Sponsored Links
Home Banking Best Banks To Open Savings Account For Kids In Nigeria 2023 

Best Banks To Open Savings Account For Kids In Nigeria 2023 

Sponsored Links

Every parent must set their children up for a lifetime adventure to be successful by giving their children the best beginning in their lives. One way to reach this goal is by helping your children develop and manage a solid saving habit.

These are the top 11 banks to open a savings account for children in Nigeria. This is a comprehensive report, so you’ll have to take your time reading it before deciding which bank you’d like to create accounts for your kids with.

  1. GTBank GTBank Smart Kids Save (SKS) account
  2. First Bank — KidsFirst along with MeFirst account
  3. Zenith Bank – Zenith Children’s Account ZECA
  4. FCMB – Kids Account
  5. Access Bank – Early Savers
  6. Unity Bank – Unity Kids savings account
  7. Polaris Bank – Rainbow Account
  8. Stanbic IBTC – CHESS account
  9. UBA – Kiddies and Teens Account
  10. Sterling Bank – I can save
  11. Wema Bank – Royal Kiddies savings account

1. GTBank

GTBank is among the best banks to open savings accounts for kids in Nigeria. They provide Smart Kids Save (SKS) accounts for children ranging from the age of up.

Smart Kids Save is a savings account for children. Smart Kids Save account is created to allow parents and guardians to save money for their children who are under 18 years of age while also establishing the habit of saving.

Benefits and features that come with GTBank Smart Kids

  • Minimum opening balance/account balance N1,000.00 (One Thousand Only).
  • Attractive interest rates start at 1.15 percent (the greater the amount you can save the more you earn)
  • Allows the lodgment of drafts, cheques, and dividends into the account up to a maximum limit of N1,000,000 for each instrument
  • Regular payments can be placed into the account via Standing Order or automated direct debits.
  • A free invitation to SKS Fun events
  • SKS could be converted to current or regular savings accounts and current accounts, with the child saver acting as an authorized signatory. This can be done only once the Smart Kid saver has reached the age of 18 years old.
  • At the age of 13, the SKS Teen account will be created for the teen. It includes the Trendy Teenager MasterCard (issued at the request of the parent) to help the child learn how to manage money effectively.


  • One passport photo of the person who signed the document and Smart Kid.
  • Valid ID card for every person who is a signatory (International Passport National Driver’s license, National ID Card).
  • Utility bill
  • Copy of Smart Kids Birth Certificate.

GTBank Smart Kids Save (SKS) account is available to two age categories:

SKS for children ages 0 to 12

SKS Teenage for ages 13-17

It is a must to open an account. SKS Teen account is automatically created at the time that your Smart Kid reaches the age of 13.

Open Smart Kids Account Now

2. First Bank

First Bank offers two different savings accounts for children.

  1. KidsFirst for children aged from 0 to 12 years old and
  2. MeFirst for ages 13-17 17 and beyond.


With First Bank’s savings account for children, You can help put your kids on the road toward financial independence.

KidsFirst savings accounts are savings accounts specifically for children in Nigeria with First Bank. It is specifically designed for kids from ages 0 and 12 to instill in children how thrilling savings can be.

Through this bank account, your child can enjoy exciting activities like fun movie events, treasure hunts, and much more all through, thanks to FirstBank.

KidsFirst Features

  • The account is set up under the name of the child and is managed by the parent/guardian.
  • Zero account opening balance
  • Automatic Transition Automatic Transfer MeFirst account once the child reaches 13 years of age.
  • The ease and convenience of online banking
  • Up to N2 million may be deposited into the account.
  • A trendy present for your child once the account has been created with a minimum deposit of N10,000.
  • Standing order to pay tuition/other charges.
READ ALSO:   UBA Graduate Trainee Salary


MeFirst savings accounts for teenagers help them accept the concept of financial responsibility at an early age while keeping them engaged and entertained.

Teenagers aged 13-17 learn about money in fun and exciting ways by gaining benefits from the opening of this bank account.

