SME Banking
Tailor-made Solutions
We have designed advanced solution to improve your business growth and productivity.
Let us work together to manage your assets and sustain your organization
Bank Accounts
E-Business Solutions
Investments
Loans
Bank Accounts
Bank Accounts
Our bank accounts include elements to support the expansion of your business. Our concern is for your business’s success and sustainability while also increasing profitability.
Corporate Current
Features and Benefits
- Allows lodgements of dividend warrants & cheques
- Allows third-party withdrawals
- Cheque book available on request
- Account maintenance fee at N1 per mille
- SMS and email alerts
- Easy monitoring of your account activities at your convenience anywhere
- Access to loans at competitive rateÂ
Requirements
- Board resolution to open account.
- One recent passport photograph of each signatory.
- Proof of Address (Utility Bill, Rent Receipt, Tenancy Agreement, etc.) of the company.
- BVN of each signatory to the Account.
- BVN of all the Directors.
- Certified True Copy of Certificate of Incorporation/ Business Registration.
- Certified True Copy of Memorandum and Article of Association.
- Certified True Copy of form C07/CAC7 (particulars of Directors) and C02/CAC2 (Allotment of stares).
- Two reference forms.
- Residence permit issued by the immigration Authorities (Expatriates).
- Valid means of identification of all signatories.
- Valid means of identification of all Directors and Shareholders with shares above 5%.
- Letter of authority to conduct search on the company.
- Evidence of Registration with Special Control Unit on Money Laundering (SCUML) for all Designated Non- Financial Businesses and Professionals (DNFBP)- Where applicable.
- Tax Identification Number (TIN).
Partnership Accounts
Features and Benefits
- Allows lodgements of dividend warrants & cheques
- Allows third-party withdrawals
- Cheque book available on request
- Account maintenance fee at N1 per mille
- SMS and email alerts
- Easy monitoring of your account activities at your convenience anywhere
- Access to loans at competitive rateÂ
Requirements
- One recent passport photograph of each signatory.
- Two corporate reference forms.
- BVN of the signatories.
- Copy of certificate of registration of Business Name.
- Mandate from Partnership authorizing opening of account.
- Copy of the form containing particulars of partners.
- Valid means of Identification of partners.
- Proof of Address (Utility Bill, Rent Receipt, Tenancy Agreement, Voter’s Card etc).
- Residence permit issued by Immigration Authorities (Expatriates)
- Copy of Partnership Deed (where applicable).
- Membership certificate of professional body (If any).
- Letter of authority to conduct search on the partner
- Evidence of Registration with Special Control Unit on Money Laundering (SCUML) for all Designated Non- financial Businesses and Professionals (DNFBP)- Where applicable.
Sole Proprietorship / Enterprise Account
Features and Benefits
- Allows lodgements of dividend warrants & cheques
- Allows third-party withdrawals
- Cheque book available on request
- Account maintenance fee at N1 per mille
- SMS and email alerts
- Easy monitoring of your account activities at your convenience anywhere
- Access to loans at competitive rateÂ
Requirements
- One recent passport photograph of each signatory.
- Two corporate reference forms.
- BVN of the signatories.
- Copy of certificate of registration of Business Name.
- Copy of forms for application for registration of Business Name.
- Valid means of Identification of the signatories.
- Proof of Address (Utility Bill, Rent Receipt, Tenancy Agreement, Voter’s Card etc).
- Residence permit issued by Immigration Authorities (Expatriates).
- Membership certificate of professional body (If any).
- Letter of authority to conduct search on the business.
- Evidence of Registration with Special Control Unit on Money Laundering (SCUML) for all Designated Non- financial Businesses and Professionals (DNFBP)- Where applicable.
Non-Governmental
Organisations Account (NGOs)
Features and Benefits
- Allows lodgements of dividend warrants & cheques
- Allows third-party withdrawals
- Cheque book available on request
- Account maintenance fee at N1 per mille
- SMS and email alerts
- Easy monitoring of your account activities at your convenience anywhere
- Access to loans at competitive rateÂ
Requirements
- Two corporate reference forms.
