" /> Savings accounts with additional values | Hallmarknews
Published On: Mon, Jul 10th, 2017

Savings accounts with additional values

One of the principles of wealth creation is savings. You can’t build wealth without saving a portion of your earnings. Though the prevailing circumstance in the country makes it challenging for one to save as the high inflation rate ravaging the Nigerian economy has eaten deep into the disposable income of most people, leaving them with nothing to save at the end of the month, you still have to squeeze yourself to set outside something for the rainy day.
And in doing this, you don’t have to dump your money in a savings account that pays very low interest on your savings. You have to search for accounts that give you the best bargain in terms of interest and additional values. Some savings accounts that offer you benefits that you would not from conventional savings accounts will be reviewed below:
Fidelity Personal Savings Scheme (FPSS)
Fidelity Personal Savings Scheme (FPSS) from Fidelity Bank offers you the opportunity to save for the future and at the same time enjoy all the convenience of a current account. It is a hybrid account that combines the features of a savings account and that of a current account.
Benefits:
The FPSS give the freedom to open account with any amount. And you have no restriction to the number of withdrawals you can make.
After opening this account, you are given a cheque book and you can lodge cheques and dividend warrants into this account.
You are also given a debit VISA or MasterCard and has free access to internet and mobile banking
You also earn a lucrative interest on credit balance.
And you are open to opportunity to earn a share from over N600m Xtra Income in Loyalty rewards that Fidelity bank runs every year.
Documentation:
Tier 1- Passport photograph
Passport photograph
Valid means of identification (ID)
Utility bill

Wema Bank Personal Savings account
A Wema Bank Personal Savings account is designed to help you achieve financial security with little or no stress.
It is an account makes your money worked for you as it requires a low minimum balance, has no hassles, and come with complete flexibility.
Target Market
This account is developed for individuals regardless of their every socio-economic class.
Features
To open the Wema Bank Personal Savings Accounts you need a minimum account opening balance of N2,000.
You are paid a monthly attractive interest payment on account balance if you do not withdraw up to three times within that month.
This account does not allow third-party withdrawals, but you have access to Wema Debit cards (for ATM, PoS, Mobile and Internet transactions) and internet Banking and Mobile Banking platforms.
Document Required
Completed account opening form.
Copy of valid ID (Driver’s Licence, National ID Card, International Passport or Voter ID Card)
Copy of Utility bill (PHCN bill, Waste bill or Water bill issued within the last three months)
Two passport photographs

Access Bank Instant Savings Account
Some people find it hard to walk into a banking hall to open a bank account because of their tight schedule. To help tackle this challenge, Access Bank has designed the Instant Savings Account, a savings account that you can open online with just a passport photograph.
Features and Benefits
The Instant Savings Account does not require opening balance and minimum deposit to keep the account open.
You will not be charged a monthly maintenance fee. And you can open this account online or in any branch of Access Bank.
You have the liberty to access this account on the go through Mobile banking platforms and you will also be given a verve debit cards.
With the Access Bank Instant Account, you can only make a maximum single deposit of N50,000 and maximum cumulative balance of N300,000. You are required to provide a valid ID at the point of account opening for maximum single deposit of N100,000 and maximum cumulative balance of N500,000 to be allowed.
Account Opening Requirement
Duly completed account opening form
Passport photograph
Valid ID – This is not mandatory

Stantic IBTC Max Yield Savings Account
Max Yield is a savings account that offers high interest rates on a minimum deposit balance. It is for customers that want their savings to earn more for them while enjoying partial withdrawals from the account without losing the interest earned.
Benefits:
This account gives you get additional incentives to save to meet personal targets or expenses and also offers you a higher interest on the deposits.
Third party deposits and withdrawals by cheques can be made into your Max Yield account at any Stantic IBTC Bank branch all over the country.
You also have access to make deposit and withdraw cash at any ATM or Stanbic IBTC Personal Deposit Machine.
You are allowed to make a flexible maximum cheque deposit value of N2,000,000on this account.
Receive transfers from abroad and locally and also make payments on the Web and via POS. You are also allowed to check balance, send money and pay bills via Internet Banking.
With Max Yield Account, you can set up direct debits or standing orders for regular bill payments.
And the good thing about this account is that you can earn interest of 6.2 percent per annum (subject to CBN-advised MPR) for minimum daily balances of N100,000. But the normal savings rate or 4.2 percentper annum (subject to CBN-advised MPR) if you withdraw more than once a month or daily account balance is less than N100,000.
He Max Yield account allows you build-up of your savings to meet specific goals.

