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Savings For Other (to save for a particular need)

A savings account for children between 0-16 years.

Features

  • Opening and Minimum account balance N5,000 (also applies to gift certificate)

  • Account only available to persons under 18 years old.

  • Convenient gift certificate available

  • Waiver on charges for bank draft for payment of school fees.

  • Account can be used as collateral for loan (borrowing account in the short term)

  • Cheques and dividend warrant lodgment

  • Converts to regular current account once child turns 16, or becomes an undergraduate in university (on application) the account can be opened by persons other than the child’s parent/guardian.

Download Account Opening Form

Account Opening Requirements

  • One recent passport photograph of each signatory and beneficiary (with full face forward)

  • Completed and signed signature mandate card

  • Valid identification for each signatory

  • Utility bill

  • Valid resident permit

  • Two Banks references

  • Child birth certificate

  • ASO Flourish gift certificate

  • Complete the ASO Flourish Gift certificate relationship form

  • Provide a minimum of N5,000 plus N200.00 processing fee to purchase gift certificate

Download Account Opening Form

 

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