- BVN of the signatories.
- Proof of Address (Utility Bill, Rent Receipt, Tenancy Agreement, Voter’s Card etc).
- Copy of certificate of registration.
- Copy of constitution/bye laws.
- Valid means of Identification of signatories.
- Resolution of Board of Trustees authorizing the opening of the account and appointing signatories.​
- Address verification shall be carried out on such accounts in line with KYC/KYCB.
- Letter of authority to conduct search on the business name.
- Evidence of Registration with Special Control Unit on Money Laundering (SCUML) for all Designated Non- financial Businesses and Professionals (DNFBP)- Where applicable.
Associations, Societies and
Clubs​
Features and Benefits
- Allows lodgements of dividend warrants & cheques
- Allows third-party withdrawals
- Cheque book available on request
- Account maintenance fee at N1 per mille
- SMS and email alerts
- Easy monitoring of your account activities at your convenience anywhere
- Access to loans at competitive rateÂ
Requirements
- Two reference forms.
- One recent passport photograph.
- Means of identification of signatories.
- BVN of the signatory.
- Copy of the constitution/Bye laws
- Resolution signed by President/Chairman and Secretary to open account with Premium trust Bank / Copy of recently adopted minutes of meeting.
- Resident permit issued by the Immigration Authorities (Expatriates).
- Letter of Resolution by the Board of Trustees to open account or
- Proof of Address (Utility Bill, Rent Receipt, Tenancy Agreement, Voter’s Card, etc).
- Letter of authority to conduct search on the company if registered with CAC
E-Business Solutions
E-Business Solutions
Transaction banking products offer a secured medium for receivables and payments management.Â
Corporates, SMEs, individuals, agents, Fintechs and other financial institutions can leverage on any of the channels to manage collections, make payments, ease reconciliation, block leakages and maximize revenue.
Corporate Internet Banking
Our Internet Banking Solution is a one-stop shop for all corporate clients. It serves as the main point of Interaction for performing banking transactions for all Corporates.
Features
- View Real Time Account Balances for All Accounts.
- View Transaction History, monitor inflow and Outflow.
- Download Account Statement and Transaction Receipt.
- Make Transfers to PremiumTrust Bank and Other Bank Accounts (through NIBSS Instant payment (NIP) or NIBSS Electronic Funds Transfer (NEFT)) in Local and Foreign Currencies.
- Bulk Upload Transfers for Salary and Vendor Payments – All modes of bulk payment can be processed i.e., Single debit and credit to multiple beneficiaries, Single debit and credit single beneficiary, Multiple debits and credit to a single beneficiary, Multiple debits and credit to multiple beneficiaries.
- Aggregate multiple accounts in one profile – consolidate all accounts and related accounts under a single view.
- Make Bills Payment.
- Taxes and Levies – Custom Duty, LASG, FIRS Tax Payment, etc.
- Vendor and Liquidity Management.
- Audit Trail for all transactions – Complete monitoring of all activities on the platform.
- Recurring Payments – Set up automatic processing of transactions at a scheduled date and time without manual intervention.
Benefits
- Designed to serve all businesses within the Commercial Banking, Corporate Banking, and Institutional Banking sectors.
- Caters for diverse business workflows and mandate set up.
- It offers flexibility in account and limit management. Customers can easily define their users, set different permission matrixes, and route transactions to a defined user based on transaction amount.
Requirements
- Open a corporate account.
- Visit any branch to fill the on-boarding forms.
- Customer starts to process transactions
Or send an email to e-Business@premiumtrustbank.com
Multi-bank Collection Solution
Our multi-bank collection platforms enable corporate, commercial and public sector clients accept payments from their customers/taxpayers via all commercial bank branches.Â
Features
- Payments by Corporates/Government Parastatals revenue payers can be made through any Bank Branch
- Biller notification via a login portal; SMS & E-mail or a direct integration to the biller’s system.
