Products
Supersonicz provides microfinance services, including deposit mobilization and the granting of credits to the general public especially those without access to financial services. Accordingly, our objective is to facilitate poverty alleviation by extending financial services to micro-clients such as small-scale business enterprises, market women/traders and farmers.
Our savings products include:
Savings Schemes
Normal Savings Account
Type of product: Saving/Deposit
Targets Market:
- General public
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Key Features
- Periodic/regular savings
- Unlimited number of withdrawals (subject to availability of funds)
- Access to free internet banking
- Free saving pass book.
- Minimum opening and operating balance of D150
Benefits
- Payment of profit on the account
- Can be pledged as security for borrowing
- Inculcate the culture of saving to meet urgent needs
- Free financial advise.
Tes-Tes Savings Account (Business Development Savings Account)
Type of product: Savings/Deposit.
This is a business and entrepreneurial development account.
Targets Market:
Targets businesses or individuals getting regular daily income such as:
- Small scale/micro tradesmen
- Market women
- Shop keepers
- Women kafoos
Key Features
- Encourages saving and capital formation among small-scale businesses in the informal sector.
- Regular deposits on daily, weekly or monthly basis e.g. D100, D1000.
- SFL will provide special financing support to account holders planning to expand their business
- Maximum of two withdrawals within one month.
Benefits
- Encourages capital formation and opportunity to expand business
- Enables the account holder to save for future
- Secure savings scheme that will attract good profit
- Can be pledged as security for borrowing
Njering Eleg/Fixed Term Deposit
FIXED TERM DEPOSITS: [Condani/Njirin Eleg]
TARGET Market: Individuals and businesses
Key Features
- Minimum balance of D25,000 for 90 days, 180 days or 1 year
- Restricted access to funds for the agreed period
- Roll-over option
- No maximum deposit limit.
- If investment is terminated before maturity, it will attract only 50% of accrued profit
Benefits
- High rate of profit
- Profits are calculated and paid on maturity.
- Investment can be pledged as collateral for loan / overdraft
Life Event Savings
Type of product: Savings/Deposit
TARGET Market:
- Members of the general public, especially professionals and civil servants who are preparing for:
- Marriage
- Naming ceremonies,
- Acquisition of assets like house, furniture, car, equipment, etc.
Key Features
- This is a term deposit ranging from 6 months
- Commitment to save fixed amounts over the period towards specific life savings
- Restriction on withdrawal
Benefits
- Attractive profit payable on saving
- Free internet banking
- Free financial advice service.
- Can be used as collateral for loan/ overdraft.
Hajj Savings
Product Type: Saving / Deposit
Target Market:
Individuals who intends to perform hajj or intends to fund the hajj/Umrah of a parent or relative.
Key Features
- Minimum monthly regular deposit of D2,500 for 3yrs or D5,000 for 2yrs
- Restriction on withdrawal for the agreed period
- It is a no age limit scheme that is easy and affordable
- Free quarterly statement of account.
Benefits
- It can help customers to prepare for hajj within 2 to 5 years
- Attractive profit on investment
- Assist customers realize their intention/dream for hajj.
Saama Sang Savings Account
Type of product: Savings/ Investment
Target Market: Targets individuals getting regular withdrawals to meet their business requirements.
- Farmers
- Businessmen
- Carpenters / welder-men
- Students
- Butchers
- Taxi drivers
- Second hand cloth dealers
- Fishmonger
- Groups/Associations
Product features
- Promotes savings culture for unforeseen future needs
- Group account that enables members to save collectively
- SFL manages local Oususu on behalf of groups/associations
- Individuals may also open account to save over a period
- Minimum operating balance of D150
- Secured and reliable saving scheme.
- Groups determines the access frequency
- Customer build up funds in the first six month without withdrawal.
Benefits
- Promotes individual development savings for the future
- Earns attractive profit
- Financial freedom.
- Could be pledged as collateral for loan / overdraft
- Free financial advice.
Child Education Account
Type of product: Investment/Deposit
Targets customers with children going to school
Key Features
- Investment account that customer builds in the first year and won’t access.
- The customer will commit to deposit fixed amount monthly (minimum D150.00).
- After the first year, the customer may withdraw 33% of their annual commitment
- The customer may be entitled to up to 150% of the amount as micro-credit from Supersonicz on a termly basis.
- In the event of death or total disability, Supersonicz will pay gift in addition to the sum in the account.
- Standing instruction feature
Benefits
- Enables parents to better plan the education of their children
- Provides access to finance for educational purpose in moments of need
- Gives investment opportunity that pays attractive profit on the account
- Secures the future of the children in terms of education
- Pays gift in the event of death or total disability that is up to twice the amount in the account
Supersonicz Noflai Account
Product Type: Checking Account.
Target Group: Individual, salary earners and business
Key Features
- Minimum opening balance of D5,000.00
- Commission on turn over at 3/mille
- Free monthly statement upon request.
- Unlimited withdrawals
- Supersonicz custom cheque book
Benefits
- Access to the funds anytime
- Third party withdrawal
- Account can be used for standing order.
- Satisfactorily conducted account can have access to loan/overdraft
- Access to online banking to view, manage and conduct transactions at your convenience
Diaspora Savings Account
Type of product: Saving/Deposit
Targets customers: Gambians abroad
Key Features
- Minimum opening balance of D1,000.00
- Minimum operating balance of D500.00
- Secured and reliable saving scheme.
- No limit to number of withdrawal.
- Easy access to funds.
Benefits
- Option to nominate a resident joint signatory (e.g. spouse/parent in the Gambia)
- Dedicated Relationship Manager
- In total control of your account through easy access to internet banking services 24/7
- Attractive profit payable on savings
- Easy to repatriate your hard earned income back home
- Ability to send instruction via the Internet.
- Opportunity to make investments back home in The Gambia
- Ability to send funds directly to your account using Supersonicz UK platform
Condaneh Savings Scheme
Type of product: Saving/Deposit
Targets customers:
- Market Women,
- Corner shops,
- Barbing Salon,
- Mini markets,
- Petrol stations, etc.
Key features
- It enables customers from all walk of life to manage and save their money.
- The boxes are given to the subscribers at their various working places.
- Each box will be given an account number to be managed by a SFS staff that will be coming for daily collection.
Benefits
- It encourages savings and makes banking easier.
- Profit paid yearly on savings.
- Free financial advisory service.
- Free quarterly bank statements.
- Inculcate the culture of saving in our communities.
- Can be used as collateral for loan / overdraft.
Credit Financing
Tes-Tes Financing
- This is a cost-plus margin financial support that we provide to small-scale business entrepreneurs who plan to expand their businesses.
- The credit facility is usually for a short-term of not more than four months
- Leasing
- Joint Venture Project Financing
Our Associates
Download Account Opening Form
