Financial inclusion: LAPO MfB introduces savings package for low income earners

In a bid to encourage financial inclusion, LAPO Microfinance Bank has introduced a new savings package tagged: “My Pikin and I (MPI)” for low income families.

This is according to a statement issued by Oluremi Akande, Head, Communications, LAPO MfB.

According to Akande, MPI account is a carefully researched product designed to provide a simple savings platform with low entry requirements.

“It is designed to help inculcate savings culture and greater financial inclusion for members of low-income households, small business owners, parents and guardians.

” Savers can open the account with as low as N200 and stand the chance of enjoying huge benefits such as: one-year free insurance cover, scholarship and interest earnings on savings,” he said.

He said the the bank had been running a three-month promo on the MPI package.

“The objective of the promo was to encourage better savings culture and discipline among low-income earners, build sustainable wealth and to increase financial inclusion.

“Over 11,000 new accounts were opened during the promo; an indication that LAPO MfB is a trusted and preferred destination for savings,’” he said.

He said that LAPO MfB would continue to promote its savings products for greater adoption as a means of economic empowerment and financial inclusion.

“LAPO MfB is committed to its mandate of social and economic empowerment of members of low-income households through its responsive products and financial services,” Akande said.