Secure the future education of your children or wards by setting up a Children Education Trust.
We protect your funds for the education of your children, providing new opportunities for generations to come.
- Minimum startup contribution of N500,000 per child
- Minimum subsequent contributions as determined by the Settlor
- Maturity is tied to the fulfillment of the object of the Trust or as may be otherwise directed by the Settlor
- The Fund shall be locked up for an initial minimum period of 2 years before withdrawals can be made
- Withdrawal from the Trust Fund is limited only to educational expenses for the beneficiaries upon presentation and confirmation of invoice from child’s school
- Third parties are precluded from having access to the Trust Fund, although they are allowed to make contributions
- An executor or administrator cannot terminate the Trust but can contribute to the Trust
- School fees can be paid directly from the Trust Fund as captured in the Trust Declaration
- Ensures commitment to investment plan for your Child's education continues after Settlor's demise subject to funds in the Trust account
- Life policy could be taken on the Trust which enhances the value of the Trust Fund (optional)
- The FBN Children Education Trust can be opened at any FirstBank branch upon the payment of the minimum subscription amount.
For more information, please click below and an Adviser will contact you.
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