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Frequently Asked Questions

Find answers to common questions about our banking services

CBN Licensed
NDIC Insured
*614*179#
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Browse our comprehensive FAQ section for clear, concise answers to your most common banking queries

We offer Savings Accounts, Target Savings, Current Accounts, BAM Wallet, Fixed Deposits, Personal loans, School Fees loans, SME loans, Cooperative loans, and Overdraft facilities.

Yes, BAM Microfinance Bank Plc is licensed by the Central Bank of Nigeria (CBN) and insured by the Nigerian Deposit Insurance Corporation (NDIC).

Our main operating office is at Suite 1&2/9&10, POWA International Market, Mararaba-Nyanya, FCT, Nigeria.

We are open Monday to Friday from 8:00 AM to 5:00 PM, and Saturday from 9:00 AM to 1:00 PM. Our USSD banking is available 24/7.

You can call us at +2347037760681, email us at mail@bammfb.ng, or visit any of our branches. You can also reach us on WhatsApp at the same number.

You can open an account by visiting any of our branches, calling our customer care, or dialing *614*179#. You'll need a valid ID, passport photograph, and proof of address.

You need a valid government-issued ID (National ID, Driver's License, International Passport, or Voter's Card), two passport photographs, and proof of address (utility bill, bank statement, or tenancy agreement).

The minimum deposit to open a savings account is ₦1,000. Some specialized accounts may have different requirements.

Interest rates vary by product. Please contact our customer care for current rates on specific savings products.

We offer Personal loans, Child School Fees Loan, Shop Stock Loans, Bam Empowerment loans, Payday/Salary Advance Loans, Cooperative Loans, SME loans, and Overdrafts.

Requirements vary by loan type but generally include valid ID, proof of income, bank statements (3-6 months), and completed application form. Business loans may require CAC documents.

Loan approval typically takes 24-48 hours for personal loans and 3-5 business days for business loans, subject to documentation completeness.

Small loans like Payday Advance don't require collateral. Larger loans may require collateral or a guarantor depending on the amount and loan type.

Simply dial *614*179# from any mobile phone. No internet connection required. Available on all networks (MTN, Glo, Airtel, 9mobile).

You can check your balance, send money, pay bills, buy airtime, open an account, apply for loans, and more.

Yes, USSD banking is secure. You will have a personal PIN that you must enter for every transaction. Never share your PIN with anyone.

Your money is safe with us. We are licensed by CBN and insured by NDIC up to ₦500,000 per depositor. We use industry-standard security protocols to protect your data.

Immediately call our customer care at +2347037760681 to block your card. You can also visit any branch to request a replacement.

Contact our customer care immediately at +2347037760681 or visit any branch to report fraudulent activity. We will take immediate action to secure your account.

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BAM Microfinance Bank Plc is licensed by the Central Bank of Nigeria (CBN) and Insured by NDIC.

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Quick Links

+2347037760681

Looking for financial empowerment? Contact us today!

Suite 1&2/9&10, POWA International Market, Mararaba-Nyanya, FCT
USSD: *614*179#