MeFirst Features

  • Accounts are opened under the name of the child, but it is managed by the parent or guardian.
  • Zero account opening balance
  • Automatically switch to XploreFirst Account at the time that the teenager reaches an age threshold of 18
  • Child’s pre-paid credit card (in five design options) Parents or guardians can add allowances for the week or month.
  • Checks and Dividend warrants are lodged in the account

How do you apply to KidsFirst and MeFirst savings accounts for children or teenagers

Here’s how you can apply for an account at a bank for children using FirstBank

  1. To apply for an account with a KidsFirst Account visit any FirstBank branch in your area or call:
  2. +234 700 FIRSTCONTACT (+234 700 34778 2668228), +234 708 062 5000, +234 1 448 5500

3. Zenith Bank

One of the top banks to open savings accounts specifically for kids (kids) within Nigeria, Zenith Bank offers savings accounts for children, referred to under the term Zenith Children’s Account (ZECA)

Zenith Bank Children’s Account Zenith Bank Children’s Account is an exclusive savings account that was designed to let parents save (in dollars or Naira) to ensure their children’s financial future, and also teach children about saving from the earliest age.

The account is designed with two levels for teenagers and children with the overall goal of making saving enjoyable for them while teaching them about financial discipline.

Zenith Children’s Account for Kids (0 – 12)

ZECA kids account is structured in two levels for adolescents and children, with an overall goal of making saving enjoyable for them as well as teaching them about financial discipline.

ZECA kids Features

  • A special account designed for children 0-12 years old.
  • Zero account opening balance
  • The interest rate of 1.15 percent
  • Standing order credit option
  • Draft, cheque, and dividends
  • Invitation to join the Annual Zenith Children’s Parade*
  • Take part in drawing for the Children’s Day Scholarship raffle draw*

Zenith Bank Children’s Account for Teens (13 – 17)

Zenith Teens account is an account that is a next-level account for teenagers aged between 13-17 years old.

The Zeca Teens account holders get all the benefits of Zenith Children’s Account as well as a Naira MasterCard (a credit card that is prepaid and given to parents upon request) which allows the child to start responsibly taking control of money.

ZECA Teens Features

  • An account designed specifically for children aged between 13-17 years old
  • Zero account opening balance
  • Rate of interest at 1.25 percent
  • Standing credit option for orders, Draft, cheque, and dividend settlement
  • Customized ZECA Teen Card
  • Invitation to participate in the Annual Zenith Children’s Parade
  • Participants in a raffle draw for the Children’s Day Scholarship raffle draw

Zenith Children’s Account (Zeca) Requirements

To create an account with ZECA savings account for their children parents must provide the following documents

  1. Birth certificate of the child.
  2. The photo of the child’s passport.
  3. A passport photo of either or both parents.

Zeca account opening form

You can sign up to open a Zenith Children’s Account. Here’s the Zeca Account opening form.


Children account is an investment account that was designed for children aged between 0 and 17.

FCMB Kids account encourages healthy savings habits from an early age and also helps with money management. It is a naira-based account.

Benefits and Features

  • The balance of the opening account is N5,000.
  • A non-clearing type of cheque withdrawal book intended for withdrawal by the account holders only.
  • A minimum operating balance over $2,000
  • Free transactional notifications via E-mail
  • Birthday cakes for free
  • Free ATM cash box*
  • Earn N10,000 monthly for 10 years with Kids Promotion of pocket money in your account


To create an account for a Kid Account Customers must submit the following information:

  • Form for opening a new account.
  • 1 passport photo of the parent/guardian
  • 1 passport photo of the child
  • Other (If the client wishes to pay by clearing cheques)
  • International passport, Driver’s License or National ID card, Voters Card, and Residence Permit (for immigrants) must be presented by the parent or guardian.
  • The birth certificate for the baby.
  • Verification of address e.g. Utility bill, bank statement from recently, or tax bill from the local authority, etc.

Create an account for your child with FCMB today.

READ ALSO:   Unity bank transfer code, ussd to check balance, account number & activation

5. Access Bank

It’s never too late to start learning about the benefits of saving. AccessBank offers an Early Savers bank account for children and teens. It is a savings plan designed specifically for children who are on their 18th birthday and includes unborn children.

This account is opened through the parents (in trust) for their children. The children then become principal account holders and jointly operate the account until the children are adults.

Instill financially-literate children at the age of one, and you guide them to become responsible adults.

Early Savers Features

  • A minimum opening balance equal to N1,000
  • Zero minimum daily balance
  • Rate of interest of 1.15 percent p.a.
  • Allow the deposit of dividend warrants as high as $10,000 (a/c payment only)
  • The account is created by the parent and is held by the child in trust until the child is old enough to run the account.
  • Allows direct debit instruction

Early Savers Benefits

  • Chance to be the only one to attend these Access Early Savers events.
  • Membership of the Early Savers Financial Literacy Club
  • Unrestricted Access to the Early Savers Microsite via https://earlysavers.accessbankplc.com
  • Free Early Savers Quarterly newsletter.
  • The issuance of dividend warrants in the name of a child is permitted (subject to the limit lfoff0 1,000).
  • School fees are paid in advance (for parents)
  • Savings by utilizing standing order instructions
  • The account is up and running and is full-time.

