Polaris Rainbow Savings Account

Polaris Rainbow Savings Account is a specialized savings account for Kids (0 – 12 years old) with parents/guardians as the trustees of the account until the child is 18year old. The account is designed to create banking awareness amongst children in a fun manner from an early age

Features & Benefits
  • Minimum opening and operating balance of N1,000
  • Availability of debit card on Rainbow Account
  • Automatic migration to Polaris Young Achievers Account at age 13
  • Default savings interest rate
  • Interest forfeiture if withdrawal is more than four times in a month
  • Lodgment of Cheque and Dividend Warrant in Child’s Name
  • Cheques & Dividend Warrants up to N2million can be lodged into the account
  • SMS and email notifications are sent to parents/guardians before and at the point of migration
  • Access to Polaris Xperience, Polaris Mobile and USSD Banking (*833#)
  • Account can be opened online
Account Opening Documentation
  • Account opening form
  • Signature mandate card
  • One recent Passport photograph of parent and One Recent Passport photograph of child
  • Valid means of identification (Int'l passport, Driver’s license, National ID, Voter’s card)
  • Proof of age document of the child (Int’l Passport, Birth Certificate, Notification of Birth)
  • Utility bill (PHCN, Water bill, Waste disposal bill, tenement, etc.)
  • Resident permit (for expatriates)
  • Bank Verification Number (BVN) of Applicant
  • Premises Verification Report

Download PolarisXperience or PolarisMobile from the App Stores.


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