GT Bank Now Helps You Save Money for a Purpose via Target Account

Credit: GT Bank

The GuarantyTrust Bank Target is a platform through which you can save money automatically. It is a new innovation by Guaranty Trust Bank Plc. which encourages financial discipline through savings. The new innovative product is purposely designed to enable its customers save for a purpose with a certain target, such as: higher education, purchase of new car, building a new house, wedding, holiday, etc. Whatever your goal could be financially, the Guaranty Trust Bank Target is there to help you make it a reality.

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As soon as you have signed up for the Guaranty Trust Bank Target account, you can go ahead to set up standing instruction orders to funding your Guaranty Trust Bank Target account at your desired pace. Note that Guaranty Trust Bank Plc. will require that you provide the account which will be debited for the standing instruction orders you have given, the exact amount to be debited in the account you have provided, the frequency at which debit shall be made, for instance; (thirty days, three months, six months, etc.), the start date for debit and end date for same.

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For instance, if you want to have Nine Hundred Thousand Naira (N900,000) in six months, you can give Guaranty Trust Bank a standing order to have One Hundred and Fifty Thousand Naira (N150,000) automatically transferred from your Guaranty Trust Bank savings or current account to your Guaranty Trust Bank Target account at a certain time every month for the period of six months.

The question now is; what do you plan to save for? Is it for your higher education, house, Bugatti car, Apple laptop, or what? All you need do is place a standing order to Guaranty Trust Bank to make regular, fixed payments from your savings or current account to your GT Bank Target account.

Note that each time you wish to withdraw from your Guaranty Trust Bank Target account for the purpose you are saving, you can transfer the actual amount you wish to withdraw to your Savings or current account so you may withdraw the money either at the banking hall, at the ATM or use it for online transactions on the internet.

Seven Things the Guaranty Trust Bank Target Account Can Offer

1. It offers you a minimum savings period of six months
2. It is a non-transactional account
3. You have zero account opening balance
4. You can make standing order at a frequency of monthly, quarterly or semi-annually
5. You can make mandatory standing order of Five Thousand Naira (N5, 000) minimum 
6. You can open maximum of three sub accounts for different financial goals and targets
7. You can open the account on Guaranty Trust Bank internet banking platform or by walking into any branch of the bank nationwide.

Steps to Opening Guaranty Trust Bank Target Account on the Internet Banking Platform of the Bank

1.  Log in to the Guaranty Trust Bank Internet Banking Platform
2. Click on "Self Service" on the side menu.
3. Click on "GT Target Account" and follow the instructions.
4. Guaranty Trust Bank Target Account number will be generated for you automatically.
5. Thereafter, proceed to place your standing order instruction.

Congratulations! You are done with account opening.