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Sterling Savings Accounts

Classic Savings Account

Availability: A Classic Savings Account is available to all market segments viz individuals, traders, artisans, business men / women etc.
Opening Balance: Zero intitial opening balance
Daily Minimum Balance Minimum deposit of N1,000.00 is required as minimum balance for the Classic Savings Account. No service charge by keeping N1,000 or more in this account. 
Rate: Very attractive interest rate
Liquidity:  Withdrawals more than four (4) times in a month would lead to forfeiture of interest
Benefits:
  1. A low minimum balance.
  2. Issuance of Debit card
  3. Access to Electronic Banking Facilities
  4. SMS Alert on all transactions.
  5. 3.6% p.a
Cross Selling Opportunities:
  1. Sterling Plus
  2. Sterling Choice Account
  3. I CAN SAVE
  4. Campus Hype Account
  5. Corpers Savings Account
  6. Education Plan Account
  1. ATM
  2. SMS Alert
  3. Mobile Banking
  4. Internet Banking
Account opening Requirements:
  • Duly completed account opening form
  • Duly completed specimen signature card
  • Two (2) recent passport sized photographs
  • Valid means of identification i.e International Passport, Driver’s License, National ID Card
  • Valid resident permit (For Foreigners Only)
  • Two (2) duly completed and satisfactory references for  related accounts
  • Current utility bill from place of residence (e.g. electricity,water rate, telephone bills)

Sterling Recurring Deposit Account

Availability: A Sterling Recurring Deposit account is available to all market segments viz individuals, fixed income earners, traders, artisans, business men / women etc.
Opening Balance: N5,000.00
Daily Minimum Balance N/A
Rate: Very high and attractive interest rate depending on the tenor .i.e. 1-5 years
Liquidity:  Withdrawal is not encouraged before the expiration of the agreed tenor.
Any withdrawal implies forfeiture of 50% of accrued interest
Benefits:
  • An investment account specifically designed for people who are desirous of saving a percentage of their monthly income.
  • Minimum monthly deposit of N5,000, in multiples of N5,000.
  • No limit to the monthly deposit.
  • Monthly deposit can be made either through NEFT, Post Dated cheques, Standing order instructions or Cash deposit
  • 7% - 9% p.a (depending on tenor)
Cross Selling Opportunities:
  1. Sterling Plus
  2. Sterling Choice Account
  3. I CAN SAVE
  4. Campus Hype Account
  5. Corpers Savings Account
  6. Education Plan Account
  1. ATM
  2. SMS Alert
  3. Mobile Banking
  4. Internet Banking
Account opening Requirements:
  • Duly completed account opening form
  • Duly completed specimen signature card
  • Two (2) recent passport sized photographs
  • Valid means of identification i.e International Passport, Driver’s License, National ID Card
  • Valid resident permit (For Foreigners Only)
  • Two (2) duly completed and satisfactory references for related accounts
  • Current utility bill from place of residence (e.g. electricity, water rate, telephone bills)

Sterling Plus Account

Availability: A Sterling Plus account is available to all market segments viz individuals, traders, artisans, business men / women etc.
Opening Balance: An opening balance of N3,000.00 is required to open the Sterling Savings Plus Account
Daily Minimum Balance Minimum deposit of N3,000.00 is required for Sterling Plus Account.
Rate: Very attractive interest rate.
Liquidity:  A withdrawal limit of N1,000,000 per month is applied to discourage frequent withdrawals.
Service charge Service charge of 0.5% is applicable on transactions that exceed the N1,000,000 maximum monthly limit
Benefits:
  1. Zero C.O.T
  2. Zero initial opening balance for salary account
  3. Allows lodgment of cheques and dividend warrants but in the name of the account holder
  4. Personalized cheque book
  5. Third party withdrawals via non-clearing cheques
  6. Free internet banking access
  7. SMS Alert on all transactions.
  8. 3.6% p.a
  9. Service charge of 0.3% for transactions above N1m threshold in a month
Cross Selling Opportunities:
  1. Sterling Choice Account
  2. I CAN SAVE
  3. Campus Hype Account
  4. Corpers Savings Account
  5. Education Plan Account
  1. ATM
  2. SMS Alert
  3. Mobile Banking
  4. Internet Banking
Account opening Requirements:
  • Duly completed account opening form
  • Duly completed specimen signature card
  • Two (2) recent passport sized photographs
  • Valid means of identification i.e International Passport, Driver’s License, National ID Card
  • Valid resident permit (For Foreigners Only)
  • Two (2) duly completed and satisfactory references for related accounts
  • Current utility bill from place of residence (e.g. electricity, water rate, telephone bills)

