How to Open GTBank Account for a Child? (SKS account)

Read all about how to open GTbank SKS account for a child.

Guaranty Trust Bank has made it very easy for parents and kids to save toward their future at a young age by creating an avenue for the kids to have their accounts.

We all know kids have a habit of buying everything that catches a glimpse of their eyes with money in their possession. So as a parent opening an account for your kids would be a good decision because it would help them learn how to save at a young age and reduce the excessive expensing.

This article will discuss how to open a gtbank account for a child and the features of a smart kid save account.

About GTBank SKS acccount?

Read my post on the best banks to open children account in Nigeria

GTBank account for a child is knowns as The Smart Kids Save (SKS) account. This account is designed to enable parents to save for their kids under the age of 18 yrs.

There are two categories of the Guaranty Trust Bank smart kids savings account available, namely;

1. Smart Kids Save: This is available to kids from 0 – 12 yrs of age.
2. Smart Kids Save Teen: This is an additional account created when the kid is/become 13 to 17 yrs.

Steps on How to Open GTBank Account for a Child

The smart kid account can be opened by visiting any nearby gtbank branch or online. The following are steps to open the SKS account online;

• Visit www.gtbank.com Click on personal banking, then click on the account
• Click on investment and saving account
• Click on smart kid savings account
• A form would be displayed, then proceed to open a new account
• Follow the instructions, fill in your essential details correctly, and upload the picture.

The Requirement to Open Smart Kid Save (SKS) Account

• One passport photograph of the kid and signatory is required
• A recent utility bill is required
• The birth certificate of the kid is required
• A valid means of identification, such as a national driver’s license, or voter’s card, is required
• The minimum opening account balance is N1000
• Bank verification number of the parent

Features of Open Smart Kid Save Account

• It has competitive interest rates of 4.20% (that means you earn more if you save more).
• It allows the lodgment of Cheques, drafts, and dividends into the account.
• Smart kid savings accounts can be converted into regular savings or current accounts only when the kid is up to 18 yrs old.
• A debit card is available
• The minimum balance on the account is zero
• Access to discounted health and education plans.

FAQs

What age can a child open a bank account in Nigeria?

GTBank Smart Kid Save is designed for kids from the age of 0 -17 yrs. To encourage saving habits at an early age and reduce unnecessarily lavishing.

What items do I need to open a bank account for my child?

• One passport photograph of the kid and signatory is required
• A recent utility bill is required
• The birth certificate of the kid is required
• A valid means of identification, such as a national driver’s license, or voter’s card, is required
• Bank verification number of the signatory

Can a minor get BVN?

No, minors can’t enroll for BVN until 18 yrs old.

Can I withdraw money from my child’s savings account?

Yes, you can withdraw as much money in your accounts as you want.

Conclusion: How to Open GTBank Account for a Child

Parents should endeavor to open their children’s accounts to teach them the habit of saving from an early age.

Also, the parent should save a certain amount of money at the end of the month in the kid’s account because it would assist them in the future and avoid withdrawal to the minimum.

I hope you got a lot of helpful information from this article; please share and leave your comments.

 

 

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