New-life Savings Account

This is a savings account that allows unlimited deposits and withdrawals, for customers with complete standard account opening requirements. Target market includes Civil servants, Workers, Artisans, Self-employed individuals, Entrepreneurs, Stay at home mums/dads etc.

Features / Benefits

• Zero account opening and operating balance
• Default savings interest rate of 1.15%
• Maximum of 4 withdrawals monthly; Interest forfeiture if withdrawal exceeds four (4) times a month
• Debit card issuance
• Non-clearing cheque book on request
• Lodgement of cheques/dividend warrants of up to N2million; For cheques above N2million, references will be provided
• Access to e-channel platforms
• Account can be opened online

Account Opening Documentation

• Account opening form
• Signature mandate card
• 1 passport photograph
• Resident permit (for expatriates)
• Premises visitation report
• Bank Verification Number (BVN) of Applicant
• Valid means of identification (Int'l passport,
• Driver’s license, National ID, Voter’s card)
• Proof of address (PHCN, Water bill, Waste disposal bill, tenement, etc.)
• Two References (for cheques above N2million)