It is a known fact
that the hub of every business is finance. Reality Microfinance Bank offers a
number of financial products to meet various business needs either for
operating expenses or equipment financing.
(i)
Staff
Salary/Pay Roll Services
RMFB offers staff
salary and pay roll services on monthly basis. We open accounts for staff and
automatically credit their accounts with agreed amount based on the instruction
of the employers. With our staff salary services, the risk of cash handling and
payment will be avoided. RMFB also extends
various benefits of a staff salary account to employees. Benefits such as
salary advance, personal loan, assets loans etc. All you need to do as employer
is open a current account with our bank to facilitate smooth running of staff
salary/pay roll services.
(ii)
Capital/Household
/School Assets Financing
Organizations may
need capital assets to further improve on their productivity. Acquiring such assets may have an adverse
effect on the cash flow and working capital. RMFB has a dedicated team of
experts that will assist to arrange a comprehensive finance package to suit
every need. We finance a wide range of new and used moveable assets such as:
o
Passengers and commercial vehicles
o
Capital equipment – office equipment,
medical equipment etc
o
Specialised equipments – equipment for
artisans such as sewing machines, braiding machine, dryers, carpenter tools
etc.
o
School Development - stationeries,
laboratory, generator, boarding materials etc
o
Household Assets- television, fridge,
furniture, kitchen wares etc
(iii)
Business
Term Loans
We provide business
loan to supplement working capital. This loan will be paid off in installment
over a period of six months. The amount of the loan, the interest rate and
repayment plan could be discussed and arranged in such a way to suit individual
operation.
(iv)
Insurance
services
Our bank has a standing active business
relationship with Starco Insurance Plc., a reputable insurance company in
Nigeria. We assist our clients with the necessary advice on insurance policies
and also on request make available insurance expert from the insurance company
to provide details/information on all insurance policies that may be beneficial
to our clients. We have arranged different insurance policies for our clients
covering Personal Accident, Fire and Burglary (assets), Vehicle insurance,
Goods in Transit, Money Insurance, Workmen Compensation Life assurance
etc.
(v)
Daily
Contributions (Ajo or Esusu)
RMFB also offer a
unique daily contribution services for both salaried individuals as well as
traders. This product will afford clients opportunity to contribute a specific
amount on daily basis. The amount contributed is redeemable at the end of the
month. However, RMFB can provide clients with an overdraft on the account
whereby a client can collect a specific amount at the beginning of the month
with daily repayment till the end of the month. With this product, the client
is able to collect money yet to contribute and pay back by month end.
(vi)
Business
Re-engineering
Some businesses have
not experienced tangible growth in the past years due to owner’s inability to
adapt with dynamics of global economy. Our dedicated team of experts will assist
to turn loss making microenterprise into profit making. This will be made
possible through in-depth marketing strategy, technical know-how, and customer
relationship management among others.
(vii) Micro Business Development
Services
With our experience we
can help with business development services to promote clients’ business. This
service include providing information on economic group and cooperative,
business empowerment training, capacity building of customer, small business
management, record keeping, vocational training etc.
(viii) Fixed Deposit facilities
We have competitive
rates for our fixed deposit account. The interest rate can be discussed and
arranged to allow clients enjoy best interest on their fund.
(ix)
Festival
Savings account
Our festival savings account
is to help our customers to have better enjoyment during any festival. It will
afford our customers the opportunity of holy pilgrimage to Mecca or Jerusalem.
The account is a form of target savings for specific occasion such as Ileya,
Christmas, Easter etc.
(x)
Training
Human
capacity human building is important to real productivity in any form of
business. The bank is armed with both human and material resources to improve
human capacity and to turn a crude hand into a professional within the shortest
time possible.
(xi)
Diaspora Services
Reality Micro-Finance
Bank offers a wide range of life impacting products/services to Nigerians in
the diaspora. Such services include:
(1) Reality Property Account (RPA)
Reality Microfinance
Bank has a special product for those in Diaspora who wishes to acquire landed
properties in Nigeria without any problems or stress. This service is to overcome problems
associated with acquiring properties in Nigeria such as family and friends turning
embezzlers of remitted funds for properties. With our Reality Property Account (RPA), clients
will be able to save towards his or her dream property without any disappointment.
Feature/Benefits.
a. Opportunity of regular savings to the
accounts.
b. Loan benefit to finance building project in
Nigeria.
c. Money transfer with little or no commission
to pay.
d. Supervision of the project, if need be.
(2)
Reality Money Transfer Account (RMTA)
We have guaranteed
money transfer that gives clients and their family in Nigeria a great deal of
peace of mind. A current account with Reality MFB will give opportunity to family
to collect their monthly allowances with no hassle.
Feature/Benefits
a. Constant and regular availability of fund
to your family.
b. Elimination of dubious character swindling
your family in Nigeria.
(3) Reality Staff Salaries Account (RSA)
This account is good
for those in diasporas with business entity(ies) in Nigeria. The current
practice by many organizations is outsourcing the handling of staff salaries to
banks with capability and experience in handling such sensitive service. Each
staff will open an account with RMFB and on your instruction the accounts will
be credited.
Benefits:
a. Risk of cash transfer will be eliminated
b. Elimination of fraud through ghost workers
c. Effective cash/account management