Early Savers Requirements

  • Completed and signed the account opening form
  • Proof of Residence
  • KYC Documentation for the child and the guardian
  • A valid proof of residency
  • Visitation report
  • AML risk assessment for the guardian
  • 1 passport photographs for parents/guardians and children/ward
  • The parent’s identification method. Note: A valid form of Identity with the same address as mentioned on the opening document serves as both identification and a means of address verification.
  • Birth certificate of the beneficiary(child)/International Passport
  • Parent/ Guardian’s BVN

Open Access Bank Early Savers Account now

6. Unity Bank

Unity Kids savings account is specifically designed for teens and children under the age of 18. It gives parents and guardians the chance to save funds for their children.

Unity Kids Features and Benefits

  • Attracts attention
  • Automatically converts to major when the child reaches 18 years old.
  • Encourages saving and good banking habits that are inherited from early childhood

To open an Unity Kids account you have to visit the closest Unity Bank to you.

7. Polaris Bank

Polaris Rainbow Savings Account is an account specifically designed by a bank specifically designed for children (0 to twelve years of age) with parents/guardians serving as trustees for the account up to the child turns 18 years old. older. The account was designed to help build a sense of banking among youngsters in a fun and engaging manner starting at the age of.

Benefits and Features of Polaris rainbow savings account

  1. Accounts are opened under the name of the child and are managed by the parent or guardian.
  2. Minimum operating and opening balance of N1,000.00
  3. Interest rates on savings competitive
  4. Automatic transfer into Polaris Young Achievers Account at the age of 13, and SMS/Email alerts to parents/guardians.
  5. Issue of debit cards
  6. The deposit of cheques or dividend warrants (in the name of the child) for up to N2 million
  7. The ability to save consistently by standing instruction from the Benefactor account
  8. Access to digital channels

The requirements required for Polaris Rainbow savings accounts

  1. One recent Passport photo of the parent, and One recent Passport photo of the child
  2. Bank Verification Number (BVN)
  3. Document proving the age of the infant (Int’l Passport Birth Certificate, Birth Certificate, or notification of birth)
  4. Valid identification documents (Int’l passport, driver’s license, or National ID Card for Voters)
  5. Proof of address (PHCN water bill, waste disposal bill, tenement, etc.)
  6. Permit to reside (for expatriates)

Register now

8. Stanbic IBTC

Stanbic CHESS is a bank account for children in Nigeria that helps every dollar be counted for both you as well as your kid.

The benefits and features of Stanbic savings account for chess

  • A bank account that can manage your child’s savings, whether for educational costs, additional classes, or just to learn about money.
  • A rate of interest of 1% higher than the average savings account
  • Forfeiture of 1% of interest when there is more than one withdrawal in a quarter. Also, the loss of savings rate when the bank has more than four withdrawals within a month.
  • MasterCard debit card to have easy access to your cash
  • 24/7 access to the Customer Care Centre via email, phone as well as social networks.
  • Access to banking in full digital format via the app, internet, and USSD
  • The payment of cheques and the division of warrants is only possible when KYC requirements are met

Specific requirements to Stanbic IBTC Chess account for children.

  • The minimum opening balance is N2000.
  • Application form
  • Birth certificate of the child
  • Two recent passport pictures of the child
  • Two recent passport pictures of the parent
  • A valid ID from the parent
  • Two reference forms are required to facilitate payment by cheque (Optional)
READ ALSO:   UBA transfer code (USSD to send money to UBA & other banks)

9. UBA Kiddies and Teens Account

Kiddies account

The account is an investment account designed for youngsters from UBA. It’s the time to get beyond piggy banks. The UBA Kids Account lets parents begin saving money for their kids from the moment they’re born. Then, as they get older teach them about savings and money.

The UBA Kiddies Account is designed for children from zero to 12 years old. Parents or guardians manage accounts on behalf of their children.

UBA Kiddies account is available in two versions – Full and Light.

Teens Account

The UBA Teens account is designed for teenagers aged 13-17 years. Parents or guardians manage the account on behalf of their child. The account is available in two different versions: Full and Lite.

