Best banks to open a children/kiddies account in Nigeria 2023

Best banks to open a children/kiddies account in Nigeria 2023

Read all about the best banks to open a children account in Nigeria 2023.

There are many advantages that come with opening a bank account for your child, but the primary advantage is to imbibe a saving culture in your child at an early age, thereby setting your child on a path to future success.

Opening a bank account for your child is like giving them a head start in life, and make saving money more fun for them.

These days almost all Nigerian banks have the option of children bank account, and you can easily get started by walking into any bank branch and fill an account opening form.

In this post, I am going to be writing about all you will need to know about the best banks to open a children/kiddies account in Nigeria.

Remember to leave us a comment after you finish reading and also share with your friends on social media.

Let’s get into it then…


Access bank early savers account

Read my post on the banks with the highest customers in Nigeria

Early Savers Account is a savings account for children below the age of 16 years including unborn children.

The account can be opened in trust for a child by the parent/guardian who will be the primary account holder with the responsibility of running this account until their child attains adulthood and can solely operate their own accounts or possibly move to other age appropriate product.


  • Opening balance of N1,000
  • Zero minimum operating balance
  • Allow deposits of dividend warrants up to N10,000
  • Allows direct debit instruction
  • Opening balance of N1,000
  • Zero minimum operating balance
  • Allow deposits of dividend warrants up to N10,000
  • Allows direct debit instruction

GTbank SKS account (Smart kids save)

The Smart Kids Save account is designed to enable parents/guardians save for their children under 18 years of age, whilst also developing a savings culture in them

The Guaranty Trust Bank Smart Kids Save (SKS) account is available in two categories:

  • SKS (0 – 12 years)
  • SKS Teen (13 to under 18 years) *

* The SKS Teen account is an additional account opened when the Smart Kid is/becomes 13 years and older.

Features and benefits

  • Minimum opening/account balance of N1,000.00 (One Thousand Naira Only).
  • ​Competitive interest rates at 1.15% (the more you save, the more you earn)
  • Allows lodgments of cheques, drafts and dividends into the account, subject to a maximum of N1,000,000 per instrument
  • Periodic lodgements can be made into the account through Standing Order/automated direct debits.
  • Complimentary invite to SKS Fun events
  • SKS can be converted into a regular savings or current account, with the young saver as an authorized signatory. This is however only after the Smart kid saver has attained the age of 18​
  • ​From the age of 13, an SKS Teen account will be opened for the teenager which comes with a Trendy Teen MasterCard (issued upon Parent’s request) so the child can learn to manage money responsibly.

First bank KidsFirst account

KidsFirst savings account designed for children between the ages of 0-12 to show them how exciting saving can be. With this account, your child also gets to enjoy fun activities such as cool treasure hunts, cinema events and much more all year round, courtesy of FirstBank.


  • This account is opened in the child’s name and operated by the parent/guardian
  • Zero account opening balance
  • Automatic Transition to MeFirst account when the child attains the age of 13
  • Ease and convenience of online banking
  • Cheques/Dividend warrant of up to N2 million can be lodged into the account
  • Trendy gift item for the child when the account is opened with a minimum of N10,000
  • Standing order on the payment of tuition/other fees.

Zenith bank children’s account (ZECA)

The Zenith Bank Children’s Account is a unique savings account designed to allow parents save (in Naira or US Dollars) for their children’s future and teach them about savings from a tender age. The account is modeled in for young children with an overarching objective of making savings fun for them and teaching them financial discipline.


  • An account specifically for children between the ages of 0-12yrs
  • Zero account opening balance
  • Interest rate at 1.15%
  • Standing order credit option
  • Cheque, draft and dividend lodgement
  • Invitation to the annual Zenith Children’s Parade*

Sterling bank I Can save account

This account is designed for kids, to teach them how to save at a very young age. Don’t let your child grow to be a spendthrift, teach them the art of saving with their very own account.


  • Minimum account opening balance of ₦2,000
  • Daily minimum balance of ₦1,000
  • Allows lodgement of cheques and dividend warrants.
  • Issuance of Debit card & SMS alert.
  • Incentive of ₦250,000 to beneficiary that have scores of all A’s in SSCE/Cambridge O ’level in at least 8 subjects at one sitting
  • Allows lodgement of cheques and dividends up to ₦2 Million limit per day
  •  Instant Debit Card at your doorstep
  • Attractive interest rates.
  • School fees credit facility
  • Average balance of ₦50,000 and above attract additional interest of 1% p.a.
  • Account is operated by parent/guardian on behalf of minor.

Polaris bank rainbow savings account

Polaris Rainbow Savings Account is a specialized savings account for Kids (0 – 12 years old), with parents/guardians as the trustees of the account until the child is 18 years old. The account is designed to create banking awareness amongst children in a fun manner from an early age.


  • Account is opened in the child’s name and operated by the parent/guardian
  • Minimum opening and operating balance of N1,000.00
  • Competitive interest on savings
  • Automatic migration to Polaris Young Achievers Account at age 13, with SMS/Email notifications to parents/guardians.
  • Debit card issuance
  • Lodgement of cheques/dividend warrants (in Child’s Name) of up to N2million
  • Access to consistent saving with standing instruction from benefactor account
  • Access to e-channel platforms

Wema bank Royal kiddies account

Royal kiddies account is a special account that enables children get an early start to financial freedom at WEMA Bank and it is designed for children between ages 0 to 12 years.

If you’re a parent, financial literacy is one of the most important skills you can teach your kids at an early age. Opening a children account for your youngster can give them a head start on aspects of personal finance and make concepts such as savings, budget and financial goals become more real, practical and exciting to them.


  • Account is operated by the parent/guardian who may or may not have an account with Wema Bank
  • Minimum opening balance of N2,000
  • Competitive interest rate of 2.15%
  • Limited withdrawals – Maximum of 1 withdrawal/month to qualify for interest payment
  • Lodgment of dividend warrants & cheques in child’s name is allowed
  • No debit card would be issued on this account
  • A Royal Kiddies e-purse will be made available on request.

UBA Kids savings account

Children between the ages of 0 – 12 years. Parents or guardians will manage the account on behalf of the child. This account is available in two variants – Full and Lite.


  • Earn 13th Month Reward: 10% of the monthly savings plan done over 12 consecutive months having maintained a Standing Instruction of minimum of N5,000.
  • A chance to partake in the scholarship scheme through a raffle draw having maintained a Standing Instruction of minimum of N10,000 for 6 consecutive months.
  • Annual interest of 1.15% (payable monthly)

Unioninfinity account

Read my post on the best domiciliary accounts in Nigeria

The UnionInfinity account for kiddies ages 0-12 is designed to get them started on their savings journey now and teach them all the right habits they need to sustain it.


  • Competitive Interest Rates: Enjoy an interest rate of up to 1.15% when you save in Naira and 1% when you save in dollars.
  • Milestone Rewards: At the end of every 12-month period, kids who have saved a minimum of N20,000 or $200 monthly will win exciting prizes
  • Loyalty Schemes: Get points as you save. Points will be valid towards fantastic items like games, books, toys and lots more!
    Birthday Celebrations: Receive complimentary gifts on landmark birthdays (Ages 5 and 10)
  • Lifestyle and Education Events: Enjoy exclusive access to our educational events for kiddies (Edu360), discounts, parties and other lifestyle benefits.
  • Education Cover: Access free insurance cover of up to N100,000 for your kids’ education
  • Healthcare: Get discounted health insurance plans for your kids
  • Beat Inflation: Save in the currency of your choice, Dollars or Naira.


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