I Can Save Account

Availability: I CAN SAVE account is targeted at minors .i.e. children
Opening Balance: An opening balance of N2,000.00 is required to open the Sterling Choice Account
Daily Minimum Balance N1,000.00.
Rate: Very attractive interest rate
Liquidity:  Forfeiture of interest on withdrawal more than four times
Benefits:
  • Targeted towards cultivating an early savings culture among children
  • Operated by Parent/Guardian on behalf of the minor
  • Allows lodgment of cheques and dividend warrants
  • SMS Alert on all transactions
  • Issuance of Verve card   
  • Average balance of 50,000 & above attracts additional 1% p.a interest rate
  • Incentive of N250,000 to beneficiary that have scores of all A’s in SSCE/Cambridge O’level in at least 8 subjects at one sitting. Subject to maintenance of average balance of N50,000 in 12 months
  • Free educational  counseling for club members
  • Branded I Can Save Club souvenirs for members
  • I Can Save members are invited to special parties (end of the year parties, children’s day celebration and kids banking day)
  • Credit facility for any short fall in school fees, for parents that have a current/salary account with the bank subject to conditions applicable with the bank’s consumer loan finance product
  • 3.6% p.a
Cross Selling Opportunities:
  1. Sterling Plus
  2. I CAN SAVE
  3. Campus Hype Account
  4. Corpers Savings Account
  5. Education Plan Account
  1. ATM
  2. SMS Alert
  3. Mobile Banking
  4. Internet Banking
Account opening Requirements:
  • Duly completed account opening form
  • Duly completed specimen signature card
  • Two (2) recent passport sized photographs
  • Valid means of identification i.e International Passport, Driver’s License, National ID Card
  • Valid resident permit (For Foreigners Only)
  • Two (2) duly completed and satisfactory references for related accounts
  • Current utility bill e.g. electricity, water rate, telephone bills

 

Sterling Choice Account

Availability: A Sterling Choice account is available to all market segments viz individuals, fixed income earners, traders, artisans, business men / women etc.
Opening Balance: An opening balance of N5,000.00 is required to open the Sterling Choice Account
Daily Minimum Balance Same as opening balance
Rate: 1% above prevailing savings rate
Liquidity:  Interest is forfeited in the month of withdrawal before the first six months tenor. This is to discourage withdrawals.
Benefits:
  • A target savings account that enables customers in all market segments to save towards achieving a desired goal
  • Minimum monthly contribution of N5,000 (or as determined by the customer)
  • Minimum tenor of six (6) months.
  • Account is not age restrictive (can be opened for minors)
  • 3.6% p.a
Cross Selling Opportunities:
  1. Sterling Plus
  2. I CAN SAVE
  3. Campus Hype Account
  4. Corpers Savings Account
  5. Education Plan Account
  1. ATM
  2. SMS Alert
  3. Mobile Banking
  4. Internet Banking
Account opening Requirements:
  • Duly completed account opening form
  • Duly completed specimen signature card
  • Two (2) recent passport sized photographs
  • Valid means of identification i.e International Passport, Driver’s License, National ID Card
  • Valid resident permit (For Foreigners Only)
  • Two (2) duly completed and satisfactory references for related accounts
  • Current utility bill from place of residence (e.g. electricity, water rate, telephone bills)

 

