These products provide customers with the opportunity to save up to invest, to buy that very special item for your loved ones or just to generate interest on your savings whatever your desire is, we have an array of savings products to assist you on this special project. From zero COTs to competitive interest rates, save with us today and earn with a difference tomorrow.
 
Skye Rainbow 
Skye Rainbow account is a children’s savings account. It is designed with special features that benefit parents seeking to save for their children’s education and other needs. It is a fabulous way to get children saving.
 
Features 

• Opening balance of N5000.
• Special interest rate of 1% above savings.
• Withdrawals allowed once a month
• Discount on drafts for school fees.

Skye Select

• Minimum N100,000.00 balance
• No COT
• Private banking services

Skye Wise - Save and Earn

• No COT
• 3% interest per annum
• Third party Cheque book*

These are specialized consumer products that are designed to give you access to cash based on a saving agreement and pre approved limits on your account with us. So for instance you want to buy a home appliance or a new car or even just extra cash to hold until pay day, choose from one of our specially researched products to make sure that the process is worry free…
 
Skye Auto Lease
Auto Lease Service Guarantee

• Minimum N100,000.00 balance
• No COT
• Private banking services
• Minimal equity contribution
• Online application facility
• No collateral
• Brand new cars
• Convenient monthly payments
• Auto Tracking facility for high valued vehicles
• Insurance on personal Accident
• Provision of replacement vehicle during repairs of accidental vehicle
• 48hours response time
• Flexible tenor of up to 60 (Sixty) months.

Am I Eligible?

• Applicants to be considered will be in the middle to high-income group earning at least N1m annually net of taxes.
• Facility is available only to confirmed staff for employed individuals
• There must be insurance (comprehensive) cover for all vehicles noting Skye Bank as the first loss payee.
• Monthly repayments must not exceed 33.33% of applicant’s net salary. (clause)
• It cannot be used to finance the acquisition of vehicles intended for commercial use.
• It is only accessible by private individuals.
• When a small business is applying, amount must not exceed 25% of prior year’s turnover, as deducible from verified bank statements presented by the business.
• Applicants must have been confirmed in their present place of employment, hence should have spent at least six months in their present employment
• Calculated loan repayment plus interest must not exceed 33.33% of applicant’s monthly salary net of taxes.
• Applicants should be able to accommodate repayment of the loan from their normal cash flow within the agreed tenor.

 
Skye Lifestyle
20% Equity Contribution

• Interest rate on equity
• Available to confirmed staff only.
• 6-36 months tenor period.
• Comprehensive Insurance cover for all assets noting Skye Bank as the first loss payee.
• Borrow between N100,000-N5,000,000
• N150,000 minimum monthly Income
• Monthly repayments must not exceed 331/3% of customer’s net salary.

 
Skye Educare
Features

• Access to loans for undergraduate and postgraduate education abroad.
• Access to loans for education in private universities
• Access to loans for select secondary within the country
• Convenient repayment plans.
• Option of life insurance cover for sponsors of the child.
• Affiliation with LGE for university placement abroad.
• 22% interest rate*

Steps to Follow

• Open a Skye Edu-care account
• Build up account up to a minimum of 30% of total school fees
• Savings period could be up to three years or more.*
• Withdrawals allowed on the account.
• Employees with terminal benefits need no security, others to provide security.
• Minimum qualifying period involves saving for at least a month OR must have maintained an active account with a bank for a minimum of 6 months
• 15 months moratorium available for self sponsored students to enable them finish up school and get settled back at work.

Am I Eligible?
 
1. Undergraduate Studies

• 30% equity contribution
• Minimum saving period of one month OR must have maintained an active account with another bank for a minimum of 6 months.
• Earn a minimum of N8 million per year. *
• Has complete KYC documentations in line with KYC policy in the Bank
• Hold an active bank account in any Nigerian Bank for at least six months
• Applicants must be willing to pledge their terminal benefits as collateral.
• Business owners must pledge shares or landed property to cover the value of the facility. A minimum of 150% coverage
• Pass the screening tests for Visa counseling at LGE.
• Applicant must provide one (or two) acceptable referees
• Letter from employer confirming the applicant as an employee of the organization.
• Evidence of business ownership must be in place for self employed
• Provision of down payment for school fees.

*The expected minimum wage of N8million is configured based on the following:

• A budgeted loan of N2million requires that the applicant should not borrow more than two thirds of his package.
• Therefore, expected income is about N6million
• Since the client is expected to contribute about N1.8million, therefore an additional fund of N2million should be at his disposal.
• It is suggested that the combined earnings of the wife and husband be considered for this purpose.

2. Postgraduate Studies (Sponsored by Parents and Guardians)

• Repayment period is between 3-36 months
• All other requirements as stated above

3. Postgraduate Studies (Self-Sponsored / Part-time)

• Income level of not less than N4.0M per annum
• Evidence of income earned
• Must be an employee of a reputable organization.
• Structured repayment plan
• Suitable guarantors for loans
• Submission of shares, landed property and other acceptable security as deemed fit by the bank.
• KYC would be conducted to establish knowledge and integrity of the guardian.
• Repayment period is between 3-36 months