Diamond Bank offers youth high interest savings plan

Diamond Bank has opened a window of money management opportunity that enables parents and guardians plan and save for the future of their children through a simplified and high-interest yielding target savings plan.

The financial product, known as “Diamond Future” does not only enable parents to save but also to teach their children to develop healthy savings habit and build prudent expenditure profile and diverse investment portfolio.

According to the bank, it was created and launched into the market in 2014 but now refreshed to help parents meet set savings targets for their children and easily accomplish their future financial goals and needs with excitement.

Information about the financial product on the bank’s website reveal that it is a savings account designed for children between ages 0-17 years, and offers a well guided and structured plan with the opportunity of earning high-interest rates. The plan is known as Diamond Future Target Savings Plan.

The bank’s chief spokesperson, Chioma Afe, stated that a major reason for creating the product is to instil in children the value and dignity of starting early to chart healthy financial course in life, and also deepen financial inclusion by integrating the children into the banking community.

“We want young people to know that Diamond Bank is not just for adults, Diamond Bank is your Bank too. We have worked hard to be the bank that understands the financial needs of parents and their children and to provide the right products and support to help them save to achieve their dreams.

“It provides customers with an opportunity to get specially rewarded with a 13th-month savings bonus, with 20 per cent of monthly instalment value when they stay committed to their yearly target savings plan.