Wema Bank
Personal Savings Account
- Minimum opening balance of N2,000.00
- No minimum operating balance.
- Maximum 4 withdrawals/month to qualify for interest
Interest Rate: |
4.65% |
Min. Opening Deposit: |
₦2,000.00 |
Monthly Withdrawal Limit: |
4 transactions |
Withdrawal Limit Penalty: |
Interest forfeited. |
Last Updated: |
Jun 02, 2026 |
Product Review
Expert Take
Wema Bank Personal Savings Account scores 3.6 out of 5, led by strong fees. The main tradeoff is interest rate/apy.
| Rating Criteria | Product Value | Score |
|---|---|---|
| Interest rate/APY | 4.650% | 1.8/5 |
| Minimum opening deposit | NGN 2,000.00 | 4.9/5 |
| Withdrawal limits per month | 4 per month | 3.9/5 |
| Cheque lodgement | Not allowed | 2.0/5 |
| Fees | NGN 0.00 | 5.0/5 |
Review Summary
This Personal Savings Account from Wema Bank has received a rating of 3.6 out of 5 stars. Key advantages include 2 notable benefits. However, there are 2 considerations to be aware of.
Pros
- minimum opening deposit
- fees
Cons
- interest rate/apy
- cheque lodgement
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