What Is Polaris Bank Rainbow Savings Account
Polaris Bank Rainbow Savings Account is the account type meant for children between the ages of 0-17.This account is managed by the parents/guardians until the child/children comes of age to handle the account.
The competition to opening a savings Account for young ones is getting tougher. Polaris Bank have introduce a new Savings Account the age 0-17. The Polaris Bank Rainbow Savings Account is meant to help parents/guardians instill in their children the importance of Savings from an early age.
Unlike regular savings account, the Rainbow Savings Account provide much more in terms of interest rate. It also gives room for account holders to have access to some features related to regular savings account. Please read more about this wonderful savings account type from Polaris Bank of Nigeria.
Features and Benefits Of The Polaris Bank Rainbow Savings Account
- It requires an opening and minimum operating balance of N1,000
- Special Interest of up to 1% above regular savings account rate
- Issuance of debit card on parents/guardian request
- Provides the opportunity to save regularly with Standing Order
- Opportunity to participate in special competitions to win exciting prizes
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Requirements To Open The Polaris Bank Rainbow Savings Account
- Duly completed account opening application form
- Signature mandate card
- Two (2) recent identical passport photographs of parent(s) and child
- Valid Means of identification of parent (International passport, driver ‘ s license, National ID, Voter ‘ s card).
- Utility bill (PHCN, Water bill, Waste disposal bill, Rent Receipt, tenancy Agreement, Tenement Rate, Government Issued ID Card with Holder’s Address etc.)
- Proof of Age document (Notification of birth, Birth Certificate or International Passport)
Who Can Apply
Parents/Guardians can apply on behalf of their children who are between the ages 0-17 years.
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How To Open Polaris bank Rainbow Savings Account
Fill a Polaris Bank account opening application form
Complete the form and with the accompanying documents, submit at the nearest Polaris Bank branch. You can also easily open this account type Online.
It seems Nigerian Banks are taking children into consideration and its a good thing. We also have other Savings Account types lined up from UBA Bank, Access Bank, FirstBank, GTBank and Zenith Bank. You can check them all out and select anyone of your choice.
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