Moniepoint unveils enhanced savings products, launches ‘One Step Ahead’ campaign with Funke Akindele

 Moniepoint unveils enhanced savings products, launches ‘One Step Ahead’ campaign with Funke Akindele

Moniepoint Microfinance Bank has unveiled an enhanced range of savings products and launched a new consumer campaign, “One Step Ahead,” featuring Nollywood actress and filmmaker Funke Akindele, popularly known as Jenifa.

The initiative is aimed at helping individuals and businesses build stronger savings habits while providing greater flexibility to respond to unexpected financial demands.

According to Moniepoint, findings from a recent customer survey showed that unexpected expenses account for 72.8 per cent of disruptions to savings plans among Nigerians, while irregular income affects 51 per cent of savers.

The bank said the findings informed its decision to offer savings solutions that combine financial discipline with flexibility, allowing customers to pursue long-term financial goals without being overly restricted when unforeseen expenses arise.

Speaking on the initiative, the Managing Director of Moniepoint Microfinance Bank, Babatunde Olofin, said the new savings solutions were developed to address common challenges faced by customers.

“These innovative savings solutions were developed specifically to ease customer pain points. Our ecosystem gives everyone the flexibility to grow their money and access it whenever they need it, combined with some of the best rates in the market — an offering that is truly unique,” Olofin said.

He added that the initiative was consistent with the bank’s broader mission of promoting financial inclusion and helping customers achieve their financial goals.

“Our mission is to create financial happiness for everyone. A savings product like this is a critical tool for ensuring people can confidently make their dreams come true while saving for both rainy and sunny days,” he said.

Moniepoint said the enhanced savings portfolio comprises four products designed to meet different financial needs and cash-flow patterns.

Target Savings allows customers to withdraw up to 50 per cent of their savings once without losing their interest, with returns of up to 11.5 per cent per annum.

Flexible Savings permits customers to make up to four withdrawals monthly without losing interest, while offering a rate of 9.5 per cent per annum.

The bank’s Fixed Deposit product offers interest upfront, with rates of up to 17.5 per cent per annum.

The fourth product, Save As You Transact, enables customers to save as they spend while retaining unrestricted access to their funds.

Moniepoint said customers, excluding premium tiers, can begin their savings journey with a minimum deposit of ₦1,000.

The financial institution, which says it serves more than 20 million business banking and personal customers, described the new product line as part of its effort to provide customers with an integrated platform for payments, savings and wealth-building.

The bank also said non-Moniepoint customers can access the products by downloading its business or personal banking mobile application, completing the account-opening process and fulfilling the required Know Your Customer (KYC) requirements.

The “One Step Ahead” campaign features Akindele within the universe of her popular Jenifa’s Diary series, using the familiar hair salon setting to communicate the importance of financial preparedness and flexible savings.

According to Moniepoint, Jenifa’s Diary, which premiered in 2015, has run for more than 20 seasons and remains popular among television audiences.

The bank described Akindele as a major cultural figure whose influence across Nollywood and the wider African entertainment industry makes her an ideal creative partner for the campaign.

Through the campaign, Moniepoint is encouraging individuals and businesses to prepare for both expected financial goals and unforeseen expenses by adopting savings solutions that allow them to remain financially prepared and “one step ahead” of life’s uncertainties.