What is Savings Bank Account or what is a Savings Account? Savings Bank Account is a type of Bank Account that allows its holders to keep money in the Bank. People who are saving for a project, event or goals usually make use of this type of Bank Account.
Typical examples of persons who uses savings account are, a Student who is saving to pay for his/her tuition fee. A Father who is saving to buy a new Home for the Family and a Single mum who is planing on getting a new car for the family.
There are lots of Savings Account available today.In Nigeria alone there are over Ten(10) different types of savings account that fits almost anyone. But why should you consider getting a savings account. Well there are numerous reasons but we’ll discuss just few.
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Table of Contents
Why Get A Savings Bank Account
- Ease of use
- Access to internet banking
- Helps you to save for the future
- High interest rate for most of the savings account. Example of such savings account with high interest rate is Faxed Deposit Savings Account, Target Savings Account and Evergreen Savings Account for the Aged citizens.
- Easy to create and operate
- Cost of creating, operating and maintaining a Savings Account is relatively low.
- Access to debit card
- Cashless banking(mobile Banking, Internet Banking, POS etc).
- Loan facilities available for Savings Account holders.
General Features And Benefits Of Savings Bank Account
- There is a 100% Capital Protection and Preservation.
- Some Savings Account attracts a zero management and transaction charges.
- Even the Non-customers are allowed to own a Savings Account.
- Your money never sleeps in a Savings account, in some cases you are earning interest at 4.2% and growing steadily even while you sleep.
- Counting cash is so 1990. Embrace the future with cashless banking via ATM, Mobile, POS and Web.
- Sometimes you get to enjoy exclusive discounts and periodic promotions from our partner merchants to help you get more out of life.
- Be the first to know when transactions occur on your account via email and SMS transaction alerts.
General Requirements To Open A Savings Account
- Duly completed account opening form(This can be obtained at the branch of the bank nearest to you).
- A valid means of identification: International Passport, Voter’s Registration Card, Driver’s license, or National ID.
- Your SSN(Social Security number) for United States citizens
- Means of Address verification.
- Recent passport photographs.
- Residence Permit (where applicable).
General Ways To Open Savings Account
There are at the least two ways to open this type of Account. First you use the online platform of these Banks to open your account within minutes. You’d be surprise how easy it is to get your Savings Bank Account. Please click any of the link below for s Step by Step guide on how to open a Savings Account from the Banks below
United State Banks
Loans, Internet Banking And Mortgage Options
Access Bank Plc
How to Open An Access Bank Account From Home
FirstBank of Nigeria
How To Open A FirstBank Account Within Few Minutes
How to Open A UBA Bank Account From Home Within Minutes
How To Easily Open A Zenith Bank Account From Home
You can also decide to visit the branch of the Bank and open it personally. United States Banks like Wells Fargo, Chase, Bank Of America, CiTi Bank have branches across the United States. While in Nigeria, Access Bank, GTBank, UBA, Zenith Bank and FirstBank of Nigeria also have branches across Nigeria.
A Savings Bank Account will no doubt help you in many ways. Anywhere you are in the world visit a bank close to you and open a savings account today.Please share our articles on Facebook and Twitter using the share button below.