Financial products

• A loan is money you borrow — but you must pay it back with extra (called interest).
• Loans can help with emergencies or big goals — like starting a business or fixing your house.
• You must repay in small parts (called installments), usually monthly.
• Always check the interest rate and repayment plan before agreeing.

👉 A loan can help — or trap you. Read before you sign.

• A debit card lets you spend money already in your account — no borrowing.
• You can use it to withdraw cash, shop in stores, or pay online.
• Never share your PIN — not even with a “bank worker” on the phone.
• If your card is lost or stolen, block it fast using your bank’s contact line or app.

👉 A debit card is powerful — but only if you protect it like your cash.

• Your credit report shows how you handle loans and bills.
• Banks and lenders check it before approving credit.
• You can check yours at CRC or FirstCentral — free once a year.
• Fix mistakes fast — wrong info can block your next loan.
  

👉 Knowing your credit report protects your future.

• What Are Microloans?: Small loans designed to help individuals start or grow a business.​
• Benefits: Accessible, minimal requirements, and can boost your income.​
• Caution: Ensure you can repay to avoid debt traps.

• A fixed rate stays the same — your monthly payments never change.
• A variable rate can go up or down — today it’s low, tomorrow it might rise.
• Example: It’s like buying rice — a fixed price means ₦1,000 every time, but a variable price means sometimes ₦800, sometimes ₦1,300 — you can’t plan your wallet!

• Mobile money lets you send, receive, and store money using your phone – no need to risk carrying cash like a bank robber.
• Safer than cash – unless you share your PIN with everyone, then… good luck.
• Always avoid scams – if someone promises you 10x your money, it’s a lie. If they call themselves “Prince” and need your help, it’s a scam.
• Check your transaction history from time to time

• A savings account keeps your money safe – because hiding cash under your mattress is NOT a security plan.
• Helps you build an emergency fund – life is unpredictable, like WiFi in the rain.
• The more you save, the better your future – today’s sacrifices = tomorrow’s financial freedom

• A loan is money you borrow, but unlike your friend’s borrowed t-shirt, you must return it with extra (interest).
• Always check the repayment terms – some loans are so tricky, you could end up paying back double.
• A bad loan can trap you for years – read the fine print, or it might read your bank account dry!