This 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.
No transaction charges of any kind are levied. A young Savers Membership card is issued which entitles the child to enjoy discounts at many shops and other outlets. Click here to view the various discounts offered by these outlets.
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. Download Now!
Account Features Minimum Balance 1,000/- 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