14 Best Minor Bank Accounts in Kenya

Child Bank Acc Kenya

Which is the best bank for my child? Where can we open savings accounts for our kids? How can I get a home bank savings kit for my children? How much money should I have to open a savings bank account for my minors?

At Loans Kenya,we understand that it can always be challenging to easily identify a suitable child savings account from the vast of commercial banks already legally licensed by the Central Bank of Kenya (CBK) to offer banking services in the country.For that reason we came up with a good list of the best savings accounts for currently.

Why Open Savings Accounts For Kids

When you open a savngs bank account for children,the gain the following benefits happen;

You introduce your kids to a savings culture
You teach the children financial discipline
You easily plan for the kids' future
You keep the children's money safe
You create financial independency for your kids

Documents Required To Open Bank Accounts For Minors

The documents needed to open an account for your children from any commercial bank in Kenya are;

Your child's original birth certificate or adoption papers
Parent/guardian national ID or passport

Now let's get back to our list of top child bank accounts in Kenya.Though there are other features used to rank these accounts in the banking market,in our case we are going to consider the minimum account opening balance. The list starts with the most expensive to the cheapest child bank account to open in Kenya.

14.Tausi Junior Account - Kenya Women Microfinance Bank

There's a free education insurance cover per account
You get free quarterly cash withdrawals
You get a free home bank kit
Have access to a free banker's cheque for school fees
Access to free standing orders

13.Pebble Account - Chase Bank of Kenya

Minimum account opening balance is ksh2000
Savings above ksh2000 earns interest
Access to quarterly bank statements
Make unlimited deposits
One free banker's cheque per quarter
Zero ledger fees
Free money box
Access to Pebbles partner outlets for great discounts

12.Junior Eagle Account- Barclays Bank of Kenya

Minimum opening and operating balance ksh2000
No maintenance fees
Four free withdrawals per year
Interest earned on savings above ksh2000

11.Jumbo Junior Account- Cooperative Bank of Kenya

Minimum opening balance is ksh1050
Access to major discounts on stationery, meals and medical services
Discounted bank cheques for school fees payment

9.Smart Kids Save Account- GTbank of Kenya

Account opening balance ksh1000
No ledger fees
Minimum monthly balance ksh1000
Savings earn interest
Free annual statements
One free withdrawal per month
Enjoy unlimited deposits

8.Junior Saver Account- Consolidated Bank of Kenya

Account opening balance ksh1000
No charges levied on the account
Free banker's cheque for paying school fees
Savings earn interest
Four withdrawals per year
Free home bank kit

7.Prime Junior Account- Prime Bank of Kenya

Account opening balance ksh1000
Minimum operating balance ksh1000
Numerous bonuses at the end of the year

6.Young Savers Account - I&M Bank

Account opening balance ksh1000
Maximum of six withdrawals per year
Free transactions
No account maintenance fees
Access to discounts at selected shops and outlets
Savings earn interest
End year bonuses

5.KCB Cub Account- KCB

Opening balance ksh1000
One free standing order per month
Free saving kit
Savings earn 7.35% interest per year
Free education insurance cover

4. 123 Cool Kids Account- Bank of Africa(BOA)

Opening balance ksh500
Minimum account operating balance ksh500
One free banker's cheque per term
Home bank savings kit
Access to school fees loan
No ledger fees
Two free statements of account per year

3.Smata Account- Post Bank of Kenya

Account opening balance ksh200
Account operating balance ksh200
Minimum deposit ksh50
You get a free debit card

2.Equity Junior Account- Equity Bank

Account opening balance ksh200
Minimum operating balance ksh200
Free internal standing orders
Two free withdrawals per year
Zero maintenance fees
Free home bank saving kit
Access account over ATM,Bank,Mobile and agents.

1.Mdosi Junior Savings Account - Family Bank of Kenya

Account opening balance ksh200
Nil ledger fees charged on the account
Free home bank savings kit
Free banker's cheque for paying school fees
Free internal standing orders
Three free withdrawals per year
Access to loans of up to 90% the savings
Minimum interest earning balance is ksh5000

AdSense