Requirements to Open a Stanbic Bank Account in Kenya

Stanbic Bank offers a variety of accounts tailored for personal, business, savings, and investment needs. Below is a detailed breakdown of the account options, their features, benefits, and requirements.

A. Personal Transactional Accounts

1. Private Banking Current Account

• Features:
  • Dedicated relationship managers and tellers.
  • Visa debit card and Gold credit card.
  • Free life insurance cover up to Kshs 1,000,000.
  • Access to personal loans, home loans, and asset financing.
  • Offshore banking services.
• Requirements:
  • Copy of National ID.
  • Proof of residence (utility bill or lease agreement).
  • KRA PIN.
  • 3 months bank statement or a recent payslip.

2. Smart Direct Account

• Features:
  • Minimum operating balance: Kshs 1,000.
  • Free monthly e-statements.
  • Loan facilities, including salary advances.
• Requirements:
  • Copy of National ID.
  • Proof of residence.
  • KRA PIN.
  • One month’s bank statement or a recent payslip.

3. Executive Banking Account

• Features:
  • Monthly bundle fee: Kshs 990.
  • Life cover of 6 months’ gross income (up to Kshs 1.8M).
  • Funeral cover: Kshs 100,000.
  • Free salary credit and cash advances.
• Requirements:
  • Same as the Private Banking Current Account.
  • Eligible to individuals aged 18 years and above.

B. Business Bank Accounts

1. Business Current Account

• Features:
  • Operates in KES and major foreign currencies.
  • Access to loans, trade finance, and business online platform.
• Requirements:
  • Copy of certificate of incorporation.
  • KRA PIN.
  • Memorandum and Articles of Association.
  • CR12 form and latest annual return.
  • Copies of directors’ IDs, photos, and proof of residence.
  • Board resolution to open the account.

2. Pamoja Trader Business Account

• Features:
  • Pay-as-you-go charges.
  • No minimum balance.
  • Access to loans, internet banking, and ATMs.
• Requirements:
  • Same as the Business Current Account.

C. Savings and Investment Accounts

1. Call Deposit Account

• Features:
  • Minimum deposit: Kshs 20,000.
  • No service fees.
  • Attractive interest rates pegged to market rates.
• Requirements:
  • Copy of ID.
  • Passport photo.
  • Proof of residence.
  • KRA PIN.

2. PureSave Account

• Features:
  • Attractive interest rates for balances above Kshs 5,000.
  • One free cash withdrawal per month.
  • Personal loans up to 80% of savings.
• Requirements:
  • Same as the Call Deposit Account.

3. Fixed Deposit Account

• Features:
  • Minimum deposit: Kshs 20,000.
  • Fixed interest rate during the investment period.
  • Funds available upon maturity.
• Requirements:
  • Same as the Call Deposit Account.

Stanbic Bank Contacts

• Local: 0800 720 044
• International: 020 326 8888
• Email: [email protected]