Savings Guigelines

ELITE-NET (EN) MEMBERSHIP TERMS AND GUIDELINES ON SAVINGS

1. Membership Eligibility: Anyone can join the EliteNet Cooperative Society at any time. However, VIP Membership requires premium registration.

2. Virtual Savings Bank Account: Upon registration, each member will need to contact Admin to receive a dedicated virtual target bank account from our partner banks. This account will be used for savings deposits, and you'll receive instant payment alerts via email and WhatsApp.

3. Flexible Savings: Save daily, weekly, monthly, or at your preferred frequency (minimum deposit of N200). There are no penalties for missed or forgotten savings.

4. Target Categories: Select a savings target during registration (e.g., 3, 6, 9, or 12 months). Your savings will be locked for the set duration starting from your savings commencement date.

5. Withdrawals: A single withdrawal charge of N300 or 3% (whichever is higher) applies. If you withdraw locked target savings before the due date, a 14% default charge will be applied. Withdrawal requests will be processed within 48 hours of approval.

6. No Hidden Charges: There are no additional charges on savings.

7. Fixed Savings Interest: Earn up to 30% interest p.a. on fixed savings. See details.

8. Membership Loans: EN VIP members are eligible for emergency loans based on considerations. Sign up here.

9. Transparency and Credibility: We are a trusted distance and open savings forum with a history of fairness, trust, and accountability.

10. Contact Us: Register online or contact us to create your savings bank account number for clear record-keeping.