Royal Kiddies Account
Help Your Kids Develop Good Savings Habit
Children are more money aware and easily develop good savings habits when they have their own savings accounts as kids. Open a Royal Kiddies Account for your children today and let them learn to save early. The account can also help you save towards their education.
- Designed for children aged between Day 1 and 12 Years Old.
- Minimum opening balance of N2,000
- Minimum operating balance of N500
- Free branded welcome pack on account opening
- 1% interest rate above standard savings account
- Withdrawal is limited to once per month otherwise interest is forfeited for the month
- Lodgment of dividend warrants & cheques in the child’s name is allowed (one referee needed)
- No charge for bank draft purchased for payment of school fees for the account holder
- Allows standing order for regular savings (from parent’s/guardian’s accounts) and for payment of school fees
- Eligibility for the annual “Wema Educational Award” for 10 account holders
- Transaction alert available through SMS and/or E-mail
- No debit card is issued on this account
- A virtual card, Royal Kiddies E-Purse, is however available on request. This card is not linked to the account
- Attractive interest rate
- Hitch free and convenient payment of school fees from the dedicated accoun
- Eligibility for the annual “Wema Educational Award”
- Completed account opening form
- Copy of valid ID of the parents or guardian (either of Driver’s License, National ID card, International Passport or Voters Card)
- One passport photograph of the parent or guardian and of the child or ward and alternate administrator*
- Copy of a utility bill (Electricity bill, Waste bill, telephone bill or Water bill issued within the last three months)
- Evidence of birth/birth certificate of the account holder (child)
- BVN
- KYC*An Alternate administrator is an individual nominated by the account administrator (parent or guardian) to perform his/her functions in case of death or permanent disability of the administrator before the child attains the age of maturity. This individual completes the account opening form from the beginning of the relationship with the bank.
