Children Savings Account (CSA)

This account enables parents/guardians to plan and save for their children’s future from ages 0-18 years, in the attainment of medium and long term goals.

  • Base interest rate plus 2.5% per annum payable quarterly
  • The parent/guardian is not expected to withdraw more than twice a quarter
  • Account automatically converts to child mortgage plan savings account @ age 18
  • Minimum opening balance of N5, 000
  • Minimum balance on account is N5, 000
  • Minimum monthly deposit of N10, 000
  • Concessionary waivers on certain charges where parent wants to access mortgage after 2 years of consistent minimum deposit with a balance of N500, 000
  • Where this happens, interest is forfeited
  • Only one withdrawal allowed per quarter otherwise interest will be forfeited
  • Welcome gift for the child e.g. pens, towels, pencil set, lunch bag etc.

Home Ownership Mortgage Account (HOMA)

  • Interest earning account
  • Mortgage loan tenor up to 15 years
  • Equity contribution reduction for self-employed customers from 30% to 25%
  • Equity contribution reduction for paid-employment customers from 20% to 15%
  • 1% less the prevailing lending rate

The product comes in 3 categories and each category is named after the unique parts of and elephant (which is the emblem of the FirstBank Group). They are:

  • HOMA ‘TUSK’ – (The premium account) – The customer shall make a minimum monthly deposit of N150, 000 for 6 months.
  • HOMA ‘TRUNK’ – (The median account) – The customer shall make a minimum monthly deposit of N100, 000 for 9 months.
  • HOMA ‘TUFT’ – (The basic account) – The customer shall make a minimum monthly deposit of N50, 000 for 12 months.

Any withdrawal within the initial deposit period account falls back to base interest

Mortgage Flexi Savings Account (MOFLESA)

  • A savings account with the features of a current account
  • Base interest rate plus 1% per annum
  • Minimum opening balance of N50, 000
  • Minimum monthly deposit of N10, 000
  • Third Party Cheques allowed
  • Personalized Cheques allowed
  • Easier access to personal and mortgage loans
  • No Commision on Turnover (COT)
  • One (1) reference for account opening
  • An instant gift upon opening the account

Real Estate Plans

Contact Us

(234) 1 4615860–2