Wema Bank is set to award 20 school children with a N50, 000 School Support Fund in its educational award. The annual award, which is available to holders of the bank’s Royal Kiddies Account is to hold in September, 2020.
A statement from the bank explained that to qualify, parents and guardians are to open a Royal Kiddies Account in any Wema Bank branch close to them with a minimum of N100,000 before September, According to the bank, parents and guardians who already have a Royal Kiddies Account can top up their balance to N100, 000 before the deadline to also qualify. The winning accounts would be notified of their reward after the final selection which is set to hold on September 18, 2020.
The Royal Kiddies account, a savings account opened by parents and guardians enables them to save up for their children’s education. As a Royal Kiddies account holder, a child gets to enjoy a competitive interest rate of 4.75 per cent on savings, an e-Purse for electronic transactions and many other incentives including an opportunity to win the annual Wema Educational Award.
“It is our way of supporting parents in educating their children and we are happy with the impact we have made in the past years.
“This year, education has been greatly hampered by the breakout of the COVID-19 pandemic and we hope this will go a long way to support this year’s winners as they settle into the new normal. We also hope to use this gesture to help inculcate a savings culture into children and prepare them for financial freedom early,” Divisional Head, Retail Business, Wema Bank, Dotun Ifebogun said.