Savings Domiciliary Account 

A foreign denominated account usually in USD, GBP and Euro

Features 

  1. Attractive interest rate paid monthly
  2. Encourages savings towards a specific project/projects
  3. Account is not age restrictive ( can be opened for minors)
  4. Cash withdrawals from any of Sterling Bank branches nationwide.
  5. Free debit card

Education Plan Account

Availability: Education Plan Account is targeted at Students
Opening Balance: N10,000.00
Daily Minimum Balance N10,000.00
N1,000,000 for automatic qualification for insurance cover
Rate: 1% above prevailing savings interest rate
Additional interest rate of 2% above savings rate
Liquidity:  Withdrawal is restricted to once monthly. Interest is forfeited on
withdrawals more than once monthly
Benefits:
  1. Dividend warrants and cheques can be lodged into the account in the name of the child.
  2. Access to loan for education needs of the beneficiary only
  3. Insurance cover up to N2,000,000 for payment of child's school fees in case of permanent disability or death
  4. 3.6% p.a
Cross Selling Opportunities:
  1. Sterling Plus
  2. Sterling Choice Account
  3. Sterling Minor
  4. Campus Hype Account
  5. Corpers Savings Account
  6. I CAN SAVE
  1. ATM
  2. SMS Alert
  3. Mobile Banking
  4. Internet Banking
Account opening Requirements:
  1. Duly completed account opening form
  2. Duly completed specimen signature card
  3. Two (2) recent passport sized photographs
  4. Valid means of identification i.e International Passport, Driver’s License, National ID Card, Student ID Card
  5. Valid resident permit (For Foreigners Only)
  6. Two (2) duly completed and satisfactory references for related accounts
  7. Current utility bill from place of residence (e.g. electricity, water rate, telephone bills)

Corpers Savings Account

Availability: Corpers Savings Account is targeted at National Youth Service Corpers
Opening Balance: N1,000.00
Daily Minimum Balance N/A
Rate: Very attractive interest rate
Liquidity:  No limit to the number of withdrawals
Benefits:
  1. Debit card.
  2. Free branded gift items for all account holders
  3. 3.6% p.a
Cross Selling Opportunities:
  1. Sterling Plus
  2. Sterling Choice Account
  3. Education Plan Account
  4. I CAN SAVE
  1. ATM
  2. SMS Alert
  3. Mobile Banking
  4. Internet Banking
Account opening Requirements:
  1. Duly completed account opening form
  2. Duly completed specimen signature card
  3. Two (2) recent passport sized photographs
  4. Valid means of identification i.e International Passport, Driver’s License, National ID Card, NYSC Card
  5. Valid resident permit (For Foreigners Only)
  6. Current utility bill from place of residence (e.g. electricity, water rate, telephone bills)

Campus Hype Account

Availability: Campus Hype account is targeted at university students
Opening Balance: N2,000.00
Daily Minimum Balance N1,000.00
Rate: Very attractive interest rate
Liquidity:  No limit to the number of withdrawals
Benefits:
  1. Allows lodgment of cheques and dividend warrants but in the name of the account holder.
  2. SMS Alerts for deposits made into your account
  3. Free internet banking access
  4. 3.6% p.a
Cross Selling Opportunities:
  1. Sterling Plus
  2. Sterling Choice Account
  3. Sterling Recurring Deposit Account
  4. I CAN SAVE
  5. Corpers Savings Account
  6. Education Plan Account
  1. ATM
  2. SMS Alert
  3. Mobile Banking
  4. Internet Banking
Account opening Requirements:
  1. Duly completed account opening form
  2. Duly completed specimen signature card
  3. Two (2) recent passport sized photographs
  4. Valid means of identification i.e International Passport, Driver’s License, National ID Card, Student ID Card
  5. Valid resident permit (For Foreigners Only)
  6. Two (2) duly completed and satisfactory references for related accounts
  7. Current utility bill from place of residence (e.g. electricity, water rate, telephone bills)

Savings Accounts

We offer a wide range of savings products that help you plan and manage your finances in more ways than you can imagine.
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