Reactions from Facebook

comments and opinions

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Recent posts

  • IPOB: Igbo elders keep mum over crisis

    Obinna Ezugwu   Mayhem! There is no better word to describe the events playing out in the South East zone, and Abia State, the home state of rabble rousing leader of the Indigenous Peoples of Biafra (IPOB) in particular at the moment. It has to do with the intense military onslaught and the result has […]

  • Nigeria returns to African Trade Insurance Agency

    Federal Executive Council on Wednesday gave a approval for Nigeria to rejoin the African Trade Insurance Agency. Minister of Finance, Mrs. Kemi Adeosun stated this Wednesday while addressing State House correspondents after the Federal Executive Council meeting presided over by President Muhammadu Buhari. Adeosun said the council approved a memo she presented which harped on the necessity […]

  • Fidelity Bank to give out over N110 Million to Customers in ‘Get Alert In Millions Promo Reloaded’

      Top Nigerian lender, Fidelity Bank Plc is set to delight the banking public with the introduction of a fresh Savings promo that promises to provide new and existing customers with the unique opportunity to win fantastic cash prizes within a specific period. The promo dubbed ‘Get Alert In Millions Promo Reloaded’ is in line […]

  • Royal Exchange defies the odds   

    EMEKA EJERE Royal Exchange Insurance Plc has continued to resist the volatile and tough operating environment of Nigeria, recording a double digit growth in half year profit. Despite the hostile operating environment experienced by the insurance sub-sector and the financial services industry, the underwriter last week announced profit after tax (PAT) of N203.3 million in […]

  • STANBIC IBTC constructs recovery after a storm

    Stanbic IBTC Holdings came to being as a result of a merger between Stanbic Bank Nigeria Limited and IBTC Chartered Bank Plc. On 24 September 2007, IBTC Chartered Bank Plc merged with Stanbic Bank Nigeria Limited. Stanbic Africa Holdings Limited on behalf of Standard Bank tendered an offer for the acquisition of additional IBTC shares […]

  • How PZ makes investors beg for more but….

    Full year results for PZ-Cussons ended on a happy note in May as the company’s profit after tax soared by a hefty 73 per cent rising from N2.1 billion in 2016 to N3.7billion in 2017. The company’s fairy tale result has had several investors emptying their piggy banks as the company’s share price jumps on […]

  • Mama Taraba: A vote of no confidence on President Buhari

    Obinna Ezugwu At Wednesday’s Federal Executive Council meeting, Minister of Women Affairs and Social Development, Senator Aisha Jummai Al-Hassan, alias Mama Taraba was the cynosure of eyes. It was only a week prior that she rattled not only President Muhammadu Buhari, but the ruling All Progressives Congress (APC) when she spoke these words: “Your excellency, […]

  • Military don’t have power to control social media —Tony Momoh

    Prince Tony Momoh is the former Minister of Information between 1986 and 1990 under the military administration of Gen. Ibrahim Babaginda and was instrumental to the establishment of the Advertising Practitioners Council of Nigeria (APCON) by Decree 55 of 1988. In this interview with UCHE AKOLISA, Momoh traces the history of the body that regulates […]

  • Maritime experts petition President Buhari over arms import

    By Funso Olojo A maritime expert, Lucky Amiwero, has decried the destination inspection regime of cargo inspection as the cause of the proliferation of arms imports into the country. It would be recalled that the Nigeria Customs Service made a huge arm seizure at the Tin Can Island port last week Monday with the discovery […]

  • Stakeholders pressure for interest rate reduction as MPC meets

    FELIX OLOYEDE Manufacturers, haunted by falling operating margins, have made strident calls for the Central Bank of Nigeria (CBN) to immediately reduce local interest rates. The plaintive appeal is coming on the sidelines of the CBN’s monetary policy committee (MPC) meeting for the month of September 2017. According to results of a 2017 Manufacturing Sector […]

  • Cloud over Oando AGM; Auditors query accounts

    By Okey Onyenweaku   Controversy has continued to trail Oando Nigeria’s 40th Annual General Meeting which was held last week at the Ibom Hall in Uyo, Akwa Ibom State. While the company’s resolutions which re-elected its directors were seemingly successful, shareholders were divided over the continued leadership of the management. Shareholders have expressed mixed feelings over […]

  • Planned rehabilitation of refineries challenges past experience of state control

              The state of the country’s refineries is so decrepit that any attempt to delay in selling them would amount to a desire to sell scraps. Though the senate agreed that it should be repaired, and the group managing director has already set up seven committees for total turn around at optimum capacity by 2019, […]

  • Anambra 2017: The godfathers confront power of incumbency

    Obinna Ezugwu   Last week at a People’s Democratic Party (PDP) stakeholders meeting in Awka, the Anambra State capital, the immediate past governor of the state, Mr. Peter Obi vowed to aggressively prosecute the November 18 governorship election in the state. “I will be at the forefront of the Anambra governorship election, and we will […]

  • Nigerian pastors: The call of God or mammon?

    ADEBAYO OBAJEMU Obafemi Ayoade, a dealer in building materials has no kind words for Nigerian pastors. He justifies his uncomplimentary view of ‘’these men’’ of God by sharing his experiences with BusinessHallmark.  Ayoade had been married for 10 years without a child, a Muslim he went from one Alfa (Muslim preacher) to another in search […]

  • How Nigeria is shared: Buhari vs Jonathan

    OBINNA EZUGWU   Few days ago, Nigeria’s president, Muhammadu Buhari appointed 15 individuals into managerial positions in the Nigerian National Petroleum Corporation (NNPC), ten of them from the North- mostly Hausa/Fulani from the North West and North East; five from the South – three from the South West, two from the South South and none […]

  • Rising NPL: Banks cut loans, opt for fixed income in H1 2017

    FELIX OLOYEDE Nigerian economy which has struggled to exit recession may be sitting on a keg of gun power as banks cut down credits to the private sector in the bid to push down soaring non-performing loans (NPLs). Review of the 2017 half year financial results of commercial lenders in the country showed that the […]


Visit us on Google+