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)
CapitalMetriQ Early Savers Account