With a Saving Account deposits are accepted for an unlimited period on which the Bank is required to pay interest. The deposits in this account have no defined maturity and remain with the Bank as long as the depositor wishes. The main aim of a savings account is to enhance society’s saving culture.
Savings accounts are interest bearing can be opened individually, jointly, and by corporate entities and operated using a withdrawal voucher at a branch as well as through the bank digital banking service ATM, P0S, Mobile, wallet, and Internet banking.
A Minor or child is defined as a natural person who has not attained the full age of 18 years and an account can be opened through their parents/guardians or tutors through the court order. It has an attractive and high interest rate
It is a type of savings account opened by adults between the ages of 18 and 24 years. The purpose of this account is to promote a habit/culture of savings, bring Youth into the financial system, and increase financial literacy.
Is a personal saving account, bearing better interest rate packages through retirement saving accounts contributing to financial well-being in old age. It is also introduced to encourage personal saving for retirement.