Kenyan banks have fixed Deposit Accounts, which attract the best interest rates. Account opening stipulate minimum required capital, documents necessary and interest rates for the deposits. Each bank has specific conditions, which we would outline below.
COOPERSTIVE BANK KENYA FIXED DEPOSIT ACCOUNT TERMS
This is an investment account in which a customer deposits a specified amount of money for a certain/fixed period of time.
The period ranges from 1 month to 12 months.
The customer is paid a competitive rate for the period the money is held in the account.
EQUITY BANK KENYA FIXED DEPOSIT ACCOUNT CAPITAL AND TERMS
This account provides you with a medium for investment opportunities for individual savers, businesses and organizations.
Features
- Minimum fixing amount Kshs.20,000
- Minimum period of one (1) month
- Negotiable interest rate
Benefits
- Premature withdrawal of deposits allowed
- Allows immediate borrowing of up to 80%
- Competitive interest rates
Requirements
- Original and photocopy of the National Identity Card or Passport
FAULU MICRO FINANCE FIXED DEPOSIT ACCOUNT CAPITAL AND FEATURES
| Faida Fixed Deposit Account is an investment avenue that earns you very attractive and competitive interest returns, aimed at customers with funds to invest for periods between 1- 36 Months.
Benefits of Faulu Faida Account
|
CFC STANBIC FIXED DEPOSIT ACCOUNT TERMS
What it offers you?
- Deposit amount is fixed during the investment period
- Interest rate is fixed during the investment period
- Funds are available on maturity
- No maximum investment amount
- You are informed of the interest payable at the time of opening your fixed deposit account
- No monthly fees charged
- Interest calculated and paid on maturity.
I&M BANK FIXED DEPOSIT ACCOUNT MINIMUM BALANCE AND FEATURES
- I&M Bank Fixed Deposits are accounts opened for fixed contracted periods, currently ranging from 1 month to 1 year. They earn interest at attractive rates, thus providing customers with long term savings growth opportunities.
Fixed Deposits can be opened in Kenya Shillings as well as in several international currencies viz US Dollars, Euro, GB Pounds, South African Rand.
| Account Features | |
| Minimum Deposit | 50,000/- |
| Term | 1 month to 1yr |
KCB BANK FIXED DEPOSIT ACCOUNT MINIMUM ACCOUNT BALANCE AND FEATURES
Fixed and Short term Deposit Accounts
Our competitive, high-yield accounts give you guaranteed interest on your short or long term investments.
Benefits
- Negotiable return on investment
- Unlimited investment amount
- Flexible in investment period of between 1 to 12 months.
- Negotiable return on investment
Standard Requirements
- Unlimited investment amount
- Flexible in investment period of between 1 to 12 months
- We offer competitive fixed deposit rates for local and foreign currencies on various tenors, specific to your requirements. Money must remain in the FDR account for the agreed period of time.
- Enjoy an interest rate of at least 7.35% p.a. on your savings
BANK OF AFRICA KENYA FIXED DEPOSIT ACCOUNT MINIMUM BALANCE AND INTEREST RATES
- Earns higher rates of interest than call deposit
- Preferable for longer investment periods i.e. for a few months
- Minimum amount to invest is Kshs 50,000
- Has defined investment periods of 1 month, 2 months, 3 months, 6 months and 1 year
- The rates payable are advised every month by
- Treasury and Liabilities departments and are based on current market conditions
- Funds can only be liquidated after the expiry of the investment period
- In case of an early withdrawal, a small % penalty is charged as follows:
- Cancelled before half the deposit period has elapsed, the rate applied when making payment shall be the prevailing call deposit rate for that particular amount
- Cancelled after half the deposit period has elapsed, the rate applied shall be less as follows:
-       Kshs – Agreed deposit rate less 2%
-Â Â Â Â Â Â Â USD, EURO, GBP – Agreed deposit rate less 1%
NATIONAL BANK OF KENYA FIXED DEPOSIT ACCOUNT FEATURES
Fixed Deposit Accounts
Customers with funds who desire to invest for certain periods that is 1month to 12 months
The periods include
- 1 month
- 3 months
- 6 months
- 12 months
Interest rates are attractive paid on maturity of the funds
To know the current interest rates kindly contact your nearest branch
POST BANK KENYA FIXED DEPOSIT ACCOUNT MINIMUM OPENING BALANCE AND FEATURES
Benefits of this account include:
- Flexible deposit periods to choose from i.e. 3,6,9,12,24 months.
- Attractive interest rates.
- No monthly ledger and maintenance fee charged.
- Option of self, joint or group participation.
Requirements for opening this account are:
- Minimum Balance of Kenya Shillings Thirty Thousand (30,000/-).
- Original and copy of national ID.
