Other Services
Children Trustee Savings Account
At Anioma Microfinance Bank, we believe in securing a bright future for the next generation. The Children Trustee Savings Account is designed to help parents, guardians, and trustees save towards the future of their children. This account ensures that your child’s financial journey starts on the right foot, with savings that can be used for their education, health, or other needs as they grow. It’s a thoughtful and structured way to build a financial foundation for your child's future.
Features/Benefits
The Children Trustee Savings Account at Anioma MFB is a dedicated savings account managed by a parent, guardian, or trustee for the benefit of a child. This account allows regular deposits, helping to accumulate funds for the child’s future expenses, such as education or other developmental needs. It is designed with flexible terms and attractive interest rates to encourage steady savings while ensuring that the funds grow over time.
- Trustee-Controlled: The account is managed by the trustee (parent/guardian) until the child reaches a specified age, at which point the child can take over control.
- Competitive Interest Rates: Earn attractive interest rates on savings, ensuring the funds grow steadily over time.
- Flexible Deposits: Make regular deposits at your convenience, whether daily, weekly, or monthly.
- No Hidden Fees: Enjoy transparent account management with no hidden fees or charges that reduce your savings.
- Secure Savings: The savings are secure and insured, providing peace of mind that the child’s future funds are protected.
- Trustee-Controlled: The account is managed by the trustee (parent/guardian) until the child reaches a specified age, at which point the child can take over control.
- Easy Account Management: Parents/guardians can easily manage the account through our digital banking platforms or by visiting any Anioma MFB branch.
- Eligibility for Scholarships and Educational Loans: Regular savings may qualify the child for scholarships or educational loans offered by Anioma MFB in the future.
- Future Financial Security: The Children Trustee Savings Account ensures that funds are available for important milestones in your child’s life, such as education or health needs.
- Parental Control: As a parent or guardian, you have full control over the account until the child reaches a predetermined age, allowing you to ensure the funds are used responsibly.
- Educational Support: The funds can be used to support your child’s educational journey, providing financial peace of mind as your child grows.
- Long-Term Savings Growth: With competitive interest rates, your child’s savings grow steadily over time, maximizing the value of your contributions.
Account Opening Documentation
Parent/Guardian Identification:
A valid means of identification for the parent or guardian acting as the trustee (e.g., National ID, International Passport, Driver’s License, or Voter’s Card).
Child’s Identification:
A copy of the child’s birth certificate or an affidavit of birth.
Proof of Address (Parent/Guardian):
A recent utility bill (not older than 3 months) or any other valid document confirming the current residential address of the parent or guardian.
Passport Photographs:
Two recent passport-sized photographs of both the parent/guardian and the child.
Completed Account Opening Form:
A fully completed Children Trustee Savings Account opening form, which can be obtained at any Anioma MFB branch or via the bank's website.
Initial Deposit:
A minimum opening balance is required to activate the account. The minimum deposit amount will be specified by Anioma MFB at the time of account opening.
Proof of Relationship:
Any legal documents that verify the relationship between the trustee (parent/guardian) and the child, such as court orders (in the case of legal guardianship).
Trustee’s Employment Information (if applicable):
A letter of employment or any proof of employment and income, which may be required for future eligibility for certain benefits (e.g., educational loans, scholarships).
Consent Form (if applicable):
For cases involving legal guardianship, a consent form from the appropriate authority or parent may be required.
Bank Verification Number (BVN):
BVN of the parent/guardian managing the account.
Any other rquirement?
Yes, Resident permit (for expatriates).
Reference forms (only required to allow customer pay in other banks’ cheques)
