Journal VOL. 1 NO. 1, June. 2021, ISSN: 2811 - 2393
Impact of Microfinance Banks on the Saving Habits of Ruraldwellers in Igbesa, Ogun State. Nigeria (A Study of Lapo Microfinance Bank, Igbesa Ogun State)
Adu Cecilia Adurayemi
ABSTRACT
The study investigated the impact of microfinance banks on the banking habit of rural dwellers in Igbesa town in Ogun State, Nigeria. One hundred (100) customers were purposively selected. The sample was taken on a single day to avoid multiple representation of each element.The result of the study showed that microfinance bank services have positive relationship with savings habits of the rural dwellers in Igbesa, Ogun state. Specifically, Microfinance Bank services (β=321, p<05) had significant positive relationship with savings habit of the rural dwellers who operated bank accounts with the microfinance bank. The findings also showed that the availability of Microfinance Bank services could explain 10.3% of the possibility that the rural dwellers (bank account owners with the Microfinance Banks) chances of saving habits. Besides, Microfinance Bank services had a significance positive impact (F (1,83) = 9.559, p
Keywords: Saving Habits, Microfinance Banks, Customers, Interest Rate
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