FAQs On Savings Account

Q1. How much is the minimum daily account balance for a savings account?
A. N500

Q2. Can I pay in cheques or dividend warrant to my savings account?
A. Yes as long as suitable references are in place.

Q3. How much is the minimum opening balance?
A. N2000.

Q4. What is the maximum transactional amount for a savings account?
A. There is no maximum as long as it is a tier 3 account.

Q5. How many withdrawals are allowed on a savings account and on which withdrawals will I forfeit my interest?
A. You are allowed up to 3 withdrawals in a month. On the fourth withdrawal, you will be forfeiting your interest for the month.

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