- Duly completed application form.
For details about opening a Fixed Deposit Account, do not hesitate to contact us or talk to a sales representative from your nearest Postbank Branch.
FAMILY BANK FIXED DEPOSIT ACCOUNT MINIMUM OPENING BALANCE AND FEATURES
Features
- Competitive interest rates offered
- Interest portion is paid in case of pre-mature withdrawal of deposit
- Automatic roll-over upon maturity can be pre-arranged
Benefits
- Low minimum deposit amounts of KES. 30,000/-
- Flexible terms of 1, 3, 6, 9 and 12 months
- Fast access to loans of up to 90% of the deposit amount
- Lower interest rate on loans secured by the deposit
Requirements
- Minimum amount ksh. 30,000
- Account for those in need of liquid investment avenues.
- Signed instructions from the customer.
NIC BANK KENYA FIXED DEPOSIT ACCOUNT FEATURES
This account is designed for children and teenagers below the age of 18 years. It is a free account that offers parents a saving platform towards securing their children’s future. Together, we teach your child how to save and manage finances at the earliest age.
It offers great benefits which include
- 4 Free banker’s cheque per annum
- Earns high interest rate – minimum payable is 70% of the prevailing Central Bank Rate
- Access to exclusive events organized by the Bank
Features of the account are:
- Opening balance of Ksh 2,000
- Minimum Interest earning balance of Ksh. 5,000
- No Ledger fee / monthly charges
- No charges for incoming transfers
- 4 free withdrawals per annum
BARCLAYS BANK KENYA FIXED DEPOSIT ACCOUNT MINIMUM BALANCE AND FEATURES
A Fixed Deposit Account can be a great way to save as it helps to remove the temptation to dig into your savings, all the while earning a higher rate of interest over a fixed term. As a Premier Banking customer you earn a significantly higher interest on your Fixed Deposits, with accounts available in both local and foreign currencies.
With your Fixed Deposit Account you get
- A fixed rate of return over an agreed period of 3 to 12 months calculated flat on the principal
- Choice of account currency (SCR, GBP, EUR and USD)
- Minimal cost on breakage of the deposit before maturity
You may apply for this account along with another applicant, where you may choose to have both parties be required to sign any instructions to debit the account or any of the parties sufficing for the transaction to be accepted. In addition, you may request for other parties to operate your Fixed Deposit Account on your behalf. We call such a nominated person an authorised signatory.
To open a Fixed Deposit Account, you are required to have a current or savings account with us. Upon applying for your Fixed Deposit Account, you can provide us with instructions on how to manage the principal and interest in the account upon maturity of the deposit or provide the instructions when you receive your Renewal Notice. You may ask us to roll over the deposit plus interest at current rates, to roll over the deposit only and credit the interest your current or savings account, or to credit the principal plus interest to your current or savings account.
While you are guaranteed a fixed interest on the principal, should you break your deposit prior to maturity, you will be charged a breakage fee and the pro-rated interest calculated based on the prevailing Instant Savings Account interest rate and the period over which the deposit was held.
KENYA WOMEN FINANCE TRUST FIXED DEPOSIT ACCOUNT MINIMUM ACCOUNT BALANCE, INTEREST RATES AND FEATURES
The Riziki Fixed Deposit Account is designed for individuals, groups and institutions who desire a savings plan for a fixed duration.
Features
– Minimum amount – From Ksh 5,000
– Open to wide range of amounts
– Flexible saving period
Benefits
– Negotiable and attractive rates of interest
– Flexible saving products.
– Special consideration when one applies for a loan
Requirements
– Copy of National ID
– Passport photo
TRANSNATIONAL BANK KENYA FIXED DEPOSIT ACCOUNT MINIMUM ACCOUNT BALANCE AND FEATURES
Fixed Deposit Account
You can invest amounts over Ksh. 50,000.00 with us at a fixed rate of interest and a specified time period, to a Transnational Bank Fixed Deposit Account. At maturity, you are entitled to receive the principal amount as well as the interest earned at the pre-specified rate during that period. The rate of interest offered depends on the period length of the deposit and the amount invested. The interest is calculated on a daily basis and paid on maturity. On maturity the proceeds can be re-invested, paid to other accounts with Transnational Bank or paid as per your instructions.
There are three types of such accounts:
– TNB Call Deposits Account
– TNB Fixed Deposit Account
– TNB Foreign Currency Deposit Account
Features:
– Minimum Balance of Kshs. 50,000
– USD 2,500
– GBP 1,500
– EUR 5,000
– Duration: Call (minimum 7days), One Month to One year, Two to five years
– Interest paid on maturity
– No Cash Handling commission on fresh deposits.
– No charge on banker’s cheque payment on maturity.