Providus Bank Limited is a Nigerian commercial bank established in 2016 and headquartered in Victoria Island, Lagos. It holds a commercial banking license from the Central Bank of Nigeria (CBN) and offers a wide range of financial services, including personal, corporate, and digital banking solutions. The bank is known for its innovative approach, leveraging technology to provide seamless banking experiences to individuals and businesses.
In 2024, Providus Bank Limited merged with Unity Bank, forming a new entity with Providus Bank Limited holding an 80% stake. The merger was supported by a ?700 billion loan from the CBN, aimed at strengthening the bank's capital base and expanding its reach.
FutureProvidus Account
- Target: Children under guardian supervision
- Minimum Opening Balance: ?10,000
- Highlights: Interest-bearing; can be opened online if guardian already has a Providus account; e?statements and alerts; debit card available upon request; parental control feature
Youth Account
- Target: Young adults aged 18–25
- Minimum Opening Balance: ?5,000
- Limits: Single deposit ≤ ?50,000; max balance ?300,000
- Highlights: Unlimited digital withdrawals; guaranteed interest; customized debit card with own photo; career development content; full digital banking access
Domiciliary Savings Account
- Target: Customers saving in foreign currencies (USD, GBP, EUR, YUAN)
- Minimum Opening Balance: $50 (or equivalent)
- Highlights: Digital banking; seamless local and international transfers; e?statements & alerts; linked foreign?currency access cards
Diaspora Savings Account
- Target: Nigerians living abroad
- Requirements: Valid ID, proof of foreign address, passport photo, notarized BVN (via embassy/notary)
- Highlights: Interest?bearing savings; digital access; trusted means to remit and save in Nigeria
- Steps To Prepare Required Documents
Current Account
- Target: Professionals, SMEs, businesses
- Minimum Opening Balance: ?250,000
- Requirements: Standard KYC documentation (ID, utility bill, references, etc.)
- Highlights: No minimum balance; instant debit card issuance; e?statement alerts; mobile/internet banking; third?party withdrawals
Steps to open account with Providus Bank Online:
Here’s a step-by-step guide on how to open an account online with Providus Bank as of 2025 (process may vary slightly depending on your chosen account type)
1.Visit the Online Account Portal
Go to the official Providus Bank website or directly to the online account opening platform. The secure account-opening URL is: Online Account Portal
2.Select Your Account Type
Choose the relevant type:
- Individual Savings Account (Personal, Youth, Future Providus, Affluent, Domiciliary, etc.)
- Corporate or Current Account, if it's for a business or organization
3.Enter BVN & Verify With OTP
- Provide your Bank Verification Number (BVN).
- Receive an OTP via SMS or email linked to your BVN.
- Enter the OTP to proceed to the next stage
4.Complete Personal & Account Details
You will be prompted to fill in:
- Full name, address, nationality, date of birth
- Contact information (email & phone number)
- Occupation, mother’s maiden name, preferred branch, card preference
- Account type selection or purpose
5.Upload Required Documents
Prepare and upload the following as JPEGs:
- Valid ID (NIN slip, National ID, International Passport, Driver’s Licence or Voters Card)
- Recent utility bill (not more than 3 months old)
- Passport photograph
- Specimen signature on a white background
6.Review, Accept Terms & Submit
- Carefully review your details and uploaded documentation.
- Read and accept terms and conditions.
- Submit your application
7.Check for Approval Notification
- Within 24–48 hours (often sooner), expect:
- An SMS and email confirmation including your new Providus account number and customer ID
8.Deposit Funds & Activate Card
- Deposit the minimum opening balance required:
- Usually ?5,000 for Youth, ?10,000 for Future Providus, ?250,000 for Affluent/Current, or ~$50 equivalent for domiciliary accounts
9.Register on Providus Plus App (Optional)
Download Providus Plus mobile app from the App Store or Google Play
- Log in using your new account number or customer ID
- Enable features: biometric login, QR payments, transfers, airtime & bill payments, etc.
Mandatory Requirements For Opening Providus Account
You’ll need the following for most accounts:
- BVN (Bank Verification Number) – mandatory. The bank can also assist in issuing one if you don’t already have it.
- Valid ID (Passport, Driver’s License, Voter’s Card, or National ID)
- Proof of address (utility bill not older than 3 months)
- Recent passport photograph and specimen signature in jpeg format.
- Additional for Current Account: two reference letters and a utility bill in your name.
If you run into issues (e.g. BVN mismatch or documentation problems), you might be asked to finalize things at a Providus branch.
Conclusion: Opening a Providus Bank Limited account is a smart choice for anyone looking for modern, flexible, and internationally compatible banking services. Whether you're an individual, entrepreneur, freelancer, or student, Providus offers a range of account types from basic savings to domiciliary and business accounts offers good services when Open providus bank account.
With a fully digital onboarding process, reliable mobile banking app, and widely accepted Mastercard options, Providus Bank stands out for its user-friendly experience, international payment support, and strong customer service.
