How to Register for a Union Bank Savings Account

Filed in Articles by on February 19, 2024

Union Bank Savings Account Registration is a gateway or a mechanism that enables one to realize financial independence and security.

Union Bank Savings Account Registration

The Bank which was founded in 1917 has developed to become a strong and trusted name in the Nigerian banking industry.

Over a long period, Union Bank has transformed and adjusted itself to align with the changing economy of Nigeria.

Let us walk with you as we take a closer look at the key stages of opening a Union Bank savings account.

Online Process for Union Bank Savings Account Registration

The steps for opening a Union Bank savings account online are as follows:

1. Visit Union Bank’s Website: Click on “Open Account.”

2. Start with Your BVN: Input your BVN to begin the account opening process.

3. One-Time Password (OTP): An OTP (security code) will be sent to your phone for confirmation of your identity.

4. Update Your Details: Provide your personal information like your name, date of birth, and contact information.

5. Update Your Address: Please provide your present address.

6. Create Your Account: Choose the savings account type you need and follow the rules.

7. Continue with Account Setup: It might be many more steps or details to get to the final result.

8. Review and Update: Look at and review your account information.

9. Verify Your Photos: Please verify your identity by uploading a photo or a document.

Union Bank Account Opening Requirements

To open an account at the Union Bank, you will need some things. Here’s what you should have: 

1. Please visit the nearest branch and ask the customer service desk for online banking.

2. Please ensure that you fill out the account opening form in full.

3. Please have two passport-size pictures of you.

4. Give your BVN (Bank Verification Number).

5. Present a valid ID, like a driver’s license or a passport.

6. Prove your residence by providing a document displaying your address.

7. If the name on your ID is different from the account name, you might need to publish a notice in a newspaper. You’ll also need to show your marriage certificate or an affidavit.

Benefits of Opening a Savings Account with Union Bank

Union Bank Savings Account Registration

Opening a Savings Account with Union Bank comes with a lot of advantages.

It offers a secure, fast, and convenient banking service 24/7 through UnionOnline and UnionMobile.

A significant benefit is the competitive interest rate of 5.55% per year.

This means that you have a chance to see your savings grow gradually. The account needs a very small first deposit of ₦2,500 only which is affordable to many.

Also, the account has been designed in such a way that it needs a minimum operating balance of ₦1,000 to be active and accrue interest daily.

Union Bank’s Savings Account makes your banking transactions as easy as possible, whether you are at home or outside.

You will also be given a debit card that will enable you to buy goods and process transactions with no stress.

The account is designed to provide more convenience. This is done by depositing cheques of up to ₦2 million. This meets different financial needs and makes large transactions easy.

This option makes the Savings Account not only a reliable choice for savings but also a flexible instrument for carrying out and managing large monetary transactions.

Union Bank, with a strong background in development, actively contributes to the growth of Nigeria, positioning itself as a major player in the country’s banking industry.

The first step on the way to your Union Bank Savings Account Registration is the right step forward to your financial future.

Register today and start on the path to a safe and prosperous financial life.

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