Whether you’re in school or just starting out, choosing the right savings account can help build financial habits and earn you interest. Here are some of the best options tailored for youth:
1. FBNBank – XploreFirst Account
Perfect for students aged 16–30 who want flexible, fee-free saving.
•Minimum deposit: GH¢5
•Features: No service fee, competitive interest, personalized MasterCard, free alerts, fee discounts on school fee drafts, mobile and online banking.
•Eligibility: Must present student ID or admission letter.
2. UBA – Next-Gen Account
A youth-focused account for students and national service personnel.
•Minimum deposit: GH¢50 opening, GH¢20 operating
•Interest: ~3% per annum
•Perks: Internet banking, notifications, and even internship opportunities.
3. CalBank – Student Account
Ideal for undergraduates seeking convenience and no fees.
•Initial deposit: GH¢20
•Interest: Offered on balances over GH¢200 (tiered rates)
•Features: Zero service fees, free e-statements, app and USSD banking, E-zwich card access.
4. GTBank – GTCrea8 Student Account
Excellent for students seeking flexibility and zero balance requirements.
•Initial/minimum balance: None
•Features: Higher interest than standard savings, free Visa/MasterCard debit card, e-channels access.
•Eligibility: Valid school ID or admission letter required.
5. Databank – Student Investment Account (DSIA)
For students serious about investing and wealth-building.
•Minimum initial investment: GH¢25
•Monthly deposit: GH¢20
•One-time fee: GH¢10 membership; card includes discounts
•Invests in: Mutual fund (EdIFund Tier 1) combining equities and fixed-income for long-term growth.
6. Prudential – Campus Connect Account
Geared toward tertiary students wanting digital access and financial guidance.
•No maintenance fees
•Features: Free ATM card, mobile & internet banking, mentorship forums, internship opportunities.
7. Student Credit Union Accounts (e.g., UG Credit Union)**
Builds savings habits through structured plans.
•Youth Savings & Smart Save accounts for students with minimal deposit (~GH¢30/month), interest earned, and educational debt planning.
•Good for: Growing financial literacy and creating disciplined savings routines.
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These reflect trust and satisfaction with digital-first platforms and reliable banks.
Account
Best For
Key Features
XploreFirst (FBNBank)
Undergraduates (16–30)
Low deposit, fee-free, discount on fees
Next-Gen (UBA)
Students & National Service Personnel
Affordable, internet banking, internships
Student (CalBank)
College Students
No fees, tiered interest, app banking
GTCrea8 (GTBank)
Budget-conscious students
Zero balance, free card, higher interest
DSIA (Databank)
Students interested in investing
Low entry, mutual fund investment
Campus Connect
Tech-savvy students
No fees, mentorship, app access
Credit Union Accounts
Savings habit builders
Low/monthly deposits, interest, budgeting
Final Thoughts
Choose based on your goals:
•Saving with ease? Try GTCrea8 or XploreFirst.
•Want long-term investment growth? DSIA stands out.
•Looking for digital convenience with guidance? Go for Campus Connect.