You can save as many times as you want. However, if you saved multiple times in the course of a day, your balance will be merged into one. Subsequent saving attempts on other days will be treated differently.
What this means is that if you save N1.000 x 5 times on Day 1, it is merged into one transaction as N5000 and the 7% interest begins to accrue on it for 365 days, however, if you save another N2,000 on Day 2, it will be treated as a separate transaction and the same 7% interest begins to accrue on it for 365 days, however, the maturity dates for both investments will be different.
Was this article helpful?
That’s Great!
Thank you for your feedback
Sorry! We couldn't be helpful
Thank you for your feedback
Feedback sent
We appreciate your effort and will try to fix the article