16 Views

10 Value Added Savings Accounts Available In Nigerian Banks

upload_2015-3-16_9-45-15.png

Nigerian banks like every other international bank have two generic types of account, namely savings account and current account. These two account types are the same across all banks but are differentiated by brand names and packaging. Despite the similarities exhibited by these accounts, there are variations across Nigerian banks as far as the benefits derived from opening and running them. However, this presentation examines savings account packages/products among banks in Nigeria, which offer customers numerous benefits.

1. Diamond Savings Account

This is a savings account packaged by Diamond Bank Plc. Its major benefit is its zero operating balance which means a customer can withdraw to zero Naira on the account. Also, the account operates with a minimum opening balance of N1, 000.00. It comes with competitive interest rate that is forfeited if a customer withdraws more than three times in a month. It also comes with a debit card, SMS notification on all transactions and access to diamond bank e-channels.

2. Skye Save

Skye save is a type of savings account in Skye Bank Plc. It is a savings account tailored towards meeting the saving needs of individuals. Skye save’s minimum opening balance is N 5, 000.00 and its minimum operating balance is N1, 000.00. It pays 3% interest rate on average monthly balance and disallows third party withdrawal. It allows for dividend warrant lodgment and comes with a debit card and transaction alert.

3. Eazysave classic account

This is a savings account packaged by Zenith Bank. This account is designed to facilitate financial sense of belonging for individuals with minimal form of identification. Eazysave’s major benefits reflect in its zero naira account opening balance, maximum single deposit of N 20,000.00 and maximum operating balance of N 200,000.00. the account pays 3.6% interest rate per annum and issues MasterCard, Visa Card and SMS notification.

4. Freedom Savings Account

This account is a UBA liability product designed such that customers can open it with zero naira and operate it with a minimum balance of N 100. Freedom savings account customer’s single deposit can not exceed N 20,000 and the account balance can not exceed N 200,000.00. This account disallows local and international fund transfers, but it issues verve card.


5. Personal Savings Account

This Wema Bank account helps individual attain financial security with little or no hassle. Its minimum account opening balance is N2, 000. The account pays monthly interest on account balance and does not allow for third party withdrawals. It offers its subscribers Wema internet banking facilities and Wema debit card.

6. Ecobank Savings Account

This pan-African bank savings account offers minimal opening balance, SMS alert facilities, monthly e-statement, standing order, debit card and internet banking.

7. Target Savings Account

This is one of Access Bank Plc savings account products. It is designed for individuals that want to save in order to target the financial needs of an event. Under this account, money is deposited by the customer each month until the set target is achieved. It requires N 50,000 as minimum opening balance, pays 5% interest rate per annum. It also offers customers the chance of withdrawing at the end of the savings plan.

8. First Savings Plus (FSP)

This savings account is a hybrid account designed by First Bank Plc. It offers an interest rate of 3.6% and gives room for cheque or dividend warrant lodgment. It allows third party withdrawals via cheque.

9. Fidelity Personal Savings Plus (FPSS)

FPSS is one of the frontline hybrid savings accounts and it was designed by Fidelity Bank Plc. It offers free ATM cards, a minimum opening balance of N 2,000, attractive and competitive interest rate, third party cheque withdrawal and lodgment of cheques and dividend warrants.

10. Classic Savings Account

This is a reliable savings account designed by Nigeria’s number one customer bank-Sterling Bank Plc. Like some banks savings account packages, it offers zero opening balance and minimum operating balance of N 1,000. This account avails its subscribers instant debit card, SMS alert, online access and mobile banking servi

Get the best viral stories straight into your inbox!

Don't worry, we don't spam

Leave a Comment

Your email address will not be published.

Latest Posts

Motherhood: Living The First 1000 Days On Earth Healthy
Featured
37 views
Featured
37 views

Motherhood: Living The First 1000 Days On Earth Healthy

Mabel - September 26, 2017

Life they say is worth living for and staying healthy is the key accompanied with proper hygiene and good nutrition. My mother ''Abigail'' as we fondly call…

Letter To Nnamdi Kanu By Reuben Abati
Politics
35 views
Politics
35 views

Letter To Nnamdi Kanu By Reuben Abati

PH - September 26, 2017

Dear Nnamdi Kanu, We have never met. I only know you by reputation and I have had cause in the last year to write on your activities…

How Dino Melaye Escaped Notice Of Recall From INEC Officials At NASS
Politics
30 views
Politics
30 views

How Dino Melaye Escaped Notice Of Recall From INEC Officials At NASS

PH - September 26, 2017

It was an obvious drama as Senator Dino Melaye representing Kogi West Senatorial district abruptly rushed out of the senate session and went straight to his car…

“I Am The Only Rich And Established Up Coming Artiste” – Psquare’s Peter Okoye Boasts As He Goes Solo (Photo)
Entertainment
55 views
Entertainment
55 views

“I Am The Only Rich And Established Up Coming Artiste” – Psquare’s Peter Okoye Boasts As He Goes Solo (Photo)

MT - September 26, 2017

In the drama which seems not to end anytime soon, Peter Okoye who reacted to a tweet from a fan, has tagged himself as ‘the only Rich and…

See The Unusual Thing Governor Fayose Was Spotted Doing On The Streets Of Ekiti (Photos)
Funny
28 views
Funny
28 views

See The Unusual Thing Governor Fayose Was Spotted Doing On The Streets Of Ekiti (Photos)

MT - September 26, 2017

The people’s governor from the street, as his supporters used to call him, influential politician and PDP chieftain, Governor Fayose was recently seen the street with guys…

