Introduction
A prospective customer may only open Savings Account after an interview with the officer in charge of Savings Account section. During this interview, the customer will be advised of the regulations binding the operations of savings account.

Prospective Customer Status
Any person may apply to open a savings account provided:
i         The person is not of unsound mind
ii        The person is not an un-discharged bankrupt
iii       The person is not legally banned from having an account
iv       That in the case of a company, the company in not in the process of           winding up

A minor may open an account in his\her own name but the account is operated by an adult until the minor is of age. An illiterate is allowed to maintain a savings account using thumb impression as a mandate in place of signature.

Requirements and Conditions
*Deposit and withdrawals: Deposits are not restricted, but withdrawals are   limited to three or less per month, where withdrawals exceed three in a   month, the interest for the month will be forfeited and excessive   withdrawals if consistent, the customer is advised to open a Current   Account.

* A minimum opening deposit of N 1,250 is required. The balance on the   account should not fall below N 1,000 at all times.