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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

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