• What is this product about?

It is a product specifically designed to encourage military and paramilitary people to save part of their income while in service so as to safeguard their future.

• Must I save money every month in the account?

Yes, you are required to save the minimum amount specified for the option chosen.

• Can I take a loan if I open this account?

No but you can use it as collateral to access retail credits especially consumer finance – Car lease, share purchase, mortgages.

• What is the maximum number of withdrawals I can make in a month?

More than two withdrawals in a month means forfeiture of interest.

• Can I lodge cheques and dividend warrants into my account?

Yes, lodgment of cheques and dividend warrants are allowed if you provide us with an additional referee who must be a current account holder of either UBA or any other bank in Nigeria in addition to the letter of introduction by your command or unit.

• Can I still run the account after exit or retirement from service?

No, the product is designed for serving military and paramilitary personnel. Therefore, it must be converted to regular savings account on retirement or exit from service.

• Can a retired military, police or paramilitary officer open this account?

No, the account is meant for serving officers only.

• What is the interest rate on this account?

It is normal savings rate of 2% p.a. paid on a quarterly basis provided withdrawals do not exceed twice monthly. Also a 2% bonus interest is payable on accounts that maintains the monthly deposits.

• What happens to my money in the event of death?

Payment will be made to a beneficiary/next of kin that you nominate on the application form on presentation of a signed obituary certified by the command and a death certificate.

• Can I deposit or withdraw from any other branch apart from where my account was opened?

Yes you can deposit or withdraw from any branch but transactions from Business Offices apart from where the account is domicile attract charges.

• How frequently do I get a statement of account?

You can a statement of account every month.