How To Open a Sterling Bank Nigeria Fixed Deposit Account – When it comes to having your money grow, nothing beats opening a Sterling Bank Nigeria Fixed Deposit Account and earning interest on your hard-earned money. The following article will walk you through the process of opening a Sterling Bank Nigeria Fixed Deposit Account and showing you how to take advantage of this simple way to earn more with your money.
What Is A Sterling Bank Nigeria Fixed Deposit?
A Sterling Bank Nigeria Fixed Deposit is an investment account where you can save your money for a set period of time and earn interest on it. It is a safe and secure way to grow your money. You can open a Sterling Bank Nigeria Fixed Deposit account with as little as N5,000. The interest rate on your account will depend on the amount of money you have in your account and the length of time you choose to keep your money in the account.
Sterling Bank Nigeria Fixed Deposit Features
The Sterling Bank Nigeria Fixed Deposit account is a great way to save money. You can open an account with as little as N5000, and there is no monthly maintenance fee. Plus, you earn interest on your deposits, which can be paid out monthly or at maturity.
To open a Sterling Bank Nigeria Fixed Deposit account, simply visit any Sterling Bank branch and fill out an application form. You will need to provide your personal information, as well as your bank details. Once you have been approved for the account, the staff member will give you all of the necessary documents.
The first time that you deposit funds into your account, they may take some time to appear on your statement. For most accounts, it could take up to three business days after the transaction date before it appears in your balance.
Sterling Bank Nigeria Fixed Deposit Interest Rates
Interest rates on fixed deposit accounts vary depending on the amount of money deposited, the length of time the money is deposited, and the type of account. For example, the interest rate for a 30-day, N10 million account is 5.5% per annum. Interest rates are subject to change at any time, so it’s important to check with your bank before opening an account. When you open a fixed deposit account, there is no need to have cash in hand; rather, you can just fund the account over time as needed. You can open up a fixed deposit account online or in person at any branch of Sterling Bank Nigeria. The first step when opening an account is deciding how much money you want to put into the account. The minimum initial deposit for this type of account is N5,000.
The Requirements For Opening A Sterling Bank Fixed Deposit Account
A savings account with any bank in Nigeria. Your BVN (Bank Verification Number). Two passport photographs. A means of identification (National ID card, International passport or Drivers license). The required minimum amount for the desired tenure. For instance, if you want to open an FD with 1 year as your tenure, then you need to have at least N20,000. If you would like it for 5 years then you need to have at least N50000 and so on. Once you have all these requirements, all that is left is to head over to the nearest branch of Sterling Bank and hand them over along with filling out their application form. You will be asked a few questions during this process which are pretty much just formalities but they will be verified before opening your account.
Documents Required For Opening A Fixed Deposit Account
Before visiting any of our branches, please ensure you have the following documents:
1. Valid means of identification (National ID card, International passport, Drivers license or Voters card)
2. Two recent passport photographs
3. Address verification document (Utility bill not older than three months or bank statement not older than three months)
4. duly completed account opening form
5. A cheque for the initial deposit payable to Sterling Bank Limited
How to open a fixed deposit account
A fixed deposit account with Sterling Bank Nigeria requires a minimum opening balance of N5,000. You can open an account by visiting any Sterling Bank branch, completing the application form and providing the required documentation. Once your account is opened, you will earn interest on your deposited funds. At the end of the fixed term, you can choose to withdraw your money or renew your deposit for another term. If you decide to withdraw your money, please remember that we do not pay interest on balances below N1 million. For more information about our products and services, please contact our Customer Care.
For More information please click to visit Sterling Bank Nigeria Fixed Deposit Account webpage