
Best Banks for Savings Accounts in Kenya
This is a list of the best banks for savings accounts in Kenya. Banks offer different types of savings accounts depending on customers’ preferences.
The road to financial freedom is one of saving. In order to reach your savings objectives, you must put in a lot of effort. By saving, you can have the assurance that you have money set aside for unexpected events or unforeseen circumstances.
In order to understand how the savings accounts of various banks work, we have compiled a list of banks that offer savings accounts and their requirements. A bank may have one, two, or more types of savings accounts serving different purposes and with different features. This ensures every customer’s interests are safeguarded.
Best Banks for Savings Accounts In Kenya
1. CFC Stanbic Bank
To assist you in achieving your financial objectives, the bank provides a variety of savings and investment accounts that earn appealing and competitive interest rates. It provides the next individual savings accounts.
Call Deposit Account
With this account, you can earn an alluring return on your money while still having access to it as needed.
Its features include an initial deposit of Kshs 20,000, no service fee, attractive interest rates pegged on prevailing market rates, unlimited deposits, funds available on demand, and no notice required for liquidation to current or savings account.
Also, there is no maximum balance required on this account.
Read List of Commercial Banks Operating in Kenya.
Fixed Deposit Account
You are assured of a set return on your investment with this account over a specific time frame.
Its features include a minimum investment of Kshs 20,000; the deposit amount is fixed during the investment period; the interest rate is fixed during the investment period and is calculated and paid at maturity; funds are available upon maturity, and no maximum investment amount.
PureSave Account
The best savings account that Stanbic Bank offers is this one. It assists you in setting aside extra money and increasing your cash on hand. Your money works for your interest rates thanks to the product features and affordable rates.
Its features include attractive competitive rates on your savings and investment for balances above Kshs 5,000, no monthly fees charged, and you can borrow against your savings without interfering with them.
Also, one free cash withdrawal is allowed per month, a personal loan of up to 80% of your savings amount, and access to a current account with free access to mobile banking.
2. Standard Chartered Bank
Standard Chartered Bank provides a practical way to begin your savings journey by providing an outstanding savings account that is;