As your kids become teenagers, it is important to provide them wan amountuntt of freedom that is necessary for them to develop and establish their uniqueness.

UBA Teens account exists to help with this goal. It is designed to give your teenagers some financial freedom to let them imagine, learn and grow into the perfect adult.

UBA Kiddies and Teens Account Features & Benefits

  • Earn the 13th Month Reward of 10 percent of the savings plan that is completed for 12 consecutive months, that have maintained a Standing Instruction that is at least N5,000.
  • The chance to participate in the scholarship program through drawing a raffle if you have complied with a Standing Instruction minimum of N10,000 for six consecutive months.
  • An annual interest rate of 1.15 percent (payable per month)

UBA Kiddies and Teens Account Requirements

  • Birth certificate of the child or International Passport
  • 1. Passport Photograph every parent/guardian and the child
  • Valid ID of the parent (National Identification/Driver’s License or Permanent Voters card or International Passport)
  • Utility bill within 3 months of account opening date.

Open UBA Kiddies/Teens Account Now

10. Starling Bank

Don’t allow your child to grow to be a shopper and learn the art of saving using their account.

Starting at a young age
is the latest way to live.

At a young age, children are the recipients of gifts of cash from their generous family members. Sometimes, we get annoyed and wish we could have a swap. Don’t let your child develop into a person who is a spender and teach them how to save with your account. Starling Bank offers one of the most efficient savings accounts for children in Nigeria.

Starling’s features allow you to save savings accounts

  • The minimum balance for opening a new account is N2,000
  • Minimum daily balance of N1,000
  • Allows cheques to be lodged and dividend warrants.
  • The issue of debit cards and SMS alerts.The incentiveincentive000 for beneficiaries who have all A’s in SSCE/Cambridge O’level at least 8 subjects at one time.
  • Lets cheques be lodged and dividends up to N2 million daily limit.
  • Instant Debit Card at your doorstep
  • Intriguing interest rates.
  • Credit facility for school fees
  • The balances of N50,000 and over attract interest at 1 percent p.a.
  • The account is managed by a parent/guardian on behalf of a minor.

The requirements for Starling I can save my account

  • Parent’s/Guardian’s Valid Means of Identification.
  • A recent passport-size photo of each of the minors and parent/guardian.
  • Birth certificate of the minor/international passport or proof of age.
  • 2 satisfactory references (Only required if you are planning to transfer a cheque over N2 million to the bank account).
  • A utility bill was issued in the past 3 months.

11. Wema Bank

Children can get an early start towards financial freedom at Wema Bank with our Royal Kiddies Account specifically designed for children youngsters ranging from 0-12 years old.

The creation of an account with Royal Kiddies account for your children allows you to access the ability to advance school fees, scholarships, and life insurance to help fund their education.

Features of Royal Kiddies Account

  • The account is managed by the parent/guardian, who may or not have an account with Wema Bank
  • The minimum balance opening requirement is N2,000.
  • A competitive interest rate (2.15%))
  • Limited withdrawals – Maximum of 1 withdrawal per month to qualify to receive interest
  • The use of dividend warrants and cheques that are in the name of a child is permitted
  • There is no debit card issued for this account.
  • The Royal Kiddies e-purse will be offered upon demand.

Benefits of Wema Royal Kiddies Account

  1. Helps parents save money for their children’s future.
  2. It helps to teach children the importance of saving at an early age. It also allows the child to learn about financial avenues via using the Royal Kiddies e-purse.
  3. Ensures that the child’s education continues in the event of the death of a parent or guardian.
  4. Creates standing orders to save regularly from parents’/guardians’ accounts for the payment of school fees.
  5. A higher interest rate than a traditional savings account.
  6. The Annual Wema Educational Award
  7. Alerts to transactions by SMS and/or E-mail

Requirements for Wema Bank Royal Kiddies

  • Completed and signed account opening form with signature-mandated card
  • A copy of the National ID card, Driver’s License ID of the voter, Driver’s License ID as well as an International Passport of the account administrator (parents/guardian)
  • 1 passport photograph for the parent/guardian, child/ward, and an alternative administrator
  • BVN of the administrator and Alternate administrator (Where appropriate)
  • Birth certificate or school ID for a child
  • The copy of your utility bill (Water electric, waste, or phone) made within the last 3 months.

Open Wema Bank Royal Kiddies Account Here



Sponsored Links

Leave a Reply