Since Access Bank inherited the DiamondXtra savings scheme following its 2019 merger with Diamond Bank, the initiative has grown into one of Nigeria’s largest financial reward platforms, significantly boosting customer acquisition, engagement, and inclusion across the country.
Initially launched by Diamond Bank in 2008, the DiamondXtra promo was designed as a hybrid savings and current account that rewarded customers through periodic prize draws. Access Bank has since scaled the programme, leveraging it as a strategic tool to deepen its retail footprint.
Over 5 Million Accounts and Counting
Figures from the bank show that DiamondXtra currently has over five million active account holders, a milestone driven largely by the sustained attraction of its reward system. According to the bank, since inception, more than 33,000 customers have benefitted from monthly, quarterly, and special draws.
The scheme’s most notable offering—‘Salary for Life’—grants selected winners N200,000 every month for 15 years, totalling N36 million per person. Over 131 Nigerians have benefitted from this flagship reward since the initiative began.
In the just-launched Season 17, Access Bank plans to give away N228.7 million to 12,000 lucky customers. That’s triple the number of winners recorded in Season 16, underscoring the bank’s renewed push to expand reach and deepen impact.
Billions Paid, Trust Earned
Since taking over the programme, Access Bank has reportedly paid out an estimated N6 billion in rewards, ranging from cash to cars, houses, business grants, and scholarships. The bank says the success of the programme is rooted in listening to customers and evolving the reward system to match their aspirations.
“In 2019, customers voted for ‘Salary for Life’ and we brought it back. In 2023, they asked for cars, and we gave out cars,” said Adaeze Umeh, Unit Head, Consumer Banking, during the launch of Season 17. “This year, 40 percent of customers asked for ‘Salary for Life’ again—and we are responding.”
Driving Financial Inclusion Through Innovation
Beyond the numbers, Access Bank has used DiamondXtra as a platform to promote financial inclusion. The introduction of digital cluster draws through the Access More app and dedicated women’s clusters are part of a broader plan to onboard underserved groups.
The scheme now includes support for small and medium enterprises (SMEs), offering up to N10 million in collateral-free loans, along with business mentorship and training. According to Olukemi Olayinka, Regional Sales Director, these innovations are key to ensuring the programme remains relevant.
“DiamondXtra is not just about savings anymore,” Olayinka said. “We are equipping entrepreneurs with tools to grow, while still rewarding savers. Over the years, we’ve seen people open their first bank accounts because of this programme.”
Looking Forward
As Access Bank targets one million new DiamondXtra accounts by 2025, the promo is poised to remain a cornerstone of its mass-market strategy. The bank says its focus is not just on numbers, but on delivering meaningful experiences to customers.
“Every reward we give out is a story—of trust, of hope, of transformation,” said Umeh. “DiamondXtra represents the kind of banking we want to promote: convenient, inclusive, and empowering.”
With each season, DiamondXtra continues to demonstrate that financial services, when designed with impact in mind, can deliver far more than profits—they can build lives.
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