How To Save Money in Nigeria Using GTB Target Account.Many of us find it very hard to save money especially now that the cost of living is getting higher and higher in Nigeria. Others find it very hard to resist good things they come across, thereby making their pockets to run dry.
But with Guaranty Trust Bank Target account, you can now save more money and save yourself from any kind of stress you may find yourself in the future.
GTB Target account is a special account meant to be funded either daily, weekly or monthly by the account owner. The account is funded either by direct deposit from another of your account or by lodging cash at defined intervals. For instance, if you choose to fund it monthly, any amount that you have stipulated will be automatically transferred to your target account on a monthly basis.
GT-Target account is a high interest bearing account that encourages financial discipline through savings. GT-Target account is designed to enable you save towards a specific target - whether it’s a wedding, holiday, new car or higher education. Whatever your financial goal is, the GT Target account can help you achieve it.
Benefit of GTB Target Account
=>> Zero account opening balance
=>> Mandatory standing order of N5, 000 (minimum) - standing order frequency can be monthly, quarterly, semi-annually
=>> On the target account there are NO penalties for not depositing funds into your target account as at when due.
=>> you can also set the time you want to withdraw the funds in the account.
Interest rate is pegged at 3.00% per annum
=>> Minimum savings period of six months (partial/full withdrawal prior to six months attracts interest forfeiture)
=>> 1% bonus interest is awarded when customers commit to the agreed standing order deposit for 1 year
=>> Interest accrues on the account daily but the interest is only capitalized after every six months
=>> Maximum of 3 sub accounts can be opened for different financial goals and targets
=>> Can be opened on GTB internet banking platform or by walking into any GTBank branch
=>> GT Target is non-transactional account
In general GTB target account is a Very good tool for those who earns salary. Your GT target account will be funded regularly from your monthly salary as soon as those salaries are paid. So the situation where you ‘mistakenly’ spend your salary before saving it does not arise.
How To Open GTB Target Account
GTB Target account can be opened either via Internet Banking or by visiting any of the GTB bank
To Open GTB Target Account Via Internet Banking follow these steps
=>> Login to your GTB Internet banking account
=>> On the left pane there is a list of services. From that list, select ‘Requests’
=>> On the menu under requests, scroll to GT-Target account and select it
=>> The system will prompt you for a code from your token (definition below). Press the white button on your token and input the PIN shown in the box for authentication. The system will then generate a new account number for the account you have created
=>> Select a suitable standing order amount and select the most preferred savings option (i.e. monthly, quarterly or semi-annually)
Note: To own and operate a GT Target Account you must have an existing GTBank Account.
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