ALERT Rainbow presently offers the following deposit and loan products to both existing and potential customers.
This is a regular/conventional savings product opened for people of all ages. This account attracts saving interest in line with prevailing market rates. This account can be opened with a minimum of ₦ 1,000 and 2% p.a. interest rate is applied.
This product is designed to meet the needs of individuals and corporate bodies that project for a future value. This account is specifically designed for the purchase of working tools/implements, assets acquisition etc. A certain amount may be saved by the customer intervals. For instance, daily, weekly, monthly or quarterly savings against a future project.
This product is designed to assist parents save towards their children school fees. This account can also be used to access education loans from the bank at a flexible and affordable rate.
This product is available for both individuals and corporate bodies. This account is targeted at medium and large scale entrepreneurs with good turnover on their account. The features are flexible to suit the needs of individual and corporate bodies. This account can be opened with ₦ 2,000 and ₦ 10,000 for individual and corporate bodies respectively.
This is product is designed for individual and corporate bodies that have surplus funds to invest for a period ranging from 30 to 365 days. The interest rate is negotiable and attractive.
This is a credit product designed to encourage the active poor to save with opportunity to borrow using their savings as collateral for the facility. Loan facility here ranges from ₦ 50,000 to ₦ 300,000, with flexible repayment terms and structure. Loans can be accessed within 24hrs subject to meeting all terms and conditions.
This product is designed to empower individuals and corporate bodies through acquisition of assets for personal and business purpose. For instance purchase of vehicles, working equipment and properties. This facility ranges from a minimum of ₦ 1,000,000 to a maximum of ₦ 10,000,000.The structure and terms of this facility are affordable and flexible.
This is a credit product designed for individuals and corporate bodies. Its purpose is to augment working capital. This facility ranges from ₦ 500,000 to ₦ 25,000,000.This facility can be accessed within 24hrs subject to meeting all conditions precedent to drawdown.
This product is designed to meet the needs of salary earners in the private sector with financial needs.The conditions are flexible and easy to access. The minimum loan is ₦ 100,000 and a maximum of ₦ 2, 000,000 loan amount will be determined by the net-pay on each applicants’ pay-slip.
This product is designed to meet the needs of salary earners in the public sector i.e Teachers and other Civil servants with financial needs.The conditions are flexible and easy to access. The minimum loan is ₦ 100,000 and a maximum of ₦ 2,000,000. This loan can be accessed within 24hrs subject to meeting all conditions precedent to drawdown. Loan repayment here is deducted from source ie(using Oracle deduction code). Loan amount will be determined by the net-pay on each applicants’ pay-slip.
This is a digital credit product designed for individuals in Nigeria who want to use family members abroad in the UK, EU and US as guarantors on a loan. The guarantor process is completed by the relative abroad online in minutes. Loan amounts range from ₦50,000 to ₦250,000, and can be accessed instantly subject to meeting all conditions precedent to drawdown.
This is a credit product designed to provide relief to Nigerian students, including youth corps members who need some emergency finance. This credit product can also be accessed online through our mobile application or website. The rates are affordable and flexible for all interested students/corps members. Loan facility here ranges from ₦ 5,000 to ₦ 20,000 only.
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