Compare Savings Accounts in Nigeria
Identify your saving objectives and receive tailor-made plans for your specific needs.
Editor's Picks
What are your savings objectives?
Our Children’s Savings Account cultivates healthy financial habits that can shape your child’s future. Watch your child’s savings grow with competitive interest rates that ensure their funds flourish over time.
What are your savings objectives?
Our Children’s Savings Account cultivates healthy financial habits that can shape your child’s future. Watch your child’s savings grow with competitive interest rates that ensure their funds flourish over time.
Savings 101
Choose the best Savings product for you
View Eligibility Criteria
Personal Savings Account
Eligibility criteria
- Be 18 years of age or older.
- Have a valid form of identification such as a National ID card, driver’s license, or international passport.
- Have an active and valid Nigerian bank account.
- Have sufficient funds available in your account to cover the initial deposit amount required by the financial institution for opening the fixed deposit account.
- Provide proof of address such as utility bill or other official document that confirms your current residence.
Please note that eligibility criteria may vary depending on the financial institution.
It’s important to go over the criteria specified by the financial institution you choose.
Application requirements
- Bank Verification Number.
- Passport photograph.
Valid means of identification (Int’l passport, Driver’s license, National ID, Voter’s card). - Proof of Address (PHCN, Water bill, Waste disposal bill, tenement, etc.).
- Proof of income (payslips/bank statements).
Please note that requirements may vary depending on the financial institution. It’s important to go over the requirements specified by the financial institution you choose.
View Eligibility Criteria
Fixed Deposit Account
Eligibility criteria
- Be 18 years of age or older.
- Have a valid form of identification such as a National ID card, driver’s license, or international passport.
- Have an active and valid Nigerian bank account.
- Have sufficient funds available in your account to cover the initial deposit amount required by the financial institution for opening the fixed deposit account.
- Provide proof of address such as utility bill or other official document that confirms your current residence.
Please note that eligibility criteria may vary depending on the financial institution.
It’s important to go over the criteria specified by the financial institution you choose.
Application requirements
- Bank Verification Number.
- Passport photograph.
- Valid means of identification (Int’l passport, Driver’s license, National ID, Voter’s card).
- Proof of Address (PHCN, Water bill, Waste disposal bill, tenement, etc.).
- Proof of income (payslips/bank statements).
Please note that requirements may vary depending on the financial institution.
It’s important to go over the requirements specified by the financial institution you choose.
View Eligibility Criteria
Children’s Savings Account
Eligibility criteria
The child must:
- Be between the ages of 0-17 years old.
- Have a valid form of identification, such as a birth certificate or national ID card.
- Have a parent or legal guardian who is willing to act as custodian of the account until the child reaches 18 years of age.
- The parent or legal guardian must open the account on behalf of the child and provide all necessary documents required by the bank, such as proof of address and income.
- A minimum deposit is usually required to open the account; this amount may vary depending on the financial institution offering the savings account.
Some institutions may require additional documentation from parents or guardians depending on their individual policies and procedures. So, it is important to check with your chosen financial institution before opening an account for your child.
Application requirements
- Parent/ Guardian’s Bank Verification Number (BVN).
- Passport Photograph of guardian and child.
- Child’s Birth Certificate/ International Passport.
- Parent’s/Guardian’s Valid Means of Identification.
- Parent/Guardian’s proof of address: utility bills.
- Parent/Guardian’s proof of employment.
Please note that requirements may vary depending on the financial institution. It’s important to go over the requirements specified by the financial institution you choose.
Choose the best Savings product for you
View Eligibility Criteria
Personal Savings Account
Eligibility criteria
- Be 18 years of age or older.
- Have a valid form of identification such as a National ID card, driver’s license, or international passport.
- Have an active and valid Nigerian bank account.
- Have sufficient funds available in your account to cover the initial deposit amount required by the financial institution for opening the fixed deposit account.
- Provide proof of address such as utility bill or other official document that confirms your current residence.
Please note that eligibility criteria may vary depending on the financial institution.
It’s important to go over the criteria specified by the financial institution you choose.
Application requirements
- Bank Verification Number.
