In a bid to encourage existing and prospective customers to save for their wards and put them on the path to financial independence, Vbank, Nigeria’s foremost digital bank, managed by VFD Microfinance Bank is continuing with its bespoke Children product- ‘’Vbank Children’s Day Target Savings Challenge (CDTS), beginning from this month to the 30th of April 2023.

The digital bank noted that the savings plan will run for a 12-month period as customers will get a 20 percent bonus on their first month of savings alongside regular Target Savings interest. 

Commenting, Vbank’s Brand Strategist, Olufemi Olasope, reiterated: ‘’We all want what’s best for the people we care for, especially our children. The best schools, clothes, and other necessities of life. The hard work pays off when they grow up. What if we told you that you could get paid for that hard work!

‘’You no longer need to wait for your reward, when you can enjoy a whopping 20% bonus on your savings for your kids from this month to the 30th of April 2023. Yes! We’re bringing back the VBank Children’s Day Target Savings Challenge (CDTS) with a bang!’’

He further added: ‘’The CDTS is our special way of encouraging existing and prospective customers to save for their kids/wards using the Target Savings feature on the app. This savings plan runs for a 12-month period after which you get a 20% bonus on your first-month savings alongside your regular target Savings interest.

‘’At the end of your savings period, you will be going home with an extra 20% interest on your first month’s contribution. If that isn’t balling, what else is!’’

Consequently, Olasope highlighted some conditions before getting these juicy interest rates which include:

1.    Contributions throughout the period must be equal. This means that your first month and subsequent months’ contributions must be the same for you to qualify for the bonus.

2.    Your Target Savings name should be in this format CDTS_Childs name_childs age. For example, (CDTS_Vee_9). 

3.    You have from May 11th, 2022, to June 11th, 2022, to set up your savings plan. The bonus will be given at the end of the period (on the 1st of May 2023). Note that your savings plan will officially end on the 30th of April 2023.

4.    Any break before the end of the savings period will disqualify you from getting your bonus.

5.    You can create multiple savings plans for your various kids/wards.

He stressed that the 20% bonus is only for the first month, urging prospective customers to start high and end high!

Don’t have a V Account? Opening a V Bank account is easy and can be completed within 2 minutes. All you need is to download the V by VFD app, available on the Android and iOS stores. You can create an account either by using your BVN number or an existing bank account number. Let the savings begin!

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