- A Nigerian mum has gone public to show netizens the mind-boggling interest that was credited to her young daughter’s bank account
- According to the woman, the bank pays her daughter that amount as interest every month, lamenting that her own bank does not give her any interest
- Apart from the interest, she observed the state withholding tax of N3k that was deducted from her daughter’s account and questioned it
Amarachi Iwuala, a Nigerian mum, was blown away after seeing the monthly interest that came into her young daughter’s account on April 30.
Amarachi shared a screenshot showing the interest credited to her daughter’s account by the end of April, as well as the state withholding tax deducted from her account.
Photo Credit: Amarachi Iwuala
Source: Facebook
How much interest bank paid girl
In her Facebook post on May 1, Amarachi noted that her daughter’s bank gives her the same interest every month, noting that her own bank does not give her interest, and even when they do, it is nothing to write home about.
From the screenshot, the bank paid Amarachi‘s daughter an interest of N37, 088.56. She admitted to considering opening an account for herself in her daughter’s bank owing to the enticing interest.
While keeping mum on the name of her daughter’s bank, she wondered why the bank charged her child a state withholding tax of N3,708.86.
“My daughter’s bank surprises me till date. The interest they give her monthly ehn🔥.
“See the amount they gave her as interest yesterday😳, over 37k just for banking with them, and this comes monthly!
“My bank doesn’t give me interest no matter how much I have there 🙄, if they give, it’s a laugh compared to what my daughter’s bank gives her. Maybe because it’s a child’s account 🤔.
“I’m really thinking of opening an account for myself in her bank. This interest cannot pass me by 😅.
“I’m not mentioning the names of banks, before they say one bank paid me to demarket another. I no get strength for détention and court case.
“But wait o, so children pay tax too?🤔 or what is that State withholding tax that they took a whole 3k plus for?” the woman wrote on Facebook.
Photo Credit: Amarachi Iwuala
Source: Facebook
See her Facebook post below:
Reactions trail interest woman’s child received
Legit.ng has compiled some reactions to the interest that the woman’s child got below:
Obinna Joy Kandy said:
“Your daughter doesn’t touch the money but you are always withdrawing and spending money. Leave your money for two months and you will receive the interest.”
Joyce Ifie said:
“Na who get millions dey receive this interest not thousands oooo.
“Make una dey say full gist.”
Igwe Chinwendu Anyika said:
“Wow.. This is huge.”
Oge Uzochukwu said:
“All Banks pay interest at the end of the month provided it’s a savings account.
“The clause is that you shouldn’t touch the money for the whole 30/31 days.”
Phebe Molokwu said:
“Everyone pays WHT, and is charged based on interest received on investments or bank accounts.”
Afro Hairssentials said:
“Do you withdraw money from the account? I’m asking to confirm why the interest makes plenty sense. According what I heard money should not be withdrawn more than maybe 3 or 4 times a month if you want to see interest.”
Mbah Ogechi Obi said:
“This is Zenith Bank, I receive interest as well monthly from Zenith. The interest depends on how much you have in the account and how many transactions you did in a month.
“I don’t use mine for transactions, so monthly interest is always assured.”
In a related story, Legit.ng reported that a lady had amazed people by displaying the interest that her bank paid her.
Interest Piggyvest paid lady for one month
Meanwhile, Legit.ng previously reported that a lady had displayed the interest that Piggvest paid her after saving with the platform for a month.
While she did not disclose the amount she deposited, she said she saved the money via the platform’s Flex Naira account.
In a Facebook post, she aimed a dig at other commercial banks, saying they would have deducted her money under the guise of charges.
Source: Legit.ng