PRODUCTS & SERVICES

ACCOUNTS

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Asset Mali Account

This account allows a customer to purchase and acquire business assets such as motorcycles, tricycles, office equipment, household appliances e.g. television sets, refrigerator, and utensils. It’s an avenue to acquire valuable items.

Features

• Minimum Account balance
• Flexible duration 3- 12 months
• Daily/weekly/monthly savings
• Easy asset acquisition .A client contributes up to 50% as stake for loan which is subject to further negotiations.
• Funds not accessible within 60 days
• Daily/weekly/monthly savings
• The asset serves as a collateral
• No Account maintenance/ledger fees
• Premium interest rates on deposits

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Maendeleo Akiba Account

This account will provide the customers with a vehicle for savings and is open for everyone. The account is suitable for customers with regular income e.g. salary, pensions, rental income etc. including SMEs and institutions.

Benefits Features

• Opening balance of Kshs.500/=
• No minimum operating amount
• Unlimited access using ATM
• No monthly maintenance/ledger fee
• Very flexible - can deposit any amount.
• Premium interest rates on deposits
• Withdrawal against un cleared effects
• Ideal for all i.e. individuals [salaried/ pensionable], groups, associations etc.

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Student Account

This account it meant to meet students needs.

Features

• Minimum operating balance
• Easy opening/operating Requirements
• 24 hours access to cash through the ATM
• Unlimited withdrawals
• One must a student between 18 -25 years of age.
• Access to loans as little as Ksh. 5,000/-
• Free statement semi-annually.
• No Account maintenance/ledger fees
• Premium interest rates on deposits

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School Fees Account

It’s an investment that enables parents to bequeath quality education to their children. It’s aimed at savings towards the planning, funding and general wellbeing of our children’s education. Parents are to simply put aside a little amount of money daily weekly or monthly.

Features

• Minimum Operating balance
• 24 Hours access to funds through ATM
• Access to loan for the parents
• The guardian operates the account on behalf of the child.
• The guardian can access soft school loans for children’s school fees.
• No Account maintenance/ledger fees
• Premium interest rates on deposits
• 1 free banker’s cheque per term

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Silver Chama Account

This product will offer an attractive investment medium for Kenyans organized in Solidarity Groups/Self-Help groups (especially those by Jua Kali micro-business operators) to save, invest and grow their wealth for collective development. Women and youth will particularly be encouraged to form groups to save and to enable them access loans.

Features

• Minimum operating balance
• 5-10 members
• Easy access to loans
• Group guarantee for individual member borrowings backed by amount of group’s savings held.
• Free monthly statements.
• Individual members of normal groups can borrow up to three times the level of their deposits
• No Account maintenance/ledger fees
• Premium interest rates on deposits
• Withdrawal at ATM
• Over the counter withdrawal

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Wakulima Account

The account is designed to enable farmers finance their agricultural projects and grow their yield in season by savings towards the project which will be financed by the bank. Targets farmers who are in cattle rearing, sheep and poultry both as individuals and chamas.

Features

• Opening balance
• Minimum Operating Balance for both groups and individuals
• Daily/weekly/monthly savings
• Free quarterly statement
• The client must be above 18 years of age
• Saves up to 30% of the project cost to be eligible for financing
• No Account maintenance/ledger fees
• Premium interest rates on deposits
• Withdrawal at ATM
• Over the counter withdrawal

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Choice Premium Savings Account

The account will target high net worth individuals, corporates and institutions.

Features

• Personalized customer service
• Free ATM card
• Easy access to loans up to 80% of deposit held.
• Easy access through ATM
• Account Maintenance fees
• Account minimum balance maintained
• Premium interest rates on deposits
• Withdrawal at ATM

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Faidikeni Fixed Deposit Account

This is a general account suitable for individuals, MSMEs and Corporates with surplus or idle funds for investment/savings. These could be insurance companies, pension schemes, NGOs, Parastatal, high net worth individuals etc.

Features

• No Ledger fee
• The fixed terms are 3,6,9,12,18 and 24 months
• Option of individual, joint or group participation
• Access to loan of up to 80% of deposit
• Deposit used as collateral

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Choice Current Account

This account is meant for individuals and institutions having large numbers or volumes of transactions, mainly for meeting their day-to-day business and operational requirements, and need a current account for maintaining their operational fund balances.

Current Accounts can be opened by individuals, sole proprietary concerns, partnership firms, companies, clubs, associations, trusts, government bodies, co-operativesocieties etc.

A current account is operated only through cheques provided by the bank. It is used to collect cheques, bills etc. of the parties, and to make cash and clearing payments inrespect of cheques issued by the account holder.

Features

• Account opening balance
• No minimum operating balance
• Unlimited access to funds using ATM
• Easy access to Overdraft facilities
• Account Maintenance fees
• Cheque Book

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Choice Kids Account

This account is geared towards a saving culture for kids by their guardians.

Features

• No minimum operating balance
• No account maintenance/ledger fees
• Access to funds through ATM
• Premium interest rates on saving deposits

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Maua Savings Account

The account is designed to accommodate the employees working in flower firms in thearea of our operations. The product is crafted to be able to meet their financial needs in their day to day operations.

Features

• Minimum operating balance
• Accessibility of funds 24 hours through ATM
• Unlimited withdrawals
• Accessing salary and salary advance
• The client must be a worker in the flower firms.
• The salary to have been routed in the account for 3 months to qualify for a salary advance.
• Can access a salary advance of up to 1/3 of net salary
• No Account maintenance/ledger fees
• Premium interest rates on deposits

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