Below are some of the best banks in Kenya offering competitive savings accounts with details on their features and benefits:
1. Standard Chartered Bank
- Savings Account: Safari Savings Account
- Features:
- Opening balance: Ksh 2,000
- Free e-statements quarterly
- Interest rates: 0.5% to 4.25% depending on balance tiers
- Free withdrawals once a month
- Online/mobile banking access
- Features:
2. Stanbic Bank
- Savings Accounts:
- Call Deposit Account:
- Initial deposit: Ksh 20,000
- Attractive interest pegged on market rates
- No maximum balance required
- PureSave Account:
- Interest rates: 3% to 6% depending on balance tiers
- No monthly fees
- One free withdrawal per month
- Call Deposit Account:
3. Absa Bank
- Savings Accounts:
- Zidisha Bonus Account:
- Interest: 1.2% per annum
- Bonus for meeting savings goals
- Target Save Account:
- Investment period: 3-10 years
- Competitive interest rates
- Fixed Deposit Account:
- Flexible interest payment frequencies
- Zidisha Bonus Account:
4. NCBA Bank
- Savings Accounts:
- Gold Savings Account:
- Interest: 1.5% to 6% depending on amount saved
- Minimum balance: Ksh 2,000
- Junior Savings Account:
- For children with interest calculated daily
- Free funds transfer
- Gold Savings Account:
5. KCB Bank
- Savings Accounts:
- Simba Savings Account:
- Interest: 5% per annum
- Opening balance: Ksh 1,000
- Cub Account:
- Interest: Up to 5% per annum
- Zero monthly fees
- Simba Savings Account:
6. Equity Bank
- Savings Accounts:
- Eazzy Save Account:
- Savings over Ksh 20,000 attract competitive interest
- No monthly charges
- Jijenge Account:
- Minimum monthly contribution: Ksh 300
- Instant loans of up to 90% of savings
- Eazzy Save Account:
7. Co-operative Bank
- Savings Account: Hekima Savings Account
- Features:
- Interest: 3% per annum
- No opening or operating balance required
- One withdrawal per quarter
- Features:
8. Diamond Trust Bank (DTB)
- Savings Account:
- Features:
- 3% interest on balances over Ksh 1,000
- No ledger fees
- Free monthly e-statements
- Features:
9. National Bank
- Savings Accounts:
- Ahadi Savings Account:
- Interest: 5% per annum
- Minimum balance: Ksh 5,000
- Vision Saving Account:
- Designed for children
- Interest: 5% per annum
- Ahadi Savings Account:
Each of these banks offers unique features tailored for various savings needs, from personal goals to children’s education or long-term investments. Consider factors such as interest rates, withdrawal limitations, and additional benefits to choose the best option for your savings journey.
