SmartSave Account 2018-05-22T16:33:11+00:00

SmartSave Account

Save Towards a Specific Purpose

While everyone seems to have understood the importance of saving, the ease of accessing saved money makes it hard for people to have a healthy savings culture. Not you; because we have a special savings account for you that enables you to save towards a specific purpose of your choice and earn higher interest return on your savings. Welcome to Wema SmartSave Account.

  • Minimum opening balance and minimum monthly target savings of N5,000 required
  • No minimum operating balance as there will only be incremental deposits on the account with no withdrawals
  • Freedom to choose your purpose of savings, target savings amount and tenor
  • Minimum Saving Tenor of 6 months and Maximum Savings Tenor of 36 Months
  • Interest rate at the normal savings interest rate
  • Interest will be paid monthly, but will accrue on daily balances
  • Bonus interest payment at (20% of interest earned in 3 months) provided the minimum monthly savings target is achieved for each month
  • Withdrawal before target date will lead to loss of bonus interest for the period
  • Accumulated balance can be used as equity contribution or as security for consumer loan
  • Standing order for deposits acceptable
  • Transaction alerts available through E-mail only
  • Competitive interest rate plus bonus interest payment
  • Secure and easy access to funds
  • Access to loan amount up to 75% of account balances at special interest rate
  • Helps customer to meet personal targets
  • Any individual saving towards a particular goal or financial target.
  • Completed account opening form
  • Copy of valid ID (either of Driver’s License, National ID card, International Passport or Voters Card)
  • Copy of Utility Bill (Electricity bill, Waste bill, telephone bill or Water bill issued within the last three months)
  • One passport photograph
  • BVN
  • KYC

Open a SmartSave Account Now

*see product features for additional details

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