CFC Stanbic Bank is one of the banks with the best interest rates in Kenya on Fixed Deposit plan.The bank allows you to deposit as little as Ksh10,000 every month and offer interest rates as high as 12 %.
Opening an account at CFC Stanbic bank takes at most 20 minutes. What is required is copies of your ID card, passport photo and of course your personal information.
When opening the fixed deposit account, you are required to deposit some amount, usually Ksh50, 000 to start operating the account. You can specify the amount you want to deposit periodically and the time you are likely to withdraw the amount.
To be honest with you, chances of earning substantial amount when you save little amount are low-the amount to save so as to realize good returns in terms of interest is Ksh 50,000 and above monthly.
But I can recommend anyone intending to open a fixed deposit account to consider CFC Stanbic bank Kenya because their interests range from 8 %-14 %,which you are not likely to get anywhere.