Types of KCB Bank Accounts Available

Kenya Commercial Bank (KCB) is the largest bank in Kenya with over 7 million account holders and a network of 192 branches spread out across the 47 counties.

The bank has various banking services for individuals and businesses. These services are primarily offered through different types of banking accounts that are tailored for the needs of the customer.

The accounts offered by KCB can be grouped into four main types:

• Personal Accounts – accounts for individual persons
• Biashara Accounts – accounts targeting SMEs and small business
• Corporate Accounts – accounts for large enterprises
• Diaspora Accounts – accounts for citizens abroad
• Sahl Banking – Shariah compliant accounts in all the above categories

Each of these broad categories offer a variety of banking products and accounts. Let’s take a look at some of them.

KCB Personal Accounts

These accounts are meant for individual persons. They are available in the following categoriess:

• Transactional Account – an account which you can deposit and withdraw money to and from at any time and provides the holder with a chequebook to make payments without using cash.
• Savings Account – an account for depositing savings with interest but with restrictions on withdrawals
• Premium Banking – personalized banking accounts with various perks
• Mobile Banking – mobile banking accounts integrated with M-PESA for loans and savings.

Transactional Accounts

1. Current Account
   A current account for individuals with access to a chequebook and KCB Visa Debit Card.
2. Jiinue Account
   An account targeting the employed and self-employed with low opening and operating balances, no restrictions on deposits and withdrawals and access to loans.
3. Bankika Personal Account
   An account targeting the youth with no monthly fees (charges transactions instead), a low operating balance and with access to a KCB Visa Debit Card.
4. Student Account
   An account targeting university and college students with no restrictions on deposits and withdrawals or monthly charges. It allows depositing of HELB loans and provides access to a KCB Visa debit card.

Savings Accounts

1. Goal Savings Account
   A savings account with competitive interest rates, free standing order and a loan facility based on one’s savings. Lock periods for savings range from 6 months up to 5 years.
2. Simba Savings Account
   An interest earning account with a low operating balance and that is restricted to one withdrawal per month.
3. Cub Account
   A savings account for children below the age of 18 years. It includes free standing orders and a free cubby kit to save at home.

Premium Banking Accounts

1. Advantage Banking Account
   A personalized current account with a dedicated relationship manager and
   access to premium services at KCB Advantage Banking centres.
2. Platinum Banking Account
   An all-inclusive family financial solution that includes a dedicated relationship manager, exclusive KCB platinum centres and access to safe deposit lockers.

Mobile Banking Accounts

1. KCB M-PESA
   An account available on the M-PESA menu that gives Safaricom customers easy access to instant loans from KCB. The account however also includes two saving options, target and fixed savings, with interest rates of over 6% p.a.
2. KCB M-Benki Account
   Part of KCB Mobile banking, this type of account can be opened conveniently using one’s mobile phone. Depositing and withdrawal is available through Safaricom M-PESA services and KCB Mtaani Agents. It has access to loans and supports transferring money to other bank accounts. The account however has restrictions on some services which can be removed by doing an account update at a KCB branch.

KCB Diaspora Banking

These accounts target Kenyans residing abroad.

1. Diaspora Current Account
   A current account with option for a foreign currency and access to internet and mobile banking.
2. Diaspora Transactional Account
   A transactional account available in all the major foreign currencies (USD, Euro & GBP etc) with access to internet and mobile banking.
3. Diaspora Student Account
   An account targeting students abroad, ideal for receiving and keeping tuition and pocket money. It has zero maintenance fees and no minimum balance requirements.

KCB Biashara Accounts

These accounts target business people, investment groups, corporates and other institutions. They are grouped into the following categories:

• SME (Small and Medium Enterprises)
• Small Businesses
• Agribusiness
• Chamas

SME Accounts

1. Current Account
2. Privilege Account
3. Learning Institution Account
4. Community Account
5. Telco Dealers and Agents Account
6. Business Savings Account

Agribusiness Accounts

1. Mavuno Account (Farmers Account)
   An account tailor-made for farmers with no minimum operating balance and maintenance fees. It also waiver charges for account activation, as these accounts become dormant periodically.

Chama Accounts

1. Tuungane Current Account
   A current account for small investment groups (chamas) that are both registered or unregistered. It has a zero opening balance, no minimum operating balance and no monthly maintenance fees.
2. Chama Goal Savings Account
   A savings account for small investment groups (chamas) that are both registered and unregistered. It comes with flexible saving periods of between 6 months and 5 years, access to loan facilities and free standing orders.

Small Business Accounts

1. Bankika Business
   An account targeting youths starting up small businesses. It provides access to loans and has no monthly maintenance fee or a minimum operating balance.
2. Entrepreneurs Account
   An account for customers starting up businesses with access to a cheque book and loans. It comes with no opening or minimum operating balance, no ledger fee and no maintenance fees.

Corporate Accounts

1. Current Account
   An account for both government and private institutions that’s ideal for running daily operations. It has access to internet banking, overdraft facilities and loans.

KCB Sahl Banking Accounts

Sahl banking provides accounts that are shariah compliant in all the major categories discussed in this page. The available accounts include:

• Personal SAHL
  1. Transactional Accounts
  2. Savings Accounts
  3. Premium Accounts
• Biashara SAHL
  1. Transactional Accounts
  2. Premium Accounts
  3. Agri-Business Account
• Corporate SAHL
  1. Transactional Accounts
• Diaspora SAHL
  1. Transactional Accounts