LAPO Microfinance Bank (LAPO MfB) is strengthening its savings proposition with a Fixed Deposit product offering interest rates of up to 22 per cent, providing individuals and businesses with an opportunity to earn returns on funds they can afford to set aside for an agreed period.
The product comes amid growing interest in more effective ways to preserve savings, manage surplus cash and plan for future financial commitments. With Nigeria’s headline inflation at 15.39 per cent in August 2026 and food inflation at 19.57 per cent, disciplined financial management remains important for households and businesses navigating economic pressures.
Under the Bank’s indicative rate structure, deposits of ₦100,000 to ₦100 million attract 8 per cent for 30 and 60 days and 13 per cent for 91 days. For 180-day placements, rates range from 16 to 22 per cent, depending on the deposit amount, while the 365-day tenor attracts 22 per cent across all eligible deposit categories.
Commenting, Lilian Ehigiamusoe, Executive Director, Operations, LAPO, said: “Financial resilience begins with making informed decisions about the resources available today and how they can support tomorrow’s needs. Our Fixed Deposit product provides customers with an opportunity to earn returns on funds they can comfortably set aside for an agreed period. We want to encourage a more deliberate savings culture, where individuals and businesses make financial decisions that support their long-term objectives.”
The product offers practical benefits for different customer segments. Individuals can set aside funds towards planned expenses, while entrepreneurs and business owners can earn returns on surplus cash between trading cycles, provided they maintain sufficient liquidity for operational needs.
By expanding access to structured savings solutions, LAPO continues to promote financial inclusion and encourage customers to build stronger financial habits through informed savings and investment decisions.
Customers interested in the Fixed Deposit product can visit any LAPO branch for information on applicable rates, deposit requirements, interest calculations, maturity arrangements and early withdrawal conditions.
