Union Bank of Nigeria Account Opening

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Union Bank of Nigeria Account Opening

UnionSave

Open a savings account without any documentation.

  • N1, 000 minimum account opening balance
  • N1, 000 daily minimum operating balance
  • Maximum single deposit of N50, 000
  • Maximum daily cumulative balance of N300, 000
  • Secure, quick and convenient 24/7 banking with UnionOnline and UnionMobile
  • Access to online banking and debit cards
  • Earn 4.2% interest

Account Opening Requirements

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  • Duly Completed Account Opening Form
  • One recent passport photograph
  • Bank Verification Number.

UnionSave More

Open a savings account without any documentation.

  • N1, 000 minimum account opening balance
  • N1, 000 daily minimum operating balance
  • Maximum single deposit of N100, 000
  • Maximum daily cumulative balance of N500, 000
  • Secure, quick and convenient 24/7 banking with UnionOnline and UnionMobile
  • Access to online banking and debit cards
  • Earn 4.2% interest

Account Opening Requirements

  • Duly Completed Account Opening Form
  • One recent passport photograph
  • Bank Verification Number
  • Any means of identification
  • Proof of Address
  • Newspaper Publication plus Marriage Certificate or Sworn Affidavit (If account name differs from the name on ID)

Savings Account

Save regularly at competitive interest rates with flexible withdrawals.

  • Earn 4.2% interest. 
  • Account opening balance of N2, 500.
  • Daily minimum operating balance of N1, 000.
  • Access to mobile and internet banking.
  • Access to debit card.
  • Cheque deposits of up N2million.

Account Opening Requirements

  • Duly Completed Account Opening Form. 
  • Two passport photographs. 
  • Bank Verification Number.
  • Valid means of identification. 
  • Proof of Address. 
  • Newspaper Publication plus Marriage Certificate or Sworn Affidavit (If account name differs from the name on ID).

Smart Saver

Account designed for long term savings.

  • Account Opening balance of N50, 000
  • No Debit allowed on account
  • Minimum tenor of 2 years
  • Maximum tenor of 15 years
  • Education insurance cover of up to N1.5million
  • Tiered interest rate and deposit band

Account Opening Requirements 

  • Duly Completed Account Opening Form 
  • Two passport photographs
  • Bank Verification Number
  • Valid means of identification
  • Proof of Address
  • Marriage Certificate or Sworn Affidavit (If account name differs from the name on ID)
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UnionSilver

A unique savings account that offers concessions and other benefits.

  • Account opening balance of N20, 000
  • Daily minimum operating balance of N20, 000
  • Access to online and mobile banking
  • Access to premium debit card
  • Tiered interest rate based on available minimum daily balance

Requirements

  • Completed Account Opening Form
  • Valid Means of Identification
  • Bank Verification Number
  • Newspaper Publication plus Marriage Certificate or Sworn Affidavit (If Account name differs from name on ID)
  • Proof of Address
  • Two passport photographs
  • References (optional – For cheque deposits above N2million)

Payroll Saving

Customised salary account for employees in the formal and informal sectors with special offers and benefits.

  • Access to online and mobile banking.
  • Personalised 3rd party withdrawal booklet

Requirements

  • Introductory letter from the company
  • Company Identification Card
  • Completed account opening form
  • Proof of address
  • Bank Verification Number

UnionKids

Savings account designed for children between the ages of 0 to 17 years. You can save in Naira or foreign currency

  • Earn 4.2% interest on Naira account
  • Earn 0.2% interest on foreign currency account
  • Account opening balance of N2, 500 and $50 (or its equivalent) for foreign currency account.
  • Daily minimum operating balance of N1, 000
  • Access to internet banking
  • Cheque deposits of up N2million.

Requirements

  • Birth certificate of child.
  • One recent passport photograph of child.
  • Means of identification of Parents/Guardian
  • Proof of Address
  • One recent passport photograph of parent/guardian
  • Bank Verification Number of parent/guardian
  • Newspaper Publication plus Marriage Certificate or Sworn Affidavit (If account name differs from the name on ID)

UnionVibe – Student/NYSC

Account especially designed for young people.

  • Zero account opening balance. (N2, 500 required for debit card and minimum balance).
  • Daily minimum operating balance of N1, 000
  • Maximum daily cumulative balance of N1, 000,000
  • Access to mobile and internet banking
  • Access to debit card
  • Earn 4.2% interest

Requirements

    • Bank Verification Number
    • Temporary ID card issued by NYSC /School ID or Introductory letter from tertiary institution (Students) or Non Student Valid ID
    • NYSC Call up letter
    • Introduction letter from NYSC
    • Newspaper Publication plus Marriage Certificate or Sworn Affidavit (If account name differs from the name on ID)
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UnionHybrid Enterprise

Account designed for businesses with low turnover. You can earn interest on this account.

  • Account opening balance of N20, 000.
  • Daily minimum operating balance of N5, 000.
  • No maximum debit turnover.
  • Earn 4.2% interest. 
  • Get a customised cheque book. 
  • Third party withdrawals across the counter

Account Opening Requirements

Unregistered Clubs, Societies and Associations (No Legal search required).

  • Bye-Law and Constitution.
  • Minutes of Meeting.
  • 2 Passport photographs of each of the signatories.
  • KYC documentation (National ID, NIMC Slip,  Driver’s License, International Passport)
  • BVN is required for all the signatories to the account
  • Utility bill
  • Third party withdrawals across the counter

Registered Organizations (Enterprise and Ltd- Legal search required)

  • Memorandum and Articles of Association (MEMART)
  • Statement of Share Capital and Return of Allotment of Shares(CO2)
  • Particulars of the Directors (CO7)
  • Certificate of Incorporation
  • Application form for registration of business name(enterprise only)
  • Certificate of registration(enterprise only)
  • National ID, NIMC Slip, Driver’s License, International Passport and BVN of all the signatories and any shareholder that has 5% above (Limited companies only)
  • Tax Identification Number(TIN)
  • Utility bill

** References (optional – For lodgement of cheques above N2million)

Domiciliary

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A foreign currency denominated account that lets you save in US Dollars, Euros and Pounds.

  • Zero daily balance
  • Opening balance of $100
  • Earn interest with limited monthly withdrawals (interest will be forfeited after 3 withdrawals)
  • Use your MasterCard or Visa debit card for worldwide ATM withdrawals and online transactions
  • Safe and convenient 24/7 online and mobile banking with UnionOnline and UnionMobile
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