Investment Account Terms And Conditions

These Terms and Conditions are applicable to all the bank investment accounts. (Target Account, My Child’s Account and I Dey Save Account)

  1. Investment commencement date

The investment plan will commence upon receipt of the first payment in the designated account and acceptance of the duly filled forms. All cheque payments into The Bank’s account must have gotten value and confirmed before it is booked.


  1. 2. The account holder agrees to assume full responsibility for the genuineness, correctness and validity of all endorsements appearing on cheques, orders, bills, notes, negotiable instruments, receipts, and other documents deposited in account holder’s account.
  2. If a cheque credited into customers investment account is returned dishonored, the same may be transmitted to account holder through the last known address either by bearer or by post. However, a system generated message will be sent to account holder as notification. Customer should also note that, returned cheque will attract a charge which will be borne by the customer.


  1. 4. Increase/decrease in the monthly premium: Customer is required to send in a letter of instruction stating the amount to be increased or decreased to. The amount decreased to should not be less than the minimum payment required to open Neptune Investment account.


  1. Extension of Investment. Account holder is required to write an instruction to the Bank requesting for extension of investment.


  1. 6. Termination of investment: Customer can voluntarily terminate the investment before the maturity date and this is subject to appropriate penal charge.


  1. Account holder agrees that, any termination before maturity date will lead to the customer forfeiting the interest accrued on the investment. This is referred to as the penal charge for termination before maturity date.


  1. The Bank reserves the right to debit the account in case of erroneous credit made into holder’s account .
  2. Changes in Intrest rate: That I/we are aware that Interest rates are fixed and cannot change once the investment plan has started running.


  1. Payment of interest on investment: Account holder is fully aware that all Interest rates are backend that is they are paid at maturity of the investment plan. Upfront payment of interest is not allowed.


  1. 11. Maturity of the investment : Account holder agrees that on maturity of the investment plan, the sum total of the entire monthly payments paid and the interest accrued in the investment account will be transferred into his/her account with Neptune microfinance Bank Ltd.



  1. That for transfer into any other account not domiciled at Neptune Microfinance Bank Ltd., I/we will bear the cost for transfer to other banks.


  1. The account (s) shall not be used as a medium of converting funds belonging to other persons.
  2. 14. Collateral: This investment account serves as collateral to whatever loan/advances collected by the account holder until it is fully liquidated.
  3. 15. Change in Terms and condition: It is agreed that The Bank shall have the right to modify the nature, conditions and stipulations of the investment accounts by a written notice to the account holder or by notice posted in the Banking hall. Any such amendments shall be binding on the account holder from the date of the said notice for any reason whether or not the account holder actually receives the notice.
  4. Indemnity /Disclaimer clause: I/we hereby agree to indemnity NEPTUNE MICRO FINANCE BANK LTD. In full against any action, claim proceedings, act arising from this account or representation made by me/us in respect of this account or for whatsoever connection with this account . We/I further confirm all our dealings in respect of this account shall not be contrary to any subsisting regulation in force whether in Nigeria or any other country from time to time.
  5. The Bank disclaims any liability for any funds asset deposited by you which are subsequently found to have been derived from illegal source or activities.