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OUR SERVICES
We have array of financial products and services that are adapted to meet the financial needs of our various customers. Specifically, our products and services address the requirement of our clients in the areas of savings, investments, borrowings, and advisory services. They include:
SAVINGS ACCOUNT PRODUCTS:
- Madelyn Regular Savings Account (Madelyn Regular):
Madelyn Regular Savings Account is a savings account that is not only affordable but also enables customers to enjoy all the benefits of a regular savings account.
Features:
- Affordable minimum opening balance
- Affordable minimum balance
- Madelyn Prestige Savings Account for Individuals (Madelyn Prestige- i):
The Prestige Saving Account for Individual is a unique savings account that gives an individual the flexibility of a current account. The account provides cheque books that can be cashed at any of our branches.
Features:
- Madelyn Prestige Savings Account for Enterprises ( Madelyn Prestige-e):
Features:
- Minimum opening balance of N15,000.00
- Minimum operating balance N5,000.00
- Customized cheque for withdrawals
- Madelyn Merry-Go-Round Savings Account (Madelyn Merry-go-round):
Madelyn Merry-Go-Round Savings account is for children of birth up to 17 years of age. With Merry-go-round, you inculcate in your children/wards a savings culture while saving up for their future. Children’s cash gifts at naming ceremony, birthday parties, etc can be used to open this account.
Features:
- Minimum opening balance of N2,000.00
- Free Standing Order for parents/guardians who are Madelyn Bank account holders
CURRENT ACCOUNT PRODUCTS:
- Madelyn Individual Current Account (Madelyn Individual Current) This is a transaction account designed for individuals to carry out their daily transaction with convenience and ease. It provides the customer with ready access to funds through cheques made payable at any of our branches.
2. Madelyn Business Current Account (Madelyn Business Current)
This is a transaction account designed for small and medium scale business enterprises to carry out their daily business transaction with convenience and ease. It provides the customer with ready access to funds through cheques made payable at any of our branches.
INVESTMENT PRODUCTS:
1. Madelyn Fixed Term Deposit Account (Madelyn FTDA):
Our Fixed Term deposit account (FTDA) avails the unique opportunity to invest a fixed amount over a fixed period of time (30 days, 60 days, 90 days, 180 days, 365 days, etc) at a fixed interest rate.
2. Madelyn High Yield Account (Madelyn High Yield)
This is a High Yield investment Account that enables investors (individuals, Businesses, Associations, Clubs, etc) to earn interest upfront on their investment. With upfront interest, investors can meet urgent financial needs without having to neither break nor deplete your investment.
3. Madelyn Hybrid Account (Madelyn Hybrid)
Madelyn Hybrid is Savings/Borrowing Account allows businesses, trade, associations, clubs, churches, and families that have cash flow potentials to save towards but achieve their dream projects without waiting to have 100% of the cost.
BORROWING PRODUCTS:
We offer a wide range of borrowing products designed specifically to our customers’ financial needs and individual lifestyle. Specifically on our borrowing products are
- Madelyn Business Loan (M Business):
Madelyn Business loan is a working capital loan designed for small scale businesses that desire to borrow for business purposes but lack conventional collateral to secure their loans.
Features:
- Access to loans adequate to your business needs and capacity
2. Madelyn Personal Loan (M personal):
With Madelyn personal loan, you will have access to funds to meet your personal financial needs. It is a short to medium term loan specifically for individuals employed by credible organizations and Sole Proprietors with verifiable, sustained and guaranteed cash flow. The facility assists you pay for both planned expenses and unplanned expenses.
3. Madelyn Salary Advance (M Salary):
Madelyn Salary Advance is designed for staff of credible organizations whose salary accounts are domiciled with Madelyn Bank, and are faced with unexpected and unplanned expenditure that cannot wait till the pay day. It enables the staff to have access to quick fund to take care of emergencies by overdrawing his/her account pending the receipt of salary.
4. Madelyn Micro Lease (M Micro Lease):
With Madelyn Micro Lease, small and medium businesses, individuals, workers in paid employment and as well as reputable consulting firms (Audit, Accounting, Tax, Law, Clinic, Management, etc) can acquire assets and equipments of necessity. These assets include:
- Fridges, Deep freezers,Refrigerators, Gas cookers,
- Generators (mini size) Air conditioners, Furniture,
- Washing machinesPersonal computers/laptops
- Communication gadgets (mobile phones, handsets)
- Motorcycles (Okada),
- Tricycles, Machines etc.
- Electric cookersOvens
- Micro waves
5. Madelyn LPO Financing (M LP0)
This is a credit product designed to enable customers who have LPOs, Work Orders, and Contracts from reputable oil majors but do not have the fund to execute such contracts. M LPO enables you have access to the required fund based on proper domiciliation of proceeds from contract employers.
6. Madelyn Invoice/Receivable Discounting (M Invoice)
This product enables Madelyn Bank to provide funding to customers who have supplied goods/services or executed contracts for which invoices have been duly accepted for payment. For now only invoices from ExxonMobil qualify for this product.
7. Madelyn Group Loan (M Group)
Madelyn Group Loan is a working capital loan designed for micro-entrepreneurs who are members of a group, club or association. The group can access this loan facility to execute a project or purchase assets of benefit to the group.
8. Madelyn Cards services:
In collaboration with our corresponding bank, we provide card services to meet our customers’ convenience without compromising security and reliability. Madelyn card is a debit card that is linked to your current account and/or savings account. Madelyn Card affords the convenience of making payment anywhere in the country. It reduces the risk of cash handling and it is a widely acceptable, as it can be used in all channels where InterSwitch card are accepted like ATM, POS terminals, WEB and mobile phones.
9. Madelyn Business Advisory Service (Madelyn BAS):
Madelyn Microfinance Bank recognizes the large market of small business customers with various business problems and has put in place Business Advisory Services (BAS) experts will look into these problems in greater detail and proffer advice. Madelyn BAS is not only a problem-solving support for its customers but also backing to those customers with potential to expand faster and more soundly than would otherwise be the case.