Co-operative Bank Account Types

Ida Musyoka

The Co-operative Bank of Kenya was voted the best bank when it comes to customer service. It came top beating 38 banks in the Kenya Bankers Association.

If you are looking for a bank that puts a top priority on the needs of its customers, this is a good bank to consider. They have branches in different parts of the country so it is a good bank to consider.

Different Accounts Offered by the Co-operative Bank of Kenya

Personal Banking

Current Account

A current account is a perfect account for people who want to take control of their finances and banking. It makes your banking flexible because you can deposit and withdraw your money anytime.

For this account, your need to have a national ID or passport, a KRA pin, one referee, and an opening balance of Ksh 5,000

Companies need to have a memorandum of association and an opening balance of KSh 10,000

Features and Benefits

  • Get a checkbook
  • Zero operating balance
  • Get monthly statements to monitor your transactions
  • Ledger fee of Ksh 35 per entry
  • Ksh 300 monthly maintenance

Salary Account

A salary account is tailored for salaried individuals. It helps them to get access to other services such as salary advances and salary loans.

To open this account you need a passport photo photograph, ID card, KRA pin and Ksh 600 for a debit card.

Features and Benefits

  • Zero opening and operating balance
  • Access to debit card
  • Access to salary advance and loans
  • Salary processing fee applicable
  • Zero monthly maintenance fee.

Hekima Savings Account

This is an account tailored for individuals who want to earn high interest for their savings.

To open this account you need your national ID card and a KRA pin

Features and Benefits

  • Zero – opening balance, operating balance, and maintenance fee
  • Interest paid quarterly on the operating balance
  • Statement send every six months
  • No ATM card
  • Only one withdrawal is allowed per quarter

Children Jumbo Junior Account

For children below 18 years, this account helps them to develop a saving culture. The account is opened by the parent on behalf of the child.

To open this account you need guardians (ID and KRA pin), a child birth certificate, an opening balance of Ksh 500, and an optional Ksh 600

Features and Benefits

  • Enjoy the benefits of membership to jumbo junior club
  • Interest rate of 3%
  • Bank cheque for school fees payment at a discount

Young Ennovators Account

This account is designed for the youth who are passionate about taking charge of their finances. It is ideal for people from 18 to 35 years.

To open this account, you need a copy of your ID card and KRA pin

Features and Benefits

  • Online banking features
  • Debit card at Ksh 600
  • Zero opening an operating balance
  • Discount on fees payment

Goldfish Access Account

If you are a high-income individual like a senior executive or business person, this is the right account for you.

To open this account you need a copy of your ID card, KRA pin, one referee, and an opening balance of Ksh 50,000

Features and Benefits

  • Maintaining a balance of Ksh 400
  • Opening balance of Ksh 50,000
  • Business Banking

Haba na Haba Account

An haba na haba account is the best choice for small business people. With this account, you can deal with the challenges that come with running a small business.

To open this account you need a copy of ID card, an opening balance of Ksh 550 and KRA pin

Features and Benefits

  • Access to business loans
  • Access to your money whenever you need it
  • Zero operating balance
  • Debit card
  • Low ledger fees

MSME Current Account

This is a current account for business people. It is available in three options; gold, silver and bronze depending on your needs. If you are a small business person you can go for bronze and if you have a larger business go for gold.

To open this account you need an ID card, KRA pin and an opening balance of Ksh 500

Features and Benefits

  • Monthly statements are available for free
  • Good rates on foreign exchange
  • Trade services financing
  • Get alerts through SMS or emails

Groups Account

Mshiriki Current Account

This is a good account for groups or chamas. It makes it easier for chama members to take control of their finances. the chama account is available for both formally registered groups and informal groups.

To open this account, registered groups need registration documents and the signatures of the members. Identification cards and KRA pins for members are needed. the account requires an opening balance of Ksh 2000.

Features and Benefits

  • Zero operating balance and ledger fees
  • Mobile and Internet banking for convenience
  • Free withdrawal and deposit at any time
  • Access to group loans
  • Checkbook available at Ksh 10 per leaflet


How do I choose the right co-op bank account?

Here are some factors to help you to choose the right account:

Your financial behavior – If you are the kind of person to perform transactions every day, a current account is good. On the other hand, if you are salaried and you get money only once a month, a salary account is ideal.

Your financial goal – It all comes down to what you want to achieve. If you want to save money, an Hekima account is the best option for you.

Get advice from the bank – If you are not sure about the type of account you want, you can always talk to the bank representatives, they will help you to make the right decision after assessing your financial situation and needs.

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Business writer, part-time teacher, self-taught chef and mom. I love business, finance, trying out new recipes, teaching and learning.
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