ℹ️ Cooperative Savings Policy4% Monthly
Monthly contributions earn 4% monthly interest (48% p.a.) but must be maintained for at least 1 year (12 months), otherwise accrued interest is forfeited. Minimum contribution: ₦5,000/mo, Maximum: ₦200,000/mo.
Total Contributions
₦480,000.00
Estimated Interest
₦317,285.12
Estimated Balance
₦797,285.12
Balance Growth by Year
Yr 1
Yr 2
Opening
Contributions
Interest Earned
Year-by-Year Projection
2 years| Year | Opening Balance | Contributions | Interest | Closing Balance |
|---|---|---|---|---|
| Year 1 | ₦0.00 | ₦240,000.00 | +₦66,526.43 | ₦306,526.43 |
| Year 2 | ₦306,526.43 | ₦240,000.00 | +₦250,758.69 | ₦797,285.12 |
| Totals | ₦480,000.00 | +₦317,285.12 | ₦797,285.12 | |
Disclaimer: Results shown are projections only based on the inputs provided. Actual returns may vary depending on the savings product selected, market conditions, and applicable terms. This calculator does not create any financial obligation or transaction.