Early Savers Account

Early Savers Account is a special savings account for Kids/Teen, with parents/guardians as the trustees of the account until the child is 18 years old. Target market includes Parents, Guardians and Grand Parents.

Features / Benefits

• Account is opened in the child’s name and operated by the parent/guardian
• Minimum opening and operating balance of N100.00
• Default savings interest rate of 2%
• Maximum of 4 withdrawals monthly; Interest forfeiture if withdrawal exceeds four (4) times in a month
• Debit card issuance
• Lodgement of cheques/dividend warrants (in Child’s Name) of up to N2million
• Access to consistent saving with standing instruction from benefactor account
• Access to e-channel platforms
• Account can be opened online

Account Opening Documentation

• Account opening form
• Signature mandate card
• Resident permit (for expatriates)
• Premises visitation report
• Bank Verification Number (BVN) of Applicant
• One recent Passport photograph of parent and one of child
• Valid means of identification of parent (Int'l passport, Driver’s license, National ID, Voter’s card)
• Proof of address (PHCN, Water bill, Waste disposal bill, tenement, etc.)
• Proof of age document of the child (Int’l Passport, Birth Certificate, Notification of Birth)