What is a tier 2 account? Banks that offer a tier 2 account and what it entails

A Tier 2 relationship is simply a benignant of slope relationship that offers moderate entree to fiscal services with less documentation requirements than a Tier 3 account, but much than a Tier 1 account. Banks similar Access Bank, GTBank, Zenith Bank, and UBA connection Tier 2 savings accounts with reliable features for mundane use.

UBA and GTBank are among the banks successful Nigeria that connection Tier 2 Savings Accounts. Photo: @ubagroup, @gtbank connected Facebook (modified by author)
Source: UGC

TABLE OF CONTENTS

Key takeaways

• A Tier 2 slope relationship is simply a savings relationship with much enhanced features than a Tier 1 account.
• It offers higher transaction limits than a Tier 1 account.
• Tier 2 relationship Nigeria requirements typically impact a BVN, and sometimes a NIN, linked to the account.
• Banks that connection a tier 2 relationship see Access Bank, Wema Bank, Stanbic IBTC, and Ecobank.

Tier 2 relationship slope options and features

When choosing a Tier 2 savings relationship successful Nigeria, it is important to see the slope options and the unsocial features each 1 offers. Here are immoderate fashionable banks successful Nigeria that connection Tier 2 accounts:

UBA (United Bank for Africa)

UBA offers a convenient Tier 2 savings relationship designed for casual entree and debased introduction barriers. Photo: Lympia De Maismont
Source: Getty Images

UBA is 1 of Nigeria's fashionable banks that offers its customers Tier 2 savings accounts. The features and benefits associated with the Tier 2 savings relationship offered by United Bank for Africa (UBA) successful Nigeria include:

• Zero relationship opening balance.
• Zero minimum operating balance.
• Issuance of a debit card.
• Access to USSD banking via *919#, Internet Banking, and Mobile App.
• Enjoy exclusive offers connected UBA debit cards.
• Earn involvement connected savings (if withdrawal conditions are met).
• Maximum azygous deposit of ₦50,000.
• Maximum cumulative equilibrium of ₦300,000.

Requirements

• One caller passport photograph.
• Personal details (Biodata): Full name, telephone number, and day of birth.
• BVN (Bank Verification Number).

GTBank

GTBank's GTCrea8 eSavers relationship has antithetic levels, with Level 2 being akin to a Tier 2 account. Photo: @gtbank
Source: UGC

GTBank offers a Tier 2 savings relationship done its GTCrea8 e-Saver's account, designed particularly for young adults and students, but disposable to others who conscionable the documentation requirements. Below are the features and benefits you can bask erstwhile you unfastened a Tier 2 savings account with GTBank:

GTCrea8 eSavers relationship benefits

• Offers 24/7 banking services done assorted e-channels.
• A 5.25% involvement complaint per annum is paid connected your relationship balance.
• A regulatory recognition paper indispensable beryllium presented erstwhile the relationship equilibrium exceeds N500,000.
• Lodgement of cheques and dividend warrants is taxable to a maximum of N100,000 per instrumentality for a Tier 2 account.
• Complimentary invites to GTCrea8 events and masterclasses.
• Zero opening and minimum equilibrium required.

Requirements

• Completed the relationship opening form.
• BVN and NIN.
• Student ID (school, departmental, association, room card, oregon biodata page).
• Utility bill.
• Maximum azygous deposit of N100,000.
• The cumulative relationship equilibrium bounds of N500,000.
• Cheques and dividend warrants allowed up to N100,000 per item.
• GTCrea8 paper (Local) with a N500,000 spending bounds and N100,000 ATM withdrawal limit.

GTSave benefits

• 24/7 banking work via our assorted e-channels.
• Access to Internet banking, GTConnect and GTBank Electronic Notification Service (GeNS).
• Personalised Naira MasterCard for Online, POS and ATM transactions anyplace successful the world.
• Competitive involvement rates astatine 8.25% (the much you save, the much you earn).

Requirements

• A signed transcript of the GTSave relationship opening form.
• BVN and/or NIN for individuality verification.
• One passport photograph.
• Utility measure issued wrong the past 3 months.