- Instant value to Customer’s Account
- Seamless payments from any bank in Nigeria real time via the bank’s branch greater coverage and reach.
- No limit to the transaction amount that can be collected.
- Online Real-Time transaction reporting.
- Captures unique identifier(s) for reconciliation of invoice related transactions
- Blocks leakages and provides visibility
Benefits
- No upfront/onboarding fees
- Multiple payment channels available
- Availability of a reporting tool for business intelligence and information gathering.
- Ability to Integrate to third party system.
- Instant Payment from any Bank Branch.
- Ease of Reconciliation
Requirements
- Open a corporate account.
- Visit any branch to fill the on-boarding forms.
- Customer starts to process transactions
Or send an email to e-Business@premiumtrustbank.com
Virtual Acceptance Services
Virtual acceptance services enable businesses, fintechs and Other Financial Institutions (OFIs) facilitate collections without physical interaction with a payment channel.​
Features
Under virtual acceptance, we have the following products
Virtual Accounts
PremiumTrust Virtual Account service will enable businesses, fintechs & OFIs accept payments via transfers to NUBAN compliant virtual accounts.
Quick Response (QR) Code.
It is a secure QR collections platform designed for merchants to receive payments by scanning a QR code encoded with merchant’s details.
Payment Gateway
- Enables customers accept payment online.
- Has different payment modes (Cards, USSD, Transfers, QR)
- Payment links via social media handles.
Settlement Services
- We offer settlement banking services for fintechs and OFIs who are required (by CBN regulation) to settle electronic transactions through a commercial bank.
Benefits
- Availability to accept payments without physical contact
- Ease of Reconciliation
- Cost effective
- Convenient
- Available 24/7
Requirements
- Open a corporate account.
- Visit any branch to fill the on-boarding forms.
- Customer starts to process transactions
Or send an email to e-Business@premiumtrustbank.com
POS
Point of Sale (POS) terminals facilitate the payment and receipt of money using credit/debit cards at the point of sale.
Features
Our POS terminals allow real-time debit of customers’ cards used for transactions at merchant location. The merchant account is credited with corresponding debit at settlement.
Benefits
- Increase in sales as merchants have access to accept card and cash payments
- Reduces cost of personnel and equipment for handling cash
- Reduces exposure to loss due to armed robbery & pilfering by employees
- PremiumTrust Bank deploys its terminals at no cost to our customers
Requirements
Open a current account with PremiumTrust Bank
Agency Banking
We are redefining financial inclusion by enabling access to premium and accessible financial services through simplicity, convenience, ease of accessibility, and affordability.
Features
As a PremiumTrust Agent, you are a community banker representing the Bank to provide the following financial Inclusion services
- Instant account opening
- Card withdrawals
- Deposit and Transfer
- Airtime and data top-up
- Cable TV Subscription
- Electricity Bills
- Balance Inquiry
- BVN Enrolment
Benefits
- Instant Account Opening
- Instant Settlement and Charge Back
- Low transaction Fee
- Cardless Withdrawal
- 24hrs Agent Support Channels
- High Commission on account opening
Requirements
- Open a Current or Savings Account
- Minimum working capital
- CAC certificate for a registered business
- Valid means of identification (International Passport, Driver’s License, National ID, Voter’s Card)
- CAC certificate for a registered business.
- Proof of Address (Utility Bill, Rent Receipt, Tenancy Agreement, Voter’s Card, etc.)
Investments
Investments
We deliver a range of investment solutions for you that would enable you grow your wealth and plan appropriately for the future. Welcome to a world of splendour.
Money Market
Fixed Deposit
Fixed Deposit provides you with low-risk investments at
competitive yields.
Repurchase Transaction(REPO)
Repurchase Transaction(REPO) avails you the opportunity
to sell your securities to access liquidity for a short period
of time and repurchase at a later date.
