This savings account is targeted mainly at unbanked and under banked people. It is a product mandatorily required by CBN, as it is an important part of the financial inclusion agenda, tasked with banking the unbanked.
Unbanked and under banked
Terms and Conditions
- The operations of the account is limited to a maximum single deposit amount of N50,000 and maximum cumulative balance of N300,000 at any point in time.
- Mobile banking is limited to a maximum transaction limit of N3,000 and daily limit of N30,000.
- Account holder will be required to provide further documents at any point in time when transacting above the regulated threshold.
- International funds transfer is prohibited.
- The account is strictly savings,
- Account holder will be issued a debit card.
- NDIC maximum insured deposit cover for exact deposition is N500,000.
- If a breach is associated with the operation of your account/wallet, account holder agrees that Unity Bank Nig. Plc has the right to apply restrictions to your account/wallet and report to appropriate law enforcement agencies in line with extant laws.