Tuesday, November 29, 2011


In line with its tradition of providing customers with innovative lifestyle changing products, leading customer-centric bank, Diamond Bank Plc has announced the launch of a high interest yielding savings account called the Diamond Bonus Savings Account.
In a press statement released by the Bank, Senior Advisor, Retail Banking, Garry Marsh, revealed that the Diamond Bonus Savings Account is designed for individuals desiring higher interest earnings on their accumulated savings.  Targeted at individuals who are looking for a high regular income on their savings, but with the flexibility to move funds whenever they wish, the account offers customers an annual interest yield of 5%, payable monthly, plus a quarterly bonus of 100% on interest earned if no withdrawal is made in  the quarter. The minimum balance requirement is N500,000.

According to Garry Marsh, “We are not aware of any other bank offering anything close to 10% on their savings accounts, but that is exactly what Diamond Bonus Savings account offers. We think it is the best deal in the industry by any measure and the account operates absolutely free of any charges”,

“Diamond Bonus Savings account is available to existing and prospective customers of the bank with a minimum opening balance of N500,000. Customers will earn the guaranteed 5% annual interest payable every month when they maintain a minimum balance of N500,000, while the bonus interest of 100% is awarded when no  withdrawals are made in a quarter. Customers who simply leave their money in the account untouched will earn almost 11% on a compounded basis as interest and bonus continues to be added,” adds Garry Marsh. 

“Diamond Bonus Savings account holders enjoy much more than high interest though as they also have the luxury of accessing their funds through our various electronic channels like Diamond Online, Diamond Mobile and Diamond Telephone Banking Services. They can equally make withdrawals over the counter at any of our 220 branches across the country, provided the minimum balance of N500,000 is maintained,” said Garry Marsh.

Diamond Bonus Savings Account becomes the latest addition to the rich bouquet of savings accounts currently offered by Diamond Bank. Amongst these accounts are the Diamond Kiddies Account, targeted at children below 18 years, Diamond SavingsXtra Account, for those who want to enjoy all the benefits of a savings account plus a chance to win over N600 million in rewards; and Diamond High Interest Deposit account, targeted at individuals with at least N100,000 desiring competitive interests on their savings. “Our savings accounts are tailor-made to suit diverse market segments and with as little as N5,000, individuals can start a banking relationship with us, banking for free, with access to the excellent service delivery for which we are known,” concludes Garry Marsh.


As part of its effort to foster a savings culture amongst Nigerians, Diamond Bank Plc last week gave away N50m in cash prizes to 45 lucky customers who emerged winners in the October 2011 draw of the Bank’s SavingsXtra Rewards Scheme. 

In a statement by the Bank, Head, Propositions and Liabilities Group, Chidinma Lawanson confirmed that the 45 lucky customers won various cash prizes ranging from N250,000 to N24m, including a star prize of Salary 4Life won by  Adeoye Alli of the Ashabi Cole, Alausa branch, which entitles him to a monthly income of  N100,000 per month for the next 20 years. 

The rewards scheme, currently in its fourth season, was introduced over three years ago (in June 2008), with the intention of encouraging a savings culture and as an opportunity to reward customers for their loyalty.  To stand a chance of winning in the rewards, customers are required to save at least N5,000 in a SavingsXtra account. New customers will be required to open a SavingsXtra account and maintain a minimum balance of N5,000 until the qualifying date for the draw which is the 28th of every month.

It will be recalled that Diamond Bank paid an unprecedented sum of N50m to Mr. James Umaru Mbugadu, a civil servant and Lafia, Doma Road customer in January 2009, thus making him the first recipient of such a large amount in any customer reward scheme in Nigeria. Miss Habiba, a 23 year old then 100 level undergraduate of the University of Maiduguri, Borno state was to follow in July 2009 as she also won N50m in the first phase of the campaign. She is a Shehu Laminu Way branch customer of Diamond Bank.

Speaking further, Mrs. Lawanson stated that “we gave away N200 million in prizes in Season 1 (June 2008 to July 2009); N400 million worth of prizes in Season 2 (September 2009 to August 2010), N500 million in Season 3 (September 2010 to August 2011) and we will be giving away N605.5m in Season 4 which kicked off in September 2011 and lasts till August 2012.

The reward system expresses Diamond Bank’s commitment to enhancing the life style of its customers and the Bank’s resolve to rewarding customer loyalty. The Bank has consistently rolled out creative and innovative products and services with positive effects on customer experience. The Diamond SavingsXtra account is designed for individuals who want to build up their savings gradually. It is an interest-yielding savings account, which allows the deposit of both cash and third party cheques. In addition, cash can be withdrawn from an ATM and over the counter using a cheque from any Diamond Bank branch.