Products and Services
Current Accounts
This is a non-interest- bearing account offering customers multiple options to deposit funds, with withdrawals available without notice to the Bank. This product offers its customers a checking account that allows individuals and small entrepreneurs with bigger cash flow needs to transact and operate their businesses.
Savings Accounts
A flexible interest-bearing account offering customers multiple options to deposit funds with regular withdrawals available without notice to the Bank. It is targeted at the general public, including salaried employees.
Susu Savings Accounts
Susu collectors collect very small amounts on a routine basis (usually daily) from the clients’ doorsteps with flexible withdrawal option. With this product, the collectors regularly move around various markets and business districts to mobilize funds from their respective groups of clients. They will register the deposits in the clients’ passbook right in the field and issue a receipt to the customer.
Fixed Deposit
This is a fixed interest-bearing account for a prescribed period of 3 to 12 months or more. The customer will be issued with a certificate, and on maturity, the customer can either collect the principal plus interest or roll it over for another fixed period.
Group Loans
The product is designed to cater for micro entrepreneurs particularly trade-based women borrowers forming a group of four or more members while co-guaranteeing for each other
SME Loans
Individual loans are granted to micro and small entrepreneurs to augment their working capital to expand their businesses.
Specialized Loans
We offer bespoke borrowing options for all our customers’ business need. We offer structured advances and loans which take into account seasonal trends of our customers’ product or wares. We offer solutions such as overdrafts, asset finance, medium-term loans, and revolving credit plan and production loan.
Remittances
Ejuraman Rural Bank provides international and domestic money transfer services. Traders and people from rural areas who have migrated to town will have access to a fast, secure and affordable service provided by ERB through its domestic money transfer services like Apexlink which works for both customers and non-customers to send and receive money at any rural bank in the country, e-zwich etc. Whilst Western Union, MoneyGram, Ria, Samba etc money transfer services provide customers and the general public a means of claiming remittances from friends and family abroad.
Mobile Money Transfers
We provide services in relation to all the various mobile money platforms which include MTN Mobile Money, Vodafone Cash and AirtelTigo Money.