In case you don’t know, First bank happens to be one of the largest or biggest financial powerhouses in the African continent. This bank has been existing for years and has also been recognized as the best because of the quality service they deliver. As a way to make banking more convenient, they have introduced student type of saving account, which is the First bank’s way of helping students to own an account the easy way.
In today’s post, we will show you the First bank student account limits in Nigeria.
It is true that students usually pass through stress to open a savings account in Nigeria, and don’t even know the account limit they have.
Type of first bank student account you can open
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The Mefirst Student Saving Account
Here is the kind of account meant for children moving through the teenage years. This means that the MeFirst students saving account is for teenagers between 13 to 17 years of age. The account is meant to meet the special needs of customers and also teach kids how to spend and save money, and also engaging them to have other fun activities.
Here Are The Features And Benefits Of Mefirst Account Type
- The account can be opened in the child’s name, and while it will be operated by the child’s parent or guardian.
- There is a minimum account opening and operating balance of N1,000.
- The account can be automatically transit to the XploreFirst account once the teenager reaches the age of 18 years.
- There is a pre-paid card for the child with 5 design choose-able options on which the parents or guardians can load it with the child’s weekly or monthly allowances.
Here Are The Benefits Of Mefirst Account Type
- First bank gives some gift items to the teenager whenever the account is opened.
- Once opened, the account holder will be qualified for a raffle draws to win N300,000 once the account balance is on the average of N150,000 for a minimum of 12 months.
- Cheques and dividend warrants can be lodged into the account.
If you intend to open this MeFirst account type:
Go and complete the form in any First Bank branch near you and provide them with the above listed required documents.
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The Xplorerfirst Student Savings Account
Here is another account targeted at the youths that are between the ages of 18 to 24 years, immediately they evolve from their teenage age into adulthood and also become independent.
The Features Of Xplorerfirst Student Savings Account Type
- Applicant must attain at least an opening balance of N1,000.
- Applicant must maintain a minimum operating balance of N200.
- The applicant will get an automatic migration to standard savings account whenever the account holder graduates from school.
- There is flexible means of identification
The Benefits Of Xplorerfirst Students Savings Account
- There is a discounted cost of Verve Debit Card
- There is an annual youth scholarship award of about N150,000 to 20 undergraduates within the six geo-political zones across Nigeria.
- You will have the ability to participate in the bi-annual XploreFirst Essay and Quiz Competition to which you can win the Youth of the Year award, which has cash prizes. Note that the runners-up would also win cash prizes.
- The applicant will have access to business startup capital after graduation.
- The applicant will get Cheques/Dividend warrants lodgment
- The applicant will participate in all savings loyalty campaigns
If you intend to open this XplorerFirst students account type:
Go and complete the form in any First Bank branch near you and provide them with the above listed required documents.
The First Bank Student Account Limits
A first bank student savings account has a capacity of N300,000 like other banks’ instant accounts. But be aware that if you opened a standard savings account in First bank, then there is no limit. This is because a standard savings account means an account that was open with all necessary documents. But a student instant account will be opened with no documentation.
