Which bank has the best savings account in Kenya?

Bank Account Name Min. Account Balance
Prime Junior 5,000
SBM Bank Pebble 2,000
Instant Saver 2,000
Sidian Bank Premium 10,000

Which is the best bank for a savings account?

Best Savings Accounts – May 2021

  • Marcus by Goldman Sachs, APY: 0.50%, Min. Balance: $0.
  • Ally Bank, APY: 0.50%, Min. Balance: $0.
  • Regions Financial Corp., APY: 0.50%, Min. Balance: $50.
  • Capital One Financial Corp., APY: 0.40%, Min. Balance: $0.
  • American Express Co., APY: 0.40%, Min. Balance: $0.

Which bank has the highest interest rate in Kenya?

The Standard Chartered Bank has one of the most competitive fixed deposit interest rates in Kenya. The interest is calculated on a daily basis and is paid on the date of maturity.

Which is the best bank to invest in Kenya?

Top 10 Investment Banks in Kenya

  1. African Alliance Investment Bank (AAIB) The African Alliance Investment Bank is among the top ten investment banks in Kenya. …
  2. AIB Capital Limited. …
  3. Equity Bank. …
  4. ABC Bank/ABC Capital. …
  5. Apex Africa Capital Limited. …
  6. Dyer and Blair investment bank. …
  7. The Central Bank of Kenya. …
  8. NIC Bank.
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Where should I put my savings?

A savings account at your local bank or credit union is typically the most convenient place to save money. If you need to make a deposit or withdrawal, you can pop into a local branch or visit the ATM. The downside is that you may not be putting your money to the best use possible with a traditional savings account.

How do I choose a savings account?

Here are seven steps you should take to select a savings account as interest rates rise.

  1. Shop around. …
  2. Bypass brick-and-mortar banks. …
  3. Look local. …
  4. Avoid bait-and-switch. …
  5. Stay liquid. …
  6. Check terms and conditions. …
  7. Put savings on autopilot.


How can I earn more interest on my savings?

  1. Open a high-interest online savings account. You don’t have to settle for cents of interest that you may get from a traditional brick-and-mortar bank’s regular savings account. …
  2. Switch to a high-yield checking account. Some checking accounts have high rates, with some hoops. …
  3. Build a CD ladder. …
  4. Join a credit union.


What is the best account to earn interest?

High-yield savings accounts are a type of savings account, complete with FDIC protection, which earn a higher interest rate than a standard savings account. The reason that it earns more money is that it usually requires a larger initial deposit, and access to the account is limited.

How can I double my money in bank?

Here are some options to double your money:

  1. Tax-free Bonds. Initially tax- free bonds were issued only in specific periods. …
  2. Kisan Vikas Patra (KVP) …
  3. Corporate Deposits/Non-Convertible Debentures (NCD) …
  4. National Savings Certificates. …
  5. Bank Fixed Deposits. …
  6. Public Provident Fund (PPF) …
  7. Mutual Funds (MFs) …
  8. Gold ETFs.
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Which is the best company to buy shares in Kenya?

Best shares to buy in Kenya – companies to look out for

  • Limuru tea.
  • Jubilee holdings.
  • Centum investment.
  • Kakuzi.
  • ARM cement.
  • Crown paints.
  • Equity Bank.
  • KCB Bank.


Which is the cheapest bank in Kenya?

In the report, the cheapest bank in Kenya to secure a peronal loan stretching up to five years is Guardian bank, with its lending rate standing at (14.1%). Other banks with friendlier rates include: National Bank (14.7%), Family Bank (14.8%), Housing Finance (14.8%), DTB (15.2%), Imperial Bank (16%) and KCB (16.6%).

What is the safest bank to put your money in?

Here are the seven safest banks in America to deposit money:

  • Wells Fargo & CompanyWells Fargo & Company (NYSE:WFC) is the undisputed safest bank in America, now that JP Morgan Chase & Co. …
  • JP Morgan Chase & Co.


Where do millionaires keep their money?

Millionaires put their money in a variety of places, including their primary residence, mutual funds, stocks and retirement accounts.

Most financial experts end up suggesting you need a cash stash equal to six months of expenses: If you need $5,000 to survive every month, save $30,000. Personal finance guru Suze Orman advises an eight-month emergency fund because that’s about how long it takes the average person to find a job.

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