually or as a group (cooperative societies)
For specific agricultural businesses like poultry or grocery
Up to N200,000 and N1,000,000 facility for individuals and the co-operative society respectively.
Tenor to be married with the gestation period of the crop / Livestock.
Account to be operated Two (2) months before loan application
Current Account with open balance of N50,000 for the co-operative society or N3,000 for an individual
Benefits
This product addresses the unique needs of farmers.