Opening a kids savings account is a smart way to secure your child’s financial future. These accounts help parents set aside money for school fees, emergencies, or future investments—instilling a savings culture from a young age. In Kenya, many banks offer kid-friendly accounts with attractive features like zero monthly fees, interest accrual, and educational perks.
Below is a curated list of the best children’s savings accounts in Kenya, including benefits, requirements, and how each stands out.
🐾 1. KCB Cub Account – Kenya Commercial Bank
KCB’s Cub Account is ideal for parents looking to grow their child’s savings.
Interest Rate: Up to 5% p.a.
Charges: No monthly fees
Opening Balance: Kshs 1,000
Requirements:
- Parent/Guardian’s ID or passport
- Passport photo of parent/guardian
- Child’s birth certificate
🐘 2. Jumbo Junior Account – Co-operative Bank
Designed for kids under 18, this account comes with membership to the Jumbo Junior Club, birthday surprises, and free ele-banks.
Interest Rate: 3%
Opening Balance: Kshs 500
Perks:
- Birthday cards and branded piggy banks
- Discounted bank cheques
- Optional debit card at Kshs 600
Requirements:
- Parent’s ID & KRA PIN
- Child’s birth certificate
🌱 3. Junior Member Account – Equity Bank
Equity’s account helps build financial literacy for kids below 18.
Opening & Operating Balance: None
Interest Accrual: From Kshs 10,000
Perks:
- Free deposits
- One withdrawal every 3 months
- Mobile banking support
- Free piggy bank with Kshs 1,000 deposit
Requirements:
- Guardian’s ID
- Child’s birth certificate or notification
🦁 4. Safari Savings Junior Account – Standard Chartered
A secure and easy-to-manage account with flexible access.
Opening Balance: Kshs 2,000
Interest: Variable; paid quarterly
Benefits:
- Free e-statements
- No withdrawal charges
Requirements:
- Birth certificate
- Parent/guardian’s ID/passport
- Passport photo
💎 5. HF Junior Treasure Account – HF Group
A savings account built with long-term benefits and extras for kids.
Interest: Tiered; from Kshs 5,000
Withdrawal: 1 per quarter
Extras:
- Free piggy bank
- Annual fun-days
- Access to insurance products
Requirements:
- Parent’s ID and 2 passport photos
- KRA PIN
- Child’s birth certificate
🌟 6. Mdosi Junior Account – Family Bank
Targeted at children under 12, this account is flexible and rewarding.
Interest Threshold: Kshs 5,000
Withdrawals: 3 free per year
Loans: Up to 90% of savings
Requirements:
- Parent’s ID/passport
- Child’s birth or baptism certificate, clinic card
- Opening balance: Kshs 200 (Kshs 1,000 for piggy bank)
🚀 7. NCBA Junior Savings Account
Designed for savings flexibility and convenience.
Interest: Paid quarterly, from Kshs 5,000
Minimum Balance: Kshs 2,000
Features:
- Free internal transfers
- Unlimited deposits
- Quarterly e-statements
🌈 8. Youngstar Account – ABC Bank
A savings platform with a strong focus on accessibility.
Opening & Operating Balance: Kshs 1,000
Perks:
- One free withdrawal per month
- Free e-statements
- Standing orders from ABC accounts
🎓 9. Vision Savings Account – National Bank of Kenya
This plan provides reliable rates and value for families.
Interest Rate: 5% per annum
Opening Balance: Kshs 500
Add-ons:
- Free withdrawals
- Free banker’s cheque
Requirements:
- Guardian’s ID & KRA PIN
- Child’s birth certificate
- 1 passport photo
- Proof of address
🧒 10. Absa Junior Savings Account – Absa Bank Kenya
A fun and education-focused kids account with high interest.
Interest Rate: Starting at 7% p.a.
Charges: None
Perks:
- Free piggy bank
- Access to events and Absa Junior Partners
- Educational and insurance benefits
Requirements:
- Child’s birth certificate/adoption papers
- Parent’s ID & KRA PIN
✅ Choosing the Right Account
When selecting a kids savings account in Kenya, consider:
- Minimum deposit and operating balance
- Interest rate and payout frequency
- Withdrawal rules and fees
- Extras like piggy banks, clubs, insurance, or education perks