Structured or Asset Backed Notes
Structured or Asset Backed Notes with value derived from
other asset/debt is an investment option of moderated
risk and slightly enhanced yield compared to fixed deposit.
Fixed Income
Treasury Bills
A treasury bill is a short-term government issued instrument
with no risk, competitive yield and tax considerations.
Commercial paper
A commercial paper is an unsecured short-term debt
instrument issued by corporations, which yields slightly
higher than Treasury bills due to increased risk.
Bonds – Govt bonds, Corporate Bonds
A bond is a debt instrument with longer tenor than Treasury bills,
typically issued by government and corporations.
Eurobonds
This provides you with the opportunity to invest in bonds
denominated in foreign currencies, FX earnings and
foreign exchange hedge.
Foreign Exchange
SPOT (PTA, SMEfx, SMIS, IEW etc)
Spot (PTA, SMEfx, SMIS, IEW etc) provides you access to the
foreign exchange market, thereby giving you liquidity to
cover your trade obligations across.
Forwards
This is the sale/purchase of foreign exchange at an agreed
rate for future date delivery. This helps you to hedge
future FX exposures.
Swaps
This provides you the opportunity to exchange one
currency for another for a period of time, with the initial
currencies swapped at a later date e.g currency swap, interest rate swap
NDF/Other Derivatives
It’s a hedge instrument, which provides the client with
some protection against potential FX variation. Other
derivatives include options, futures.
Rate Guide
NGN
USD
NGN
30 days
60 days
90 days
180 days
365 days
Call
30 days
|
INVESTMENT RANGE (₦)
|
RATE (%)
|
|---|---|
|
Up to 9,999,999.99
|
4.00%
|
|
10,000,000.00 – 49,999,999.99
|
4.50%
|
|
50,000,000.00 – 499,999,999.99
|
5.50%
|
|
500,000,000.00 and above
|
6.00%
|
60 days
|
INVESTMENT RANGE (₦)
|
RATE (%)
|
|---|---|
|
Up to 9,999,999.99
|
5.00%
|
|
10,000,000.00 – 49,999,999.99
|
6.50%
|
|
50,000,000.00 – 499,999,999.99
|
6.50%
|
|
500,000,000.00 and above
|
7.00%
|
90 days
|
INVESTMENT RANGE (₦)
|
RATE (%)
|
|---|---|
|
Up to 9,999,999.99
|
6.00%
|
|
10,000,000.00 – 49,999,999.99
|
7.00%
|
|
50,000,000.00 – 499,999,999.99
|
7.50%
|
|
500,000,000.00 and above
|
7.75%
|
180 days
|
INVESTMENT RANGE (₦)
|
RATE (%)
|
|---|---|
|
Up to 9,999,999.99
|
7.00%
|
|
10,000,000.00 – 49,999,999.99
|
8.00%
|
|
50,000,000.00 – 499,999,999.99
|
8.50%
|
|
500,000,000.00 and above
|
8.75%
|
365 days
|
INVESTMENT RANGE (₦)
|
RATE (%)
|
|---|---|
|
Up to 9,999,999.99
|
9.00%
|
|
10,000,000.00 – 49,999,999.99
|
10.00%
|
|
50,000,000.00 – 499,999,999.99
|
11.50%
|
|
500,000,000.00 and above
|
12.00%
|
Call
|
INVESTMENT RANGE (₦)
|
RATE (%)
|
|---|---|
|
Up to 9,999,999.99
|
1.00%
|
|
10,000,000.00 – 49,999,999.99
|
1.50%
|
|
50,000,000.00 – 499,999,999.99
|
1.50%
|
|
500,000,000.00 and above
|
2.00%
|
USD
30 days
60 days
90 days
180 days
365 days
30 days
|
INVESTMENT RANGE ($)
|
RATE (%)
|
|---|---|
|
10,000.00 – 99,999.99
|
1.25%
|
|
100,000.00 – 999,999.99
|
1.50%
|
|
1,000,000.00 – 49,999,999.99
|
2.50%
|
|
50,000,000.00 – 100,000,000.00
|
3.00%
|
60 days
|
INVESTMENT RANGE ($)
|
RATE (%)
|
|---|---|
|
10,000.00 – 99,999.99
|
1.50%
|
|
100,000.00 – 999,999.99
|
2.00%
|
|
1,000,000.00 – 49,999,999.99
|
3.00%
|
|
50,000,000.00 – 100,000,000.00
