UBA target account – If you are looking to commence saving money towards a project, this guide will help you to achieve that in the most seamless way ever.
What is UBA target account?
The UBA target account is a savings account specifically tailored for individual customers who aspire to save money towards starting or executing a project or set goals like children’s education, wedding, or further studies.
This account offers customers the convenience of savings as well as maximizing their investments while having flexible access to their accounts at all times.
Who can open the UBA target account?
This account is designed for salary earners, professionals, teachers, students as well as other individuals.
1. It has a minimum opening balance of N50,000
2. Minimum operation balance of N50,000
3. You can deposit checks and dividend
4. Debit card is available
5. You can withdraw across the counter for free, however, interest would be forfeited after 4 withdrawals in a month
6. Online, Mobile, and USSD banking are available
You will need your BVN; date of birth, valid phone number, valid email address, clear copy of your passport photograph, utility bill not later than 90 days as well as a valid ID card in any International passport/voter’s card/driver’s license or National ID card
You should be able to complete the online application form to be considered for an account.
How to open a UBA target account
- Kindly follow the UBA account opening page
- Select your country (Nigeria) in this case and click on “Get started.”
- Click on “open with BVN” from the list of options; enter your BVN, valid phone number, date of birth, valid email address, and account type (Savings/current) in this case
- Check and accept the conditions
- Click on next – upload the necessary documents and your account should be ready in seconds.
Target account interest rate
The interest rate on a target account depends on the amount being saved, kindly find the available rates per threshold;
N50,000 – N99,999 – 4.20% per annum
N100,000 – N4,999,999 – 4.50% per annum
N5,000,000 – N99,999,999.99 – 6.00 per annum
N100,000,000 – N249,999,999.99 – 5.50% per annum
N250,000,000 and above – 5.50%
UBA Bumper account
The UBA bumper account is a reward system account where customers stand chance to win a lot of prizes in a raffle draw.
However, they are required to save at least N5,000 monthly to qualify for the monthly draw.
Read my content “what is UBA bumper account” to understand it better
The UBA target account is designed for customers who are looking to start a project like; education, wedding, children’s school fees, etc., this will less the financial burden on you at the appropriate time.
Save early enough and enjoy the flexibility and rest of mind that comes with a duly planned financial life.