Features

• Minimum opening amount of N10,000 and operating balance of N50,000

• Withdrawing twice in a month results in forfeiture of interest. However, payments made on account for education expenses of the designated beneficiary would not count for forfeiture of interest. (and must reflect such in the mode of payments such as schools fees or related fees through transfer to school)

• Dividend warrants and cheques can be lodged into the account in the name of the child.

• Initial and later investment to the account can be made by cash, personal cheque, and direct deposit through a financial institution, payroll deductions, electronic funds transfer, and a roll-over instruction from an existing fixed deposit account etc.