Fairmoney, an online microfinance bank is offering a 24 percent annual instant interest to all holders of savings accounts on the FairLock, a fixed-term savings product that gives you the support (discipline) you need to not only achieve your goals but achieve them faster.
In an email newsletter, Fairmoney stated that the FairLock saving account helps keep funds safe and offers a high-interest rate.
Here is how the newsletter explained it
“When you leave money you don’t intend to spend just lying in your account, what’s the plan? You know how you keep talking about those long-term plans but you haven’t been able to meet up because you keep spending all your salary as it comes in.
“We get it. But we also understand that time is of the essence and those goals won’t meet themselves if you don’t move. Let’s help you reach them easier and faster with FairLock.
“James had N1,000,000 for a new apartment saved from his salary but needed an extra N1,000,000 to meet his dream place. While he was still saving for the remaining funds, he locked up the N1,000,000 he already had in FairLock and got N207,000 upfront interest instantly.
“Once salary came in every month, James set aside a certain amount in his FairLock account. By the end of the year, James was not only able to meet his target but also enjoyed the extra cash from his interest.”