How To Earn 10% Interest On Your Savings

July 11, 2017

You probably already know we’ll give you a better deal on your savings than you can get anywhere else — 10% interest per year, precisely. But what you may not know is how this works. Let’s break it down.

Here’s what we will not do:

  1. Pay you 10% interest immediately you move money to your account.
  2. Pay you 10% interest daily, weekly or monthly.
  3. Pay you 10% interest right after you sign up.
  4. Pay you 10% interest just because you asked nicely.

We had to make that clear because, believe it or not, some people have made similar assumptions.

Let’s skip to the fun part. Here’s what we will absolutely do:

Pay you up to 10% interest on your goal savings. No kidding.

Remember this though: The interest you’ll earn is dependent on the duration of your goal.

So, for example, if you’re saving toward a goal for twelve months, you’ll get paid 10% in full when you meet that goal.

Q: “But what if I stop saving before I meet my goal?”

A: That’s fine, your interest will be calculated based on how long you saved for as long as you don’t delete your goal.

And if your goal duration is shorter than twelve months, your interest will also be calculated based on the duration you saved for.

Got it? Great!

Now, click the Goals option on the ALAT menu to grow your money.

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Comments
  • Ibli Hilary-gene Unimke

    This is really awesome. ALAT wher have you been all my life?! I’ll recommend this to whomever I can. It’s really a great way to save and so thanks the ALAT team!!!

    July 18, 2017
    • admin

      We love you, Ibli!

      August 23, 2017
  • Ndubuisi Ajidue

    I got to hear about Alat through the social media since then i just transferred all my money from different banks into my Alat account. This is what banking should look like, its stress-free, interest are paid rapidly and as when due. KUDOS to Wema Bank..i will recommend Alat for everyone who truly wants to save.

    July 24, 2017
    • admin

      Thank you, Ndubuisi. You’re the man!

      August 23, 2017
  • Maristchibuike

    Is not at all wonderful. Almost the same with other banks or even no good compare it others. Just that you set and control it yourself with ease termed GOAL
    For it to be unique, it should be calculated on bases of 10% per month

    July 24, 2017
    • admin

      Our 10% interest rate is, by far, the highest you can currently get with a savings account in Nigeria. We wish we could offer 10% interest per month, but that won’t be fair to us either.

      August 23, 2017
  • OLANIGBA Ayo

    Dear Sir/Ma,
    please, why my savings was unsuccessful on: FOR AYO LEISURE goal?
    – Why do I need to be saving money daily, weekly, monthly why having bulk money now to save it for long time?
    – When 10% interest we be paying when move money to His/Her account?
    Thanks while anticipated for your good response.

    July 25, 2017
  • Olaoluwa ogunbowale

    Yeah yeah. ALAT, my handy bank for real

    July 26, 2017
  • Egbe Akpomena Yawbaffor

    How it work pls

    August 9, 2017
  • SamBare

    Can I save once? Say a million naira and the end of the year get my capital and interest assuming I only want to save for 12 months.

    August 9, 2017
    • admin

      Yes, you can.

      August 23, 2017
  • Okoye simon eze

    Pls help activate my account it will be great for me if u do that ..cause I have carried out all necessary requirements for almost 2months now account is still not activated.. I want to set goal but the app is not allowing me cause of that. Pls help so that I can refer my friends.
    AND., if it takes this long to activate account , do you think people will refer people!? No..because it will frustrate them .thanks

    August 12, 2017
    • admin

      Hi, Eze. We’re so sorry for the delay. Has your account been activated? If it hasn’t, please send a short email to help@alat.ng and it’ll be done.

      August 23, 2017
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