PRECIOUS ASSETS ACCOUNT : PAAC
Precious Assets Account (PAAC) is an account for children from birth to age 16
- Minimum opening amount of 200 Naira
- Maximum balance of 200 Naira
- To be operated by parent , Guardian, God parent and any person who has identifiable relationship with the child
- Allows the lodgement of cheques and dividend warrants strictly in the name of the child or the authorized signatory.
- Interest rate is 7% per annum as long as withdrawal is not more than 2 times in a month
- Year end gift for any account with balance in excess of 20,000 Naira