Stanbic IBTC Bank, a member of Stanbic IBTC Holdings, has officially unveiled the second season of its highly successful Reward4Saving promo, aimed at encouraging Nigerians to imbibe a strong savings culture while rewarding loyal customers for maintaining consistent deposits. The initiative, which gained wide traction in its maiden edition, is designed to empower customers financially while promoting disciplined savings habits across different segments of the population.
According to the bank’s management, the second season of the promo will span 12 months and is open to both new and existing individual customers who operate savings accounts with Stanbic IBTC Bank. To qualify for the draws, customers are required to maintain a minimum monthly deposit of N10,000 for a minimum period of three months. The more customers save and sustain their deposits, the higher their chances of winning in the draws.
During the launch event, the Chief Executive of Stanbic IBTC Bank, Wole Adeniyi, emphasized that the Reward4Saving promo aligns with the bank’s goal of improving the financial well-being of its clients while contributing to broader economic growth. He highlighted that the first season recorded remarkable participation across all regions of the country, resulting in millions of naira being disbursed to hundreds of lucky customers. The new season is expected to be even more impactful, with bigger rewards and broader inclusion.
Under the terms of the new season, the bank plans to reward hundreds of winners every quarter with cash prizes, ranging from N100,000 to N1 million, culminating in a grand prize for the top savers at the end of the promo. Adeniyi noted that the promo serves as an opportunity for customers to benefit financially while cultivating prudent money management habits. The bank has also made participation seamless, allowing both digital and physical account holders to qualify without any extra registration process, as long as the monthly deposit requirements are met.
Representatives from the National Lottery Regulatory Commission and the Consumer Protection Council, who were present at the event, affirmed that the promo is fully transparent and regulated to protect customers. The presence of these regulators underscores the credibility and fairness of the draws, which will continue to be supervised publicly to ensure that only qualified customers win.
The promo is open to Nigerians across all 36 states, and the bank reiterated its commitment to ensuring inclusivity by encouraging participation from rural and urban customers alike. To facilitate this, Stanbic IBTC has invested in expanding its digital platforms, making it easier for customers to open accounts and carry out savings transactions from their mobile devices. With the increasing adoption of digital banking services, the bank believes that the second season will reach a wider audience and record even higher participation than its maiden edition.
Financial experts have lauded initiatives like Stanbic IBTC’s Reward4Saving promo as crucial to improving Nigeria’s low savings-to-GDP ratio. According to analysts, such programmes not only empower individuals financially but also help to mobilize domestic capital, which is essential for economic development and reducing dependence on foreign loans. By rewarding individuals for saving, banks also deepen financial inclusion, bringing more Nigerians into the formal banking system.
The first season of the Reward4Saving promo, launched in 2022, saw over 1,000 customers nationwide win various cash prizes, and the bank says the testimonials from winners inspired the continuation of the initiative. Some beneficiaries of the first edition revealed how the cash prizes helped them boost their businesses, fund education, and address personal financial needs. Building on this success, the second season has been designed with even more attractive packages to motivate customers to save consistently.
Stanbic IBTC has positioned itself as one of Nigeria’s leading financial institutions, with a focus on innovative products tailored to meet the evolving needs of its customers. The Reward4Saving promo complements its other initiatives in promoting financial literacy, providing access to loans, and offering investment opportunities. The bank also reiterated its dedication to supporting the Central Bank of Nigeria’s (CBN) drive for greater financial inclusion and improved savings rates among Nigerians.
Beyond rewarding customers, the initiative also aligns with the bank’s corporate social responsibility goals by contributing to poverty reduction and economic empowerment. With inflationary pressures eroding disposable income for many Nigerians, the bank believes that the habit of regular savings, reinforced with incentives, can help individuals build financial resilience against economic shocks.
The second season of the Reward4Saving promo has already commenced, and Stanbic IBTC has urged customers to start saving or continue saving to stand a chance of winning. The bank plans to conduct quarterly draws and a grand finale at the end of the promo, where top winners will be unveiled. Customers can track updates on the promo via the bank’s official website and social media platforms.
As competition intensifies in the Nigerian banking sector, Stanbic IBTC’s savings reward campaign demonstrates the institution’s commitment to putting customers first while contributing to the country’s economic development. With this second season, the bank is not only encouraging Nigerians to save but also creating life-changing opportunities for hundreds of its customers nationwide.
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