Instant Savings Account

Rethink banking with a savings account without hassles.

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Instant Savings Account

Life’s too short not to save. But it’s also too short to spend your time, filling out long forms and waiting in long queues. Take the hassle out of saving for your future and open this account – with just your passport photograph!
 

Features

INSTANT SAVINGS 1 INSTANT SAVINGS 2

No minimum opening balance

No minimum opening balance

Account details can be uploaded via our contact center, branch or website

Account details can be uploaded via our contact center, branch or website

Issuance of Verve cards (only)

Issuance of Verve cards (only)

Interest rate of 1.4% p.a. (per annum)

Interest rate of 1.4% p.a. (per annum)

Maximum single deposit-N50,000

Maximum single deposit-N100,000

Maximum cumulative balance-N300,000

Maximum cumulative balance-N500,000

Transactions are limited to Nigeria

Transactions are limited to Nigeria

Benefits to the Customer

  • Convenient & flexible account opening requirements.
  • Account can be opened via contact center, website or in the branch
  • The account makes accountholder to be financially-included
  • No monthly maintenance charge on the account
  • Provides account information updates via SMS/Email alerts
  • Access to cash anytime, anywhere with debit cards on ATMs
  • Use of Verve debit cards on POS terminals

Requirements:

INSTANT SAVINGS 1 INSTANT SAVINGS 2

Duly completed account opening form including signature mandate section

Duly completed account opening form including signature mandate section

1 passport photograph

1 passport photograph

Means of identification not required

Means of identification required (secondary ID allowed: any verifiable ID e.g. Association ID, student ID)

- Address verification not required
- BVN of signatory(ies)
- AML risk assessment

- KYC Documentation of the customer
- Valid proof of residence
- Visitation report
- BVN of signatory(ies)
- AML risk assessment

Customer data verification not required

Customer data to be verified with NIMC, INEC, FRSC and others where applicable.
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