Central bank refers *savings deposits* as liabilities to the banks.

The most common form of savings in the olden days is the use of a wooden box or plastic box called *kolo* by a popular tribe in Nigeria.

The essence of savings is usually to have a financial cushion against unforseen circumstances.

Most financial institutions have basic type of savings as voluntary or normal savings, esusu , term or time deposits, target savings accounts, joint savings account and many more.

Each of these classes of savings have their own unique interest rates.

What's more, with Sysbanker EE:

1. The MfI's have different types of savings account integrated, this is also flexible for customization to accommodate their special types of savings.
2. Interest rates on this accounts are credited to the accounts holders automatically at the set time.
3. Statistical report of the accounts are kept for regulators and the management.
4. With Sysbanker EE, loans booked can be linked to customers savings account for easy loan repayment.
5. Customer gets free email transactions alert and electronic statements upon request.
6. On opening the savings account, commercial bank verification is automated with Sysbanker EE.


Sysbanker EE, your reliable partner in microfinance banking.

Kindly reach out to us at Mira Technologies  or visit our website https://www.miratechnologiesng.com/products/sysbankeree/  or call Jumoke on 08168002506

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