Minimum balance for zenith bank savings account
The minimum balance for zenith bank savings account is zero naira. What this means is that you can completely withdraw all of your money from your account.
The Zenith bank savings account is special in that it is meant for people that earn monthly and aren’t involved in daily transactions. The latter is for those with current bank accounts.
Another special feature of the Zenith bank savings account is that you get a 1.7% interest on whatever money you save. This interest is usually funded as returns.
The minimum balance for the Zenith bank savings account makes it perfect for you to save towards a goal you have in mind. For example, you can save towards buying a house or a car.
Regardless of whatever you choose to do, you’ll still get your money to work for you, and fetch you funds in form of returns.
Benefits of Zenith bank savings account
The benefits of the Zenith bank savings account include the following;
- Zero account opening balance
- Interest rate of 4.65%. This feature serves a base for the returns that you earn off your saved money.
- Access to a Master, Visa or Verve debit card. It is with these cards that you can make withdrawals from ATMs.
- You get access to internet banking services. Internet banking makes things a whole lot easier for you—faster transfers and other payments based on the Internet.
- The Zenith bank makes available for you a mobile banking application.
- You get to choose how you get your alerts—via emails or SMS alerts.
In order to open a saving account, you need the following documents;
- You need an account opening form. This form contains fields for details that you have to provide.
- A recent and clear passport photograph
- Signatory pieces of documents like your Driver’s license, International Passport, etc.
- Residence permit
- A Public Utility Receipt that was issued three months (or less) prior to the time of opening the account. Examples of these receipts include PHCN bills, water rate bills, tenement rate, rent, etc.
- References for cheque deposits.
Zenith bank savings account maximum balance
A maximum balance for Zenith bank savings account does not exist. The only time you can get a maximum balance restriction is when you open a student account.
The student bank savings account has a maximum balance of a hundred thousand naira (N100,000). Having more than that in your account would immediately lead to an inactivation or freezing of the account.
Unfreezing the account requires that you present details like your National Identity card, Bank Verification Number, etc.
Once all of the required details are presented, the bank can then proceed to unfreeze your account within twenty-four hours (24hrs).
Types of savings account in zenith bank
There are different kinds of saving accounts for Zenith bank owners and they include the following;
- The Eazy-Save Classic account:This kind of account requires little to no efforts at providing means of identification. As a result, anyone can open a savings account.
- The Eazy-Save Premium account: This account is also like the Eazy-Save Classic account. The only difference is that you get to have a higher cumulative account balance—#500,000.
- The Aspire account: This kind of saving account is more like the Student saving account as it allows people within the 16 and 25 age range to chase after their goals.
- Zenith Children’s account: This is the account that you need when you want to open accounts for kids that are within the zero and fifteen age range. During the registration process, you may have to stand in for your child until he or she is of age.