Access Bank

Access Bank offers a Tier 2 savings relationship known arsenic the Instant Savings Account. Photo: @AccessBankPlc
Source: UGC

Access Bank is 1 of Nigeria’s starring fiscal institutions, and its Tier 2 savings account, besides known arsenic Instant Savings (Instant Savings 2), is designed to span the spread betwixt basal and full-service accounts. The features and benefits of this relationship include:

Features

• NGN1,000 minimum relationship opening balance.
• Account details tin beryllium uploaded via our interaction centre, subdivision oregon website.
• Issuance of Verve cards (only).
• Interest complaint of 8.175% p.a. (per annum).
• Maximum azygous deposit of N100,000.
• Maximum cumulative equilibrium of N500,000.
• Transactions are constricted to Nigeria.

Benefits

• Convenient and flexible relationship opening requirements.
• The relationship tin beryllium opened done the interaction centre, website, oregon astatine immoderate branch.
• It helps beforehand fiscal inclusion for the relationship holder.
• No monthly attraction charges connected the account.
• Provides relationship accusation updates via SMS and email alerts.
• Access to currency anytime, anyplace utilizing debit cards astatine ATMs.
• Verve debit cards tin beryllium utilized connected POS terminals.

Requirements

• Duly completed relationship opening form, including the signature mandate section.
• 1 passport photograph.
• Valid means of recognition (such arsenic NIN, voter’s card, driving licence).
• KYC Documentation of the customer.
• Valid impervious of residence.
• Visitation report.
• BVN of the signatory.
• AML hazard assessment.

Wema Bank

Wema Bank offers Tier 2 savings relationship for mundane users seeking simplicity and integer access. Photo: @wemabankplc (modified by author)
Source: UGC

Wema Bank’s Tier 2 relationship is designed for individuals who whitethorn not person accepted recognition but inactive privation entree to modern banking. Here are the cardinal features and benefits associated with the Wema Bank Tier 2 savings account.

Features

• Zero minimum opening balance.
• No minimum operating balance.
• Interest complaint (Same arsenic existing savings relationship rate).
• Maximum savings bounds of N500,000.
• Maximum azygous deposit bounds of N100,000.
• E-dividend lodgement is allowed.

Benefits to customers

• Enables customers to unfastened an instant slope relationship with minimal documentation and gain interest.
• Provides entree to integer banking services done ALAT.
• Offers a personalised debit paper (MasterCard oregon Visa).
• Sends transaction alerts via SMS and/or email.

Requirements

• One passport photograph.
• Completed the relationship opening signifier with a signature.
• BVN (Bank Verification Number).
• Any of these IDs: Employer’s ID, NYSC ID, Military/Paramilitary ID, Association oregon Union ID and a missive of recognition from a section authorities official.
• A missive oregon notation paper from a idiosyncratic of responsibility.
• Utility measure oregon rent receipt (issued wrong the past 3 months).

Zenith Bank

Zenith Bank offers Tier 2-level entree done its EazySave Classic and EazySave Premium accounts. Photo: @zenithbank connected Facebook (modified by author)
Source: UGC

Zenith Bank is different Nigerian bank that offers Tier 2 savings accounts. Products disposable see EaZySave Premium Account and Aspire Account which align with the Central Bank of Nigeria's (CBN) Tier 2 classification.

EazySave Classic account

The EazySave Classic account is simply a elemental slope relationship for people with small oregon nary ID, making it casual to commencement redeeming and bask basal banking services.

Features and benefits

• Zero relationship opening balance.
• A maximum azygous deposit of N50,000 is required.
• Maximum cumulative relationship equilibrium of N300,000.
• Earn involvement astatine 8.175% Verve debit card.
• Email and/or SMS alertz.

Requirements

• Account opening signifier duly completed.
• One caller wide passport photograph of the signatory.
• BVN oregon NIN.

EazySave Premium Account

The EazySave Premium Account is simply a elemental relationship that helps much radical entree banking, adjacent with a constricted ID, portion offering utile banking benefits.

Features and benefits

• Zero relationship opening balance.
• Maximum azygous deposit of N100,000.
• Maximum cumulative relationship balance, N500,000.
• Earn involvement astatine 8.175%.
• Verve debit card.
• Email and/or SMS alertz.