- Passport photograph.
Valid means of identification (Int’l passport, Driver’s license, National ID, Voter’s card). - Proof of Address (PHCN, Water bill, Waste disposal bill, tenement, etc.).
- Proof of income (payslips/bank statements).
Please note that requirements may vary depending on the financial institution. It’s important to go over the requirements specified by the financial institution you choose.
View Eligibility Criteria
Fixed Deposit Account
Eligibility criteria
- Be 18 years of age or older.
- Have a valid form of identification such as a National ID card, driver’s license, or international passport.
- Have an active and valid Nigerian bank account.
- Have sufficient funds available in your account to cover the initial deposit amount required by the financial institution for opening the fixed deposit account.
- Provide proof of address such as utility bill or other official document that confirms your current residence.
Please note that eligibility criteria may vary depending on the financial institution.
It’s important to go over the criteria specified by the financial institution you choose.
Application requirements
- Bank Verification Number.
- Passport photograph.
- Valid means of identification (Int’l passport, Driver’s license, National ID, Voter’s card).
- Proof of Address (PHCN, Water bill, Waste disposal bill, tenement, etc.).
- Proof of income (payslips/bank statements).
Please note that requirements may vary depending on the financial institution.
It’s important to go over the requirements specified by the financial institution you choose.
View Eligibility Criteria
Children’s Savings Account
Eligibility criteria
The child must:
- Be between the ages of 0-17 years old.
- Have a valid form of identification, such as a birth certificate or national ID card.
- Have a parent or legal guardian who is willing to act as custodian of the account until the child reaches 18 years of age.
- The parent or legal guardian must open the account on behalf of the child and provide all necessary documents required by the bank, such as proof of address and income.
- A minimum deposit is usually required to open the account; this amount may vary depending on the financial institution offering the savings account.
Some institutions may require additional documentation from parents or guardians depending on their individual policies and procedures. So, it is important to check with your chosen financial institution before opening an account for your child.
Application requirements
- Parent/ Guardian’s Bank Verification Number (BVN).
- Passport Photograph of guardian and child.
- Child’s Birth Certificate/ International Passport.
- Parent’s/Guardian’s Valid Means of Identification.
- Parent/Guardian’s proof of address: utility bills.
- Parent/Guardian’s proof of employment.
Please note that requirements may vary depending on the financial institution. It’s important to go over the requirements specified by the financial institution you choose.
Savings Calculator
Frequently Asked Questions
Frequently Asked Questions
We answered some questions, so you don’t have to ask them
How does a Savings Account work?
When you deposit money into a Savings Account, the bank pays you interest on your balance. You can withdraw funds as needed, making it a convenient way to save for short-term goals or emergencies.
How much interest will I earn with a Savings Account?
Interest rates vary among banks and can change over time. Generally, Savings Accounts offer a lower interest rate compared to other investment options, but they provide security and liquidity for your funds.
What is the minimum amount required to open a Savings Account?
Minimum deposit requirements vary by bank and type of Savings Account. Some accounts may have no minimum, while others could require a specific initial deposit.
Are there any fees associated with a Savings Account?
Some Savings Accounts may have maintenance fees or minimum balance requirements. It's important to review the terms and conditions of the account to understand any potential fees that might apply.
What is the minimum amount required to open a Savings Account?
Minimum deposit requirements vary by bank and type of Savings Account. Some accounts may have no minimum, while others could require a specific initial deposit.
What our users say about us
What our users say about us
Grenadines Homes
August, 2021
One stop shop for everything about loans. Naira Compare will not just helps you compare loans, they also help you secure it. I enjoyed the service.
Taibat Orogho
November, 2022
Just the service I needed. Helps users compare loans and other financial products, and make informed decisions. It is also very simple and easy to navigate!
Promise Ndah
October, 2022
No stress at all, thank you very much, really appreciate.
Okebukunola Wuraola
August, 2021
Makes the loan process very easy. You can compare loans in one place and make decisions.
Stay in the know!
Sign up for our newsletters on exclusive financial offers
By continuing, you agree to our Terms & Conditions and Privacy Policy.
