Young Savers is a children’s personal account with a minimum balance of Kenya Shillings 1,000 only. No cheque books or ATM Cards are issued and there are no ledger fees or account maintenance charges.
Additional Account Features
- No Ledger Fees
- No Account Maintenance Charges
- No Transaction Charges
- A young Savers Membership card is issued which entitles the child to enjoy discounts at many shops and other outlets. (See below)
Young Savers App
The Young Savers Account comes with the FREE and Exciting Young Savers App with features such as Group chat, Careers, Timetable, Games, Time Machine, Paint Board, Wish list creator and so much more. There is also a Pocket money feature specially designed to encourage money confidence amongst Young Savers. The brilliant tools are meant for your child to learn, get creative, innovative, have fun and keep him/ her occupied as you work from home or run errands. Dowload Now!
|Maximum Eligibility age||17|
|Interest Rate||70% of the prevailing Central Bank Rate|
|Interest Payment||Payable on the minimum monthly balance (accrued monthly and paid quarterly)|
|Additional Interest||50% additional interest payable at the end of the year on average yearly balance for withdrawals between 1 - 6 within the calender year.|
|Bonus Interest||If no withdrawals within one calender year, bonus interest of 1% p.a. at the end of the calendar year on average yearly balance|