Stanbic IBTC

Stanbic IBTC Tier 2 savings relationship is perfect for individuals looking for a elemental and speedy mode to commencement banking. Photo: @StanbicIBTC connected Facebook (modified by author)
Source: UGC

Stanbic IBTC Tier 2 savings relationship is perfect for students, tiny concern owners, oregon individuals looking for a elemental and speedy mode to commencement banking. Below are the features, benefits and requirements of the Stanbic IBTC Tier 2 Savings Account, based connected the authoritative account opening form:

Features (Tier 2 Account)

• Maximum azygous deposit of ₦100,000.
• Maximum cumulative equilibrium of ₦500,000.
• Access to integer banking: Mobile app, net banking, and USSD (*909#).
• ATM and POS entree with a debit paper (usually Verve oregon MasterCard).
• Transaction alerts via SMS and/or email.
• No monthly attraction fees.

Requirements

• Completed and signed Tier 2 relationship opening form.
• Valid means of recognition (such arsenic a passport, driving licence, nationalist ID, BVN/NIN, oregon voters’ card).
• Any impervious of address, specified arsenic a inferior bill, certified transcript acceptable.
• One passport photograph.
• Phone fig and email for integer and transaction alerts.

First Bank

First Bank offers a Tier 2 savings account, known arsenic the FirstInstant Plus. Photo: @firstbankofnigeria connected Facebook (modified by author)
Source: UGC

First Bank offers a Tier 2 savings account, known arsenic the FirstInstant Plus. Here is simply a afloat overview of its features and requirements:

Features and benefits

• Zero relationship opening interest and minimum opening equilibrium of ₦0.
• Maximum azygous deposit of ₦100,000.
• Maximum cumulative relationship equilibrium of ₦500,000.
• Minimum operating balance of ₦100.
• Access to integer banking done online banking, USSD (*894#), and the FirstMobile app.
• You get a debit paper instantly arsenic soon arsenic you unfastened the account.
• Transaction alerts via SMS and/or email.
• Cheque and dividend warrant lodgement allowed.
• The relationship tin besides beryllium operated arsenic a Salary Account.
• There are nary limits to the fig of withdrawals you tin marque from the relationship successful a month.
• Easy upgrade way to Tier 3 accounts erstwhile afloat KYC and higher limits are needed.

You tin upgrade the relationship astatine immoderate clip if you privation to person much than N500,000 equilibrium successful your account. Photo: @firstbankofnigeria connected Facebook (modified by author)
Source: UGC

Requirements

• Completed Tier 2 relationship opening form.
• Valid means of identification.
• NIN oregon BVN.
• Voter's card, driver’s license, passport, pupil ID, taxation ID, etc.
• Utility measure oregon impervious of code (may beryllium self-certified).
• Two passport-sized photographs.

What are the Tier 2 banks successful Nigeria?

Tier 2 banks successful Nigeria are mid-sized banks similar Fidelity Bank, Wema Bank, Polaris Bank, Unity Bank, and Heritage Bank, which run nether little superior bases compared to Tier 1 banks.

How overmuch tin a Tier 2 Kuda relationship hold?

A Tier 2 Kuda relationship tin clasp up to ₦500,000 successful full balance, with a maximum azygous deposit of ₦200,000.

What is the maximum azygous deposit magnitude for a Tier 2 account?

The maximum azygous deposit for a Tier 2 relationship nether existent Central Bank of Nigeria guidelines is ₦200,000, though galore banks acceptable a bounds of ₦100,000 per deposit connected their Tier 2 savings accounts.

Tier 2 savings accounts successful Nigeria connection much flexibility than Tier 1 accounts, allowing higher transaction limits and mean KYC requirements. Banks similar Zenith Bank, Wema Bank, Access Bank, and UBA connection Tier 2 accounts with features specified arsenic involvement earnings, debit paper access, and mobile banking.

DISCLAIMER: This nonfiction is not sponsored by immoderate 3rd party. It is intended for wide informational purposes lone and does not code idiosyncratic circumstances. It is not a substitute for nonrecreational proposal oregon assistance and should not beryllium relied connected to marque decisions of immoderate kind. Any enactment you instrumentality upon the accusation presented successful this nonfiction is strictly astatine your ain hazard and responsibility!

Legit.ng precocious published an nonfiction astir the requirements for opening a slope account successful Nigeria. Opening a slope relationship successful Nigeria tin beryllium a straightforward process arsenic agelong arsenic you person the indispensable documents and information.

Some of the cardinal requirements needed are your Bank Verification Number (BVN), a valid identification, and impervious of address. Explore the basal requirements for opening a slope relationship successful Nigeria and the step-by-step process.

Source: Legit.ng