Details

A target savings account designed to help parents accumulate wealth towards fulfilling their children's dreams, while at the same time entertaining the children and teaching them to save right from an early age in a fun way. My Dream Account (MDA) is designed for children aged 0 - 18 years. Debit cards may be issued under minor accounts on request.

My Dream Account is converted to a Normal Savings Account when the minor turns 18 years.

Features

  • Minimum account opening amount N5,000
  • Accepts Cheques lodgement and Dividends up to N2m.
  • No monthly Maintenance Fee.
  • Minimum monthly contribution by standing order is N1,000
  • Minimum account maintenance monthly balance is N5,000 to enjoy the benefits
  • Maximum of 4 withdrawals per month to enjoy the interest benefit on the account for the month
  • Free e-Statements, Online Banking and e-Alerts on your account.
  • Can be used as collateral for Overdrafts for the parents

Benefits

  • Complimentary invites to international university fairs and private school open day, children day events, etc
  • Competitive interest rates calculated daily and payable monthly.
  • Birthday Recognition
  • Access to tips on education, lifestyle, Parenting, schools’ newsletters etc
  • Private movie screening for MDA holders, sponsored events*
  • Discount on insurance products* Subject to commencement of Banassurance

Eligibility

 

    Documents Required
  • Account Opening Form
  • Opening balance – NGN 5,000
  • Birth Certificate (child)
  • International Passport for child (if available)
  • Parents or Legal guardians ID (International Passport; Drivers Licence or National ID)
  • Parents work ID (front and back copy)
  • 1 Passport photo (for both child & parent)
  • Proof of residence; either utility bill / tenancy agreement.
  • NGN 50 stamp

Qualifying Criteria

  • Children ages below 18 years are the principal account holders while the parents/ legal guardian will be the custodians.

Apply Online

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01 2704611 - 4
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+234 1 2704611 - 4
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Speaking Up

Standard Chartered Bank (the “Bank”) is committed to maintaining a culture of the highest ethics and integrity, and in compliance with all applicable law, regulation and internal policy. As part of this commitment, the Bank has a ‘Speaking Up’ programme through which genuine concerns in this regard can be raised. Members of the public can securely raise Speaking Up concerns through this hyperlink, which is hosted on behalf of the Bank by a third party ‘InTouch’. Examples of concerns that can be raised through this website are concerns that relate to accounting, internal accounting controls or auditing matters and concerns relating to bribery or banking and financial crime. Concerns received will be forwarded to the Bank’s investigations team for review. Complaints relating to SCB banking services should not be raised through this site in the first instance, but through the SCB branch network, contact centres, Relationship Managers or the ‘Contact Us’ webpage.

Disclaimer

Please note that this hyperlink will bring to you to another website on the Internet, which is operated by InTouch, an independent company appointed by the Bank to support its Speaking Up programme. Please be mindful that when you click on the link and open a new window in your browser, you will be subject to the additional terms of use of the website that you are going to visit.

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