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Microfinance
            
   

The idea of the Microfinance unit was buoyed by the need to complement government’s efforts in the economic empowerment of its citizens, through the granting of microfinance loans and professional financial assistance to the small and medium scale entrepreneurs. Therefore, in line with the government’s objective for the Microfinance Banking Industry, the main beneficiaries of our services are the financially disadvantaged but active entrepreneurs:  Our products and services include:

    b  Riggs Bronze Savings Account:  
This account type is designed for all potential RIGGS clientele. It is a savings account which enables all our customers to imbibe and cultivate the savings culture.  
   
    b  Riggs Silver Target Savings Account  
This account type is designed for individuals who have a desire to cultivate savings towards a targeted purpose. It is a hybrid account which combines some features of a current account and benefits of a savings account.  
   
    b   Riggs Gold Account:  
This account type is targeted at individuals, small business owners (SBO’s) and groups to help assist in meeting their financial needs and services.  
   
    b   Riggs Platinum Club Account:
This account type is essentially a Deposit/Investment Account. It is for accumulating and channelling funds of High Networth Individuals, Co-operative Societies, Associations, State & Local – Governments, Unions, etc. It is primarily an investment account designed to mobilize savings/contributions from well-meaning and well-to-do individuals and groups in the society for on-lending to the less privileged members of the society at concessionary rates. A veritable vehicle for intermediating between the “haves” and the “not-so-fortunate” members of the society.
   
    b   Riggs Children’s Education/Savings Scheme:    
This account type will enable parents to save/invest towards the future of their children/wards, whether for educational purposes or future contingencies.  
   
     b   Riggs Targeted Savings Scheme:  
This account type is targeted at individuals/business owners who have the desire to save towards achieving their business/personal goals for specific purposes.  
   
LoanProducts  
   
      b  Individual Loan Product  
      b  Group Load Product  
      b  Bridging Loan Product  
      b  Windows Loan Scheme  
      b  Market Men/Women “E Don Better” Scheme  
      b  My “Fresh Idea” Loan Scheme