|
3.25%
|
90 days
|
INVESTMENT RANGE ($)
|
RATE (%)
|
|---|---|
|
10,000.00 – 99,999.99
|
2.00%
|
|
100,000.00 – 999,999.99
|
2.50%
|
|
1,000,000.00 – 49,999,999.99
|
3.25%
|
|
50,000,000.00 – 100,000,000.00
|
3.50%
|
180 days
|
INVESTMENT RANGE ($)
|
RATE (%)
|
|---|---|
|
10,000.00 – 99,999.99
|
2.50%
|
|
100,000.00 – 999,999.99
|
2.75%
|
|
1,000,000.00 – 49,999,999.99
|
3.50%
|
|
50,000,000.00 – 100,000,000.00
|
4.00%
|
365 days
|
INVESTMENT RANGE ($)
|
RATE (%)
|
|---|---|
|
10,000.00 – 99,999.99
|
2.75%
|
|
100,000.00 – 999,999.99
|
3.00%
|
|
1,000,000.00 – 49,999,999.99
|
3.75%
|
|
50,000,000.00 – 100,000,000.00
|
4.25%
|
Loans
Loans
Our loan products are carefully designed with you in mind. From application to disbursement, we ensure that you have a quick and seamless experience.
Our products include overdrafts, term loans, invoice discounting, advance payment guarantees and lease finance.
Overdraft
Features and Benefits
- Allows you to borrow using your current account
- Useful as a back-up to help you deal with short term, unexpected
costs - Handles timing mismatch of flow of funds
- Helps in keeping good track record
- Timely payments.
- Less paperwork
Requirements
- Request letter
- 12-month bank statement
- Audited financials
- Turnover covenant.
- Collateral
- 3 clean credit reports
Term loan
Features and Benefits
- Offers fixed interest rates
- Flexible payback terms, with the option to repay in monthly,
quarterly, or semi-annual instalments - Allows operational cash flow to be used elsewhere
- Preserves shareholder equity
- Receiving a term loan and making payments on time boosts credit score
Requirements
- Request letter
- 12-month bank statement
- Agreements/invoices (where-applicable)
- Audited financials
- Turnover covenant
- Collateral
- 3 clean credit reports
Invoice discounting
Features and Benefits
- Quick cash.
- Releases locked cash.
- Reduced collection period.
- Improves cash flow.
- No asset as collateral.
- Allows more room for credit sales.
Requirements
- Request letter
- 12-month bank statement
- Invoice to be discounted
- Pedigree of the counter party whose payment risk is being taken.
- 3 clean credit reports
Advance Payment Gurantees (APG)
Features and Benefits
- Provides legal security by offering a unique kind of protection to the buyer
- Helps contractors receive advance payment from contract employers
- The approval process is quick and easy
- Mitigates the risk of provision of collateral in some cases as guided disbursement mitigate the risk of crystallization
Requirements
- Request lettert
- Letter of award and contract agreement
- 3 clean credit reports
Lease Finance
Features and Benefits
- Conserves Cash: Capital can be used to finance other projects or activities.
- Budgeting: With fixed (monthly, quarterly, annual) payments, cash flow is more predictable making budgeting easier.
- Certainty of payment:The interest rate and payments are known for the term of the lease regardless of fluctuations in market interest rate.
- Flexibility:There are numerous ways to structure lease payments to meet the requirements of the lessee.
- The asset is usually taken as the collateral.
Requirements
- Request letter
- 12-month bank statement
- Invoice of the asset to be purchased
- 3 clean credit reports
