Kenya commercial bank is one of the leading banks in the country. It is one of the tier-one banks and it is popular for offering a variety of banking services and loan products. If you are looking for a secure bank that will give you trustworthy banking services, this is one of the best banks to consider. KCB has a strong market presence and has built a good reputation.
7 popular KCB Bank accounts
KCB Current Account
A current account is ideal for users who are looking for day-to-day banking. It allows you to make withdrawals, do electronic transfers, check payments, and do direct debits.
Features and Benefits
- Internet and mobile banking – Take control of your banking and perform all the transactions through their SMS USSD code or Internet banking.
- Checkbook – Receive a checkbook and issue checks to other financial institutions. Ideal for users who receive and give checks as a form of payment.
- Debit card – You get a debit card for easier cash management. With the card, you can withdraw cash at the ATM, make payments at POS and make online payments.
- Receive alerts on payments, and withdrawals through SMS or email
- Overdraft facility to withdraw cash more than the account balance. The overdraft limit is approved.
KCB Business Account
A KCB business account is designed for SMEs and large businesses. To open this account you need business registration documents, identification cars, a tax pin, proof of address, business licenses, a business profile, and an initial deposit to activate the account.
Features and Benefits
- All the benefits of a current account are explained above
- Cash management services – payroll management, bulk payment, and cash collection services
- Merchant services to debit and credit accept payment from customers
- Business loans to help with equipment and trade financing
- Advisory services to help with risk management and other banking services.
- Online banking services to manage transactions remotely
KCB Savings Account
A KCB savings account allows you to save your money and earn some interest from it. This account is ideal for people who want to accumulate money over a long period.
Features and Benefits
- Interest earnings – Unlike the normal current account, a savings account will earn you some interest
- Flexible depositing and withdrawal of your money
- Receive regular account statements to keep track of your finances
- Goal-based savings to help you reach your financial goals conveniently
KCB Fixed Deposit Account
A fixed deposit account allows you to deposit and save a certain amount of money for a specific period. Unlike a savings account, you keep the money for a specific amount period without withdrawing.
Features and Benefits
- High-interest rates compared to a savings account
- Deposit your amount for a specific time of time usually months even years
- Automatically renew your tenure to continue the fixed deposit
- Account system to monitor interests and how your money is growing.
KCB Diaspora Account
A KCB diaspora account is ideal for Kenyans living abroad. This account allows them to do transactions from abroad and manage their finances back home. The good news is that Kenyans abroad can open their account online without having to come back home.
Features and Benefits
- International banking – No matter where you are living, you can perform international banking remotely
- Convenient transactions – You can perform all the transactions like online cash transfers and payment of bills from anywhere in the world.
- Transact in multiple currencies – With a diaspora account, you can transact in some of the most popular currencies such as the Dollar, Euro, and British pounds.
- Get access to investment opportunities in Kenya and put your money to good use.
- Easy remittance of money from your international to your Kenyan account
- Personalized customer support to solve all your issues.
KCB Investment Account
A KCB investment is ideal for customers who want to grow their wealth. The account makes it easy to transact financial instruments and earn attractive returns.
Features and Benefits
- Get access to professional management – for people who have no idea about investment, you get professional management where the investment is done by professionals on your behalf.
- Proper risk management – with this account you can manage risk depending on your risk appetite.
- Allows you to diversify your risk and invest in different instruments to manage your risk
- Introduces you to different investment options such as unit trusts, treasury bonds, and money market funds
KCB Student Account
A KCB student account is tailored to meet the needs of students by offering convenient and affordable banking services. To open this account you must provide proof that you are a student.
Features and Benefits
- Reduced fees – This account comes with reduced fees since students have no income. You get lower transaction fees and lower maintenance fees.
- Digital banking – The ability to manage a student account online for services and transactions.
- Parental control – For students who are still under the care of parents, the account can be managed by the parents on their behalf.
- Financial education to help students to develop better financial habits.
- Students get access to a debit account that they can use to perform different online transactions.
How to Choose the Right KCB Bank Account
There are many account options when banking with KCB. here are some tips to help you to choose the right account:
Financial goals
What do you want to achieve? Do you want to save money or do you want to invest? For savings, there is a savings account and there is an investment account for investors.
Account requirements
Some accounts require you to meet special qualifications. For instance, for a business account, you need to have a registered business and for a student account, you need to show that you are a student.
Account Features
Look at the features carefully and determine whether they meet your lifestyle. For instance, if you like to write checks, you need an account that offers you a checkbook.
Fees
Remember to check how much it will take to maintain and run the account. Check the transactional and maintenance fees associated with the account. It is advisable to avoid accounts with additional charges that do not meet your financial needs.
