Polaris Bank has urged parents to imbibe in their kids the art of saving by opening Polaris Rainbow Account.

It gave the advice during the Children’s’ Day celebration.

The account is for kids who are between zero and 12. It is part of a range of products designed by the bank to ensure that, from infancy to adolescent, and to adulthood, there is a financial solution for everyone”.

The account, managed by parents or guardians, provides an opportunity for children to gain financial literacy from an early age. It also offers competitive interest rates on savings, as well as access to e-channel platforms. It provides automatic migration to the Polaris Young Achievers account (a specialized savings account designed for teenagers), once a child clocks 13.

The bank’s Group Head, Brand Management & Corporate Communication, Nduneche Ezurike said: “We are extremely passionate about children and believe in the importance of savings in creating a successful future and helping them achieve their hopes and dreams. Our Polaris Rainbow Account has been created to support parents in establishing a solid foundation for their children.”

Customers and prospects can sign up to the product at any Polaris bank branch, nationwide. It is also available for activation through SurePadi agents in their neighborhoods or online, through the bank’s account opening portal, he added.