DIAMOND Bank Plc has opened a window of money management opportunities that will encourage Nigerian youths to develop a healthy savings character and build prudent expenditure and investment profiles. It has introduced the Diamond Future and Cool Teens Accounts, two financial products specially designed to enable teenagers save with excitement and also help parents save for their children and easily meet their future financial needs.
Ayona Trimnell, head, corporate communication of the bank, explained that the reason for developing the products was basically to enable Nigerian youths belong to the banking community and know that they have a right to start early to chart a healthy financial course in life. “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,” she said.
According to Trimnell, an extensive research conducted by Diamond Bank, in conjunction with Women’s World Banking, aimed at better understanding each client segment opened the door for the bank to work to meet these needs with a comprehensive offering of youth accounts specifically designed for each target segment. She explained that the Diamond Future Account was specifically designed for parents to save for their children while the Cool-Teens and S.W.A.G Accounts are for youths between the ages of 13 and 17 years and students in tertiary schools.
“We want to challenge young people, from early teenagers to more mature students and corps members, to visualise the future and work with them to bring their aspirations to life. We are excited to offer account features that will truly engage young people, motivate them to share their goals with others and challenge them to save more through contests and competitions with other youth. Most importantly, we are providing young Nigerians the opportunity to practice managing their own finances through accounts that are for them, not their parents.”
She revealed that the Diamond Future account is a parent-controlled account for parents with children up to 18 years of age. The account partners with parents to help secure their children’s bright future with a target plan that breaks down their savings goals into manageable steps. With the target plan, parents set a five-year savings goal and determine a flexible savings plan that works for them.
— Jun 15, 2015 @ 01:00 GMT