UBA is one of Nigeria's popular banks that offers its customers Tier 2 savings accounts. The features and benefits associated with the Tier 2 savings account offered by United Bank for Africa (UBA) in Nigeria include:

Requirements

GTBank offers a Tier 2 savings account through its GTCrea8 e-Saver's account, designed especially for young adults and students, but available to others who meet the documentation requirements. Below are the features and benefits you can enjoy when you open a Tier 2 savings account with GTBank:

GTCrea8 eSavers account benefits

Requirements

GTSave benefits

Requirements

Access Bank is one of Nigeria’s leading financial institutions, and its Tier 2 savings account, also known as Instant Savings (Instant Savings 2), is designed to bridge the gap between basic and full-service accounts. The features and benefits of this account include:

Features

Benefits

Requirements

Wema Bank’s Tier 2 account is designed for individuals who may not have conventional identification but still want access to modern banking. Here are the key features and benefits associated with the Wema Bank Tier 2 savings account.

Features

Benefits to customers

Requirements

Zenith Bank is another Nigerian bank that offers Tier 2 savings accounts. Products available include EaZySave Premium Account and Aspire Account which align with the Central Bank of Nigeria's (CBN) Tier 2 classification.

EazySave Classic account

The EazySave Classic account is a simple bank account for people with little or no ID, making it easy to start saving and enjoy basic banking services.

Features and benefits

Requirements

EazySave Premium Account

The EazySave Premium Account is a simple account that helps more people access banking, even with a limited ID, while offering useful banking benefits.

Features and benefits

Stanbic IBTC Tier 2 savings account is ideal for students, small business owners, or individuals looking for a simple and quick way to start banking. Below are the features, benefits and requirements of the Stanbic IBTC Tier 2 Savings Account, based on the official account opening form:

Features (Tier 2 Account)

Requirements

First Bank offers a Tier 2 savings account, known as the FirstInstant Plus. Here is a full overview of its features and requirements:

Features and benefits

• Access to digital banking through online banking, USSD (*894#), and the FirstMobile app.
• You get a debit card instantly as soon as you open the account.
• Transaction alerts via SMS and/or email.
• Cheque and dividend warrant lodgement allowed.
• The account can also be operated as a Salary Account.
• There are no limits to the number of withdrawals you can make from the account in a month.
• Easy upgrade path to Tier 3 accounts when full KYC and higher limits are needed.

Requirements

• Completed Tier 2 account opening form.
• Valid means of identification.
• NIN or BVN.
• Voter's card, driver’s license, passport, student ID, tax ID, etc.
• Utility bill or proof of address (may be self-certified).
• Two passport-sized photographs.

Tier 2 banks in Nigeria are mid-sized banks like Fidelity Bank, Wema Bank, Polaris Bank, Unity Bank, and Heritage Bank, which operate under lower capital bases compared to Tier 1 banks.

A Tier 2 Kuda account can hold up to ₦500,000 in total balance, with a maximum single deposit of ₦200,000.

What is the maximum single deposit amount for a Tier 2 account?

The maximum single deposit for a Tier 2 account under current Central Bank of Nigeria guidelines is ₦200,000, though many banks set a limit of ₦100,000 per deposit on their Tier 2 savings accounts.

Tier 2 savings accounts in Nigeria offer more flexibility than Tier 1 accounts, allowing higher transaction limits and moderate KYC requirements. Banks like Zenith Bank, Wema Bank, Access Bank, and UBA offer Tier 2 accounts with features such as interest earnings, debit card access, and mobile banking.

DISCLAIMER: This article is not sponsored by any third party. It is intended for general informational purposes only and does not address individual circumstances. It is not a substitute for professional advice or help and should not be relied on to make decisions of any kind. Any action you take upon the information presented in this article is strictly at your own risk and responsibility!

Legit.ng recently published an article about the requirements for opening a bank account in Nigeria. Opening a bank account in Nigeria can be a straightforward process as long as you have the necessary documents and information.

Some of the key requirements needed are your Bank Verification Number (BVN), a valid identification, and proof of address. Explore the basic requirements for opening a bank account in Nigeria and the step-by-step process.

Source: Legit.ng