BBNaji Bisola All Smile As She Poses With Two White Police Men In New York City
Entertainment
38 views
Entertainment
38 views

BBNaji Bisola All Smile As She Poses With Two White Police Men In New York City

MT - September 26, 2017

Big brother Naija ex housemate and first runner up, Bisola Aiyeola is sure having fun in New York city. Recall Bisola traveled to New York city where…

Check Out What OAP Daddy Freeze Said About His Ex: “I Will Rather Sniff Cocaine Than Take My Ex-Wife Back”
Entertainment
43 views
Entertainment
43 views

Check Out What OAP Daddy Freeze Said About His Ex: “I Will Rather Sniff Cocaine Than Take My Ex-Wife Back”

MT - September 26, 2017

Cool FM OAP, Ifedayo Olarinde, popularly known as Daddy Freeze who had a messy split with his ex-wife Opeyemi, has dropped a shade for her on his…

World Cup Qualifier; Mikel, Moses, Iwobi Make Super Eagles List For Zambia Clash. [See Full List]
Sports
34 views
Sports
34 views

World Cup Qualifier; Mikel, Moses, Iwobi Make Super Eagles List For Zambia Clash. [See Full List]

MT - September 26, 2017

Super Eagles’ technical adviser Gernot Rohr has called up captain John Mikel Obi, Odion Ighalo, Alex Iwobi and 20 other players for the October 7 must win…

Aliko Dangote To Invest $4.6Bn In 4 Agricultural Sectors
Agriculture and Farming
31 views
Agriculture and Farming
31 views

Aliko Dangote To Invest $4.6Bn In 4 Agricultural Sectors

PH - September 26, 2017

Alhaji Aliko Dangote, the Chief Executive Officer, Dangote Group, has said that the company would invest 4.6 billion dollars in nation’s agricultural sector in the next five…

Excitement As Ooni of Ife Enters Seclusion For 7 Days To Prepare For Olojo Festival
Art, History and Culture
34 views
Art, History and Culture
34 views

Excitement As Ooni of Ife Enters Seclusion For 7 Days To Prepare For Olojo Festival

MT - September 26, 2017

The highly revered Ooni of Ife has gone into seclusion for as many as seven days as he prepares for the Olojo festival. According to a report…

VIDEO: Actress Omotola Leaves Her Daughter Behind While Running From A Crocodile In Ibadan.
Entertainment
50 views
Entertainment
50 views

VIDEO: Actress Omotola Leaves Her Daughter Behind While Running From A Crocodile In Ibadan.

MT - September 26, 2017

A hilarious video has emerged online, showing Nigerian actress, Omotola Jalade and her daughter fleeing from a crocodile in Ibadan. Omotola Jalade and her daughter Omotola Jalade,…

How Police Arrested Boko Haram Commander in Ondo
Politics
38 views
Politics
38 views

How Police Arrested Boko Haram Commander in Ondo

PH - September 26, 2017

Nigerian Police Arrest Wanted Boko Haram Terrorist Commander in Ondo State, hands over suspect to Army. The Nigeria Police, Ondo State Command on Sunday 24th September 2017…

See Why Singer Jawon Thinks Eedris Abdulkareem Has No Right To Criticize Artistes With Babymamas
Entertainment
33 views
Entertainment
33 views

See Why Singer Jawon Thinks Eedris Abdulkareem Has No Right To Criticize Artistes With Babymamas

MT - September 26, 2017

Nigerian singer Jaywon has reacted to an Eedris Abdulkareem interview where the veteran called out artistes like Wizkid and Davido for having children outside wedlock. Speaking to…

See Photo Of INEC Officials Dumping Recall Documents In Front Of Dino Melaye’s Office At National Assembly
Politics
37 views
Politics
37 views

See Photo Of INEC Officials Dumping Recall Documents In Front Of Dino Melaye’s Office At National Assembly

MT - September 26, 2017

INEC officials who arrived the National Assembly Complex to notify Senator Dino Melaye on the petition the commission received from his constituents to recall him. Dino Melaye…

This Is What Dino Melaye Is Saying About Claims That The Petition Against Him Was Signed By 188,000 People.
Politics
41 views
Politics
41 views

This Is What Dino Melaye Is Saying About Claims That The Petition Against Him Was Signed By 188,000 People.

MT - September 26, 2017

The representative of Kogi West Senatorial District, Dino Melaye, on Monday raised the alarm that the petition presented by the Independent National Electoral Commission against him in…

Why I Support Buhari’s Move To Regulate Hate Speech – Okupe
Politics
31 views
Politics
31 views

Why I Support Buhari’s Move To Regulate Hate Speech – Okupe

PH - September 26, 2017

Doyin Okupe, a former aide to ex-President, Goodluck Jonathan has said he supports President Muhammadu Buhari’s move to promulgate a law against hate speech. He said there…

Why I Attacked Those Against Restructuring – Atiku
Politics
37 views
Politics
37 views

Why I Attacked Those Against Restructuring – Atiku

PH - September 26, 2017

Former Vice President and chieftain of the All Progressives Congress, Atiku Abubakar, has explained why he said the North is not prepared for restructuring. In a statement…

Check Out What Bed Bug Forced Obafemi Awolowo University Students To Do (+Photos)
Shocking
38 views
Shocking
38 views

Check Out What Bed Bug Forced Obafemi Awolowo University Students To Do (+Photos)

MT - September 26, 2017

Undergraduate students of the Obafemi Awolowo University, Ile Ife have cried out for help following an attack by bedbug. The students were forced to spread their mattresses…

Loading...