Early Starter Savers
Younger first-time home buyers face a mountain of obstacles in owning their home. Your little ones do not have to go through that stress, start now! Open an Early Starter Home Ownership account and save consistently till 25 years of age. This qualifies them for zero percent equity and 2% discount on mortgage loan.
As opposed to a Junior Savers Account, deposits made are not withdrawable as the sole aim of this product is to provide home security for children and teenagers when they come of age.
- No withdrawal until 25 years of age.
- Opening balance N10, 000.
- Zero equity
- 2% interest discount on mortgage.
- It can be used as collateral.
CMBank ACCOUNT OPENING REQUIREMENTS
- Two recent passport photograph of both Child and Parent/Guardian
- Duly completed Early Starter Savers account opening form
- Proof of Identity: Copies of Driver’s License, International passport, National I.D Card, and Voter’s Card.
- Proof of Address: Utility Bill issued in the last 3 months (PHCN, Water, etc).
- Copy of kid’s Birth Certificate/International Passport
OTHER BENEFITS APPLICABLE TO ALL ACCOUNT TYPES
- 24/7 Banking services via our various E-channels
- Monthly statement via email
- Dividend warrant lodgments are acceptable
- Bank transfer from other banks is permissible
- Know Your Customers (KYC) rules apply
- Cheque lodgment is permissible