STOCK

ACCESS BANK PLC

8.05

-0.62%

16/10/2018

Target Savings

Account

Save towards specific projects over a specified time frame.

OPEN AN ACCOUNT NOW

Target Savings Account

Target Savings is a purpose driven non-transactional savings account. A specific lump sum is targeted at the point of entry by the customer, and progressive savings is made monthly until the set target is achieved. The account is a standalone, and can be opened independently by new and existing customers of the Bank.

Product Features

1
  • Opening balance of N5,000
2
  • No minimum operating balance
3
  • Interest rate of 5% p.a. but paid quarterly
4
  • It allows cash and cheque deposits into the account.
5
  • Regular monthly contributions depending on the target amount in order to meet the savings plan
6
  • Withdrawal is at the end of the tenor/savings plan
7
  • Minimum savings period of six months (partial / full withdrawal prior to six months attracts interest forfeiture for the quarter withdrawal was made)
Restrictions:
*
No issuance of debit cards.
* No transaction access on the mobile or internet banking platforms.

Benefits

  • Convenient & flexible account opening requirements
  • Remote access to your bank account on the mobile or internet banking platform (view only)
  • Monitoring of account activities from the comfort of home/office via the internet & mobile banking platform
  • Provides account information updates via SMS/Email alerts
  • No monthly maintenance fee

Account Opening Requirements

  • Duly completed account opening form including signature mandate section
  • Valid means of identification e.g. National Identity card, Driver’s License, International Passport, or Voter’s card
  • KYC Documentation of the customer
  • Valid proof of residence
  • Visitation report
  • BVN of signatory(ies)
  • AML risk assessment form
  • 1 passport photograph