Union Bank of Nigeria Plc has introduced two products to improve savings culture among kids and teens and groom them to be financially independent.
In a statement by the bank, the products are ‘Union Infinity’ and ‘Union Legend’ accounts.
It said the Union Infinity account for kids aged zero to 12 years and the Union Legend account for teens aged of 13-18 years were designed to cater to the growing needs of parents interested in saving for their children’s future and teaching their kids to save.
The Head, Retail Banking and Digital, Union Bank, Lola Cardoso, said, “We are excited to champion this new and improved proposition for kids and teenagers which will help them achieve their dreams.
“An important part of our role as a bank is to teach and encourage financial literacy and independence and these accounts are very practical ways to do so. We have made it even more rewarding with perks that the kids and their parents can look forward to.
“To open any of the accounts, call your Union Bank relationship manager or walk into any of our branches nationwide and request an account opening form.”
The bank said other benefits of the accounts included lifestyle discounts, milestone rewards, loyalty schemes, insurance cover for education, discounted healthcare packages, customised debit cards, education and social events and a cool community. Parents will enjoy access to financial support to pay their kids fees and up to 3.75 per cent interest on the savings account.