Home       Login        Register        About Us


COCOSAVE: - We have the following products under the Savings category

  • Regular savings

  • Fixed deposit

  • Target savings

Savings culture is a fundamental principle and the foundation of every cooperative which has also been proven to be the bedrock of wealth creation. The following are some of our savings products

  • REGULAR SAVINGS: This is a stipulated compulsory fundamental cooperative activity. A compulsory regular minimum monthly contribution of NGN2,000.00 (no maximum) is expected to be made by each member of which a portion of it goes to savings while another is to shareholding.

There can be no withdrawal from a regular savings account in the first six (6) months. Twenty (20%) percent of every savings deposit is kept aside as member’s dividend contribution for dividend sharing at every year end, and another five (5%) as monthly admin fee (minimum of NGN1,000. This 20% is the minimum amount as a member can ask for it to be increased to a maximum of 95%. Only a maximum of 85% can be withdrawn as from the 7th month of contribution. You can have the dividend sum increased to any percentage of your contribution as you chose (not mandatory). Interest on savings 5% per annum and is not paid in any month withdrawal is made.

  • FIXED DEPOSIT: This product is also a savings product where you save a fixed sum which is usually a bulk sum of a minimum of NGN100,000 for a minimum period of 90 days.


  • ninety days minimum tenor

  • One hundred thousand naira (100,000.00) is the minimum fixed deposit amount

  • No maximum amount

  • The sum can be used as collateral for bank loans (at a small fee)

  • The sum can be used as guarantee for business transactions (at a small fee)

  • Our interest rate is a minimum of 10% per anum depending on sum invested and tenor.


  • Our fixed deposit rate is much higher than the general prevailing banking rate at 10% per annum.

  • You are not charged withholding tax on your interest thereby increasing your returns.

  • The sum can be used as collateral for bank loans (at a small fee)

  • The sum can be used as guarantee for business transactions (at a small fee)

  • No admin fee charged.


  • Members/Associate of Coinbox Cooperative Multipurpose Society Limited

  • Staff of an organization/ Member of an existing group

  • Non-members of Coinbox Cooperative Multipurpose Society Limited (less 2% of interest rate).

Please note the following

  • You lose your interest payment if you break your deposit before maturity

  • Fixed deposit sums are savings but does not constitute product for dividend payment, therefore such sums will not be considered during sharing of dividends. It also does not make you a member unless you register accordingly.

  • You can fix your savings and increase regularly (at every cycle) pending when you can upgrade to MEMBERSHIP OF COCOCLUB status if you chose to.


  • Members/non-members are to fill the fixed deposit form

  • Submit with their payments

  • Sum is fixed and deposit certificates issued.