Here you will find a list of our most frequently asked questions and answers to them. If there is anything you are looking for that we have not covered then do not hesitate to contact our Customer Support team.
Table of Contents
What is festivesave?
Festivesave makes saving for the festive holidays (Christmas, Eid Kabir, Easter and Eid Fitr) very simple.
How do i start saving on festivesave?
To start saving on festivesave:
- Visit the website or Download the app to create an account.
- Activate your account by making your first savings deposit. (Use a MasterCard, Visa or Verve from any bank in Nigeria).
- Then set up your savings plan.
Are there bank charges when you deduct from my account?
No! it's completely FREE. There are no bank charges for transferring money to your festivesave account.
How much can i start saving?
There is no minimum or maximum amount to start saving. Although, you will be asked to provide more details for any transaction up to 1 million naira.
I don't know my BVN, how can i get it?
To get your BVN, dial *565*0# from the phone with the SIM linked to your bank account. Your service provider may charge you N20 for each request.
How safe is festivesave?
Festivesave.ng uses the highest levels of Internet Security, and it is secured by 256 bits SSL security encryption to ensure that your information is secure and completely protected from fraud.
Does festivesave have an office?
Yes! Festivesave is owned and operated by MKOBO Microfinance Bank Limited. We are located at 13 HUGHES AVENUE, ALAGOMEJI, YABA, LAGOS.
Are my card details safe?
Your card details are extremely safe as they are never stored on festivesave. We work with a PCIDSS-compliant payment processor, paystack to handle your card details.
How does verification work?
We need to verify your details at various point on the platform both during registration and first withdrawal.
Email & Mobile number Verification:
We verify your email address by sending you a link to your registered email, which you just need to click on to complete your registration.
We verify your mobile number by sending you a code via SMS which is required when creating a new Festivesave account.
Are my card details safe?
We will need to verify your BVN number before you can make your first withdrawal, this is assuming that you did not complete this information in your Festivesave profile.
Do I have to login every time I want to save ?
No, everything is done automatically except you want to use the savenow option. All transactions on your debit card will be visible in your dashboard.
What if I don’t have funds in my account or debit card?
We will not be able to debit you for that day, week or month. We will only be able to save for you when you have funds in your debit card. However, you have the option to use the "Save now" option once you have loaded your account.
What is save now?
This option basically enables you to add more funds to your savings. For example, if you set N1,000 daily and you miss a day or two, you can use the Save now option to deposit N2,000 or N3,000 at once. This is to ensure you meet up with your savings target.
How many savings plan can I create?
you can create as many plans as you wish. Christmas festivesave, Eid fitri festivesave, Easter festivesave, Eid kabir.
Can I put my automated plan on hold?
No! This feature is not available yet.
Do I get interest on festivesave?
Yes, you earn up to 10% bonus on your savings.
What if I don’t want bonus?
Valid. Simply visit 'account settings', scroll down and check the box that says 'Disable Interest...'
Are there conditions for the bonus jumpstart funds promotions?
Yes there are, please click here to see the T&Cs for the promotion
How do I withdraw my savings?
You need to have filled your bank details in your withdrawal settings then, click on the "withdraw" option on your dashboard, enter the amount you want to withdraw and your funds will be transferred to your set bank account.
When can I withdraw my money?
At the set maturity date, you can withdraw some or all of your savings together with the bonus. Although, if you withdraw your savings before the set maturity date there would be no bonus.
Can I choose any amount to withdraw per time?
Yes, you can, just go to the withdraw page and enter how much you want to withdraw.
What is the minimum and maximum amount I can withdraw?
The minimum amount you can withdraw from your Festivesave account is N1000 and there is NO maximum.
Do you have a mobile app?
Yes! The mobile app is available ONLY on Android and iOS.
How does the referral program work?
Inviting friends is key to Festivesave’s revolution. The more people that save for the festive season, the better it is for everyone.
Get cash when you invite your friend!
We will reward you for inviting your friends and family with N250 instantly when they save a minimum of N2,500 with Festivesave.
That's it! Start inviting your friends now -
How do I invite friends?
Inviting friends is easy, you just need to visit share your uniqe referral link with your friends. Your invite link can be found on your referral page link to referral page. Your friends just need to click on your unique invite link and join Festivesave.
Remember, for your invites to count, your friends need to sign up and make their first Festivesave of N2,500 or more after using your invite link. You can track how many friends clicked on your link and how many registered and saved.
How do I withdraw the referral bonus?
You can only withdraw the referral bonus when your current Festivesave plan ends. You will need to do this by transferring your referral bonus/reward to the active Festivesave Plan.
Festivesave.com is owned and operated by MKOBO Microfinance Bank Limited all our savings deposit are fully insured by Nigerian Deposit Insurance Corporation (NDIC). Festivesave.com uses the highest levels of Internet Security, and it is secured by 256 bits SSL security encryption to ensure that your information is secure and completely protected from fraud.
MKOBO is registered in Nigeria as MKOBO Microfinance Bank (No. RC1234231), 3rd floor, 13 Hughes Avenue, Alagomeji, Yaba, Lagos. You will find the growing MKOBO team working at the same location. We are authorised and regulated by Central Bank of Nigeria (CBN) under registration number 51188.
By using this website, you understand that the services and products offered on this website ("Services and Products") are for information purposes only. No persons gaining access to this website in any jurisdictionsmay treat any materials or information provided on this website as constituting an invitation to them to subscribe for the services, nor should they in any event use such Services, unless in the relevant jurisdiction, the Services could lawfully be made to them. Accordingly, nothing contained in this website shall constitute an offer or solicitation by anyone in any jurisdiction in which such offer or solicitation is not lawful. It is the responsibility of any person to inform themselves of and to observe all applicable laws and regulations of any relevant jurisdiction before they subscribe for the services. MKOBO shall have the final determination of eligibility to subscribe for any of the Services.
The information contained in these pages is not intended to provide professional advice and should not be relied upon in that regard. Persons accessing these pages are advised to obtain appropriate professional advice when necessary at all times in their respective jurisdiction.
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