This is an account that helps group customers set aside funds for their goals while earning interest. It is useful for micro and small enterprise customers whose sole purpose is to borrow through the co-guarantee method.
Access your account through cheques, Internet Banking, Mobile Banking, Visa Debit Card, branches, and Co-op Bank Agents.
FEATURES:
Minimum opening balance - Kes 1,000
Minimum operating balance - Nil
No monthly maintenance fee - Nil
Unlimited Access to funds
Interest is earned for balances starting from Ksh. 5,000
Competitive Interest Rates
ENJOY ACCESS TO:
Free E-statements
Internet banking
Cheque book
Dedicated Account Relationship Officer
Chama Investment loan (for purchase of land, construction, buy ready built and equity-release loans, movable asset acquisition) of up to Kes 40 million
Group working capital solutions for members
Free standing order to the group savings account
M-collection and Lipa Na M Pesa integration
ACCOUNT OPENING REQUIREMENTS
REGISTERED GROUPS
(Registered as Self Help Groups,CBOs)
Copy of certified certificate of registration
Certified Introduction letter from DSDO (District Social Development Officer) with names of authorized officials.
Certified Copy of minutes Authorizing opening of an Account at Kingdom Bank, specific Branch with names of authorized officials & singing instructions
REGISTERED GROUP
(Registered as Investment Limited Entities)
Copy of Certificate of Incorporation
Copy of company KRA PIN
Copy of Memorandum and Articles of Association
Copy of CR12
Copies of Directors’ ID and PIN
Directors’ resolution to open an account at Kingdom Bank Ltd, specific branch, authorized signatories and signing instructions.
UNREGISTERED GROUP
(Joint Accounts of not less than 4 members)
Copy of minutes authorising opening of an account duly executed by all members, specifying the officials
Copy of a List of members duly signed with ID Numbers
