Which student bank account should you open before graduation?

Financial well being is a moral that crops up from a tender age, and the best setting for this is school. It is certain that you, once in a while, have a hope of earning money; and the moral guarantees an output in either expenditure or savings. Have you thought of opening a student bank account before you graduate? This post serves you right.

Numerous banking institutions have offers for youths in regards to account opening and secure saving. But just a few have designated student accounts. Below is a count out of the few student bank accounts you could find attractive for your financial breakthrough.

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1. CenteVolution

This is Centenary Bank’s kickstarter to a student saving culture. It comes with benefits such as zero Account maintenance fees, an attractive interest, instant transaction alerts, and cash withdraw and deposit to account  through  Mobile money agents using CenteMobile. With it, you can also access free Bank drafts for school fees payment and a free account statement issued once a quarter.

The requirements for opening are:

  • Minimum account opening cash deposit of UShs. 5,000
  • Ÿ  Two (2) most recent passport size photos of the applicant
  • Ÿ  Valid identification document – Student ID Card, Passport, Driving License or voter’s card
  • Ÿ   Introductory letter from School Head/ Dean/Hall Warden/Students Guild

2. Dfcu Campus Plus

This is another fixed deposit student bank account designed to cater for unique needs of students in institutions of higher learning, which guarantees a more pleasurable banking experience on campus. It comes with similar benefits as the CenteVolution, though it’s only available for selected Dfcu branches.

Basic requirements for opening the account include:

  • Proper documentary identification (valid students’ ID)
  • Two passport-size photographs
  • Minimum account opening balance UGX. 20,000.
  • Proof of residence. ( School or Admission letter)
  • Proof of date of birth ( Birth certificate, National ID).

3. Stanbic Bank Ez Dimes

Pronounced as ‘Easy dimes’, this account is specifically designed to help youth save and achieve their dreams. It is targeted to those between 18- 25 years of age who are studying either in high school, university, college or any other tertiary institution.

With it, you enjoy free ATM deposits and withdraws, zero monthly charges, free internet banking, and access to EZ Dimes bi-annual career guidance and financial literacy seminars.

Account opening requirements are:

  •  Copy of Valid student ID
  • Two passport size photos
  •  School admission letter
  • Minimum deposit of UGX 5,000

With any student bank account, you can begin on your journey of saving as you build on your future. And as a student, it comes with no cost.