Wema Open Plan Account is a multi-benefit account, which enables one to save towards any project of ones choice easily. It is flexible and earns attractive interest rates. The following are the product lines:

· Share Acquisition Savings Account (SASA)
· Artisan/Apprentice Savings Account (AASA)
· Marital Savings Account (MASA)
· Xmas/Sallah Savings Account (XSSA)
· Pilgrimage Savings Account (PISA)
· Household Appliances Target Savings Account (HATSA)
· Save and Grow Education Savings Account (SAGESA)
· Retirement Savings Account (RESA)
· Home Ownership Savings Account (HOSA)
· Vacation Savings Account (VASA)

Share Acquisition Savings Account (SASA)
This is a savings account, which enables one to save towards the acquisition of shares of blue chip companies. Customers have the opportunity of borrowing to augment his savings balance to consummate investment opportunities.

Features/Benefits
v Minimum opening and operating balance of N5,000
v Minimum monthly deposit of N2,000
v Minimum tenor of 6 months
v Interest rate is higher than normal savings interest rate.
v Shares certificate can be used as collateral for in-house credit facility.

Artisan/Apprentice Savings Account (AASA)
This type of savings account enables an apprentice to save towards graduation and to buy the tools and equipment that will be required to set up business without stress.

Features/Benefits
v Minimum opening and operating balance of N2,500
v Minimum monthly deposit of N2,000
v Gift items to be given to account holders on the day of graduation/freedom
v Interest rate is higher than normal savings interest rate.
v Minimum terror of two years.

Marital Savings Account (MASA)
A savings account that enables young intending couples to save towards their wedding and to set up their homes.

Features/Benefits
v Minimum opening and operating balance of N10,000
v Minimum monthly contribution of N5,000
v Interest rate is higher than normal savings interest rate.
v Wedding gift to account holders.

Xmas/Sallah Savings Account (XSSA)
This savings account enables one to save towards the Xmas or Sallah festivals depending on one's religion.

Features/Benefits
v Minimum opening and operating balance of N3,000
v Minimum monthly deposit of N2,000
v Interest rate is higher than normal savings interest rate.
v 4 top customers to win festival gift
v Minimum tenor of 6 months

Pilgrimage Savings Account (PISA)
This savings account enables the beneficiary to save towards holy pilgrimage to Mecca or Jerusalem. Intending pilgrims that hitherto could not go for Holy Pilgrimage due to financial constraint will be in a strong position to approach the Bank for further financial assistance within the credit policy of the Bank.

Features/Benefits
v Minimum opening and operating balance of N25,000
v Minimum tenor of 6 months
v Interest rate is higher than normal savings interest rate
v Customers with average monthly balance of N300,000 for six months will qualify for a gift item
v Minimum monthly deposit of N5,000
v Life assurance cover during pilgrimage for depositors with a minimum balance of N200,000 for at least 3 months    before pilgrimage.

Household Appliances Target Savings Account (HATSA)
This type of savings account enables the beneficiary to save towards acquiring new household items and state-of- the-art home appliances. The bank will also be willing to provide further assistance if savings is insufficient at the end of its tenor through our popular product – Wema Assets Acquisition Scheme (WAAS).

Features/Benefits
v Minimum Opening and operating balance of N5,000
v Minimum monthly deposit of N5,000
v Bonus interest of 1% p.a. for non-withdrawal during the target period
v Interest rate is higher than normal savings interest rate.
v Minimum tenor of six months.

Save and Grow Education Savings Accounts (SAGESA)
This savings account enables the beneficiary to save towards his/her wards educational development.

Features/Benefits
v Minimum opening and operating balance of N2,500
v Book subsidy for account holders with average annual balance of N100,000 for 6 consecutive months.
v Interest rate is higher than normal saving interest rate.
v Career guidance/Counseling benefits
v Purchase of bank draft for school fees/examination form without charges

Retirement Savings Account (RESA)
This type of savings account allows one to prepare for his/her retirement in the future. It is a futuristic kind of savings.

Features/Benefits
v Minimum opening and operating balance of N10,000
v Attractive interest at 1% above normal savings interest rate
v Monthly minimum contribution of N2,500
v Default charges of 10% of the accrued interest incase of withdrawal or termination of deposit before retirement.
v Lodgement of Dividend Warrants
v Free investment advice on request.

Home Ownership Savings Account (HOSA)
A savings account that enables the beneficiary to save towards acquiring a house. It affords holders of this type of account opportunity to enjoy Bank’s support to compliment their account balance when buying property of their choice.

Features/Benefits
v Minimum opening and operating balance of N25,000
v Minimum monthly deposit of N5,000
v Minimum tenor of 1 years
v Negotiable interest rate within the dictates of prevailing money market rates
v Achievement of 50% contribution of cost of building qualifies contributors for Bank’s financing of the remaining    amount if Bank’s stated conditions for credit consideration are met, while the amount is repayable over a    maximum period of 24 months.
v Collateral for in-house credit facility

Vacation Savings Account (VASA)
This savings account enables one to save for vacation and go to places of interest within and outside the country during one’s holiday.

Features/Benefits
v Minimum opening and operating balance of N20,000
v Attractive interest at 1% above normal savings interest rate
v Monthly minimum contribution of N5,000
v Default charges of 15% of the accrued interest incase of withdrawal or termination of deposit.
v Minimum tenor of six(6) months.
v Lodgment of Dividend Warrants.

Target Audience For The Various Products
· Business tycoon
· Students of tertiary institutions
· Traders’ Associations and Apprentices of various occupations
· Retirees
· Employees of Oil companies
· Executives of Multinationals
· Executives and Employees of Banks and Insurance companies
· Employees of parastatals e.g. NEPA, NNPC, NITEL etc
· Self employed high networth individuals etc.

Overall Benefits To Customers
· Flexible (Opening and Operation)
· Encourages savings culture
· Personalized Savings products
· Good yield
· Access to credit facility