Kingdom Bank Kenya Loans Offered, How to Open an Account And Branches In Kenya 2024
This article will take you through everything that you need to about kingdom bank Kenya. Looking forward to opening an account with kingdom bank Kenya. Here is what you need to Know
Welcome to our in-depth article of Kingdom Bank Kenya, a notable player in Kenya's dynamic banking sector. Kingdom Bank, evolving from its origins as Jamii Bora, has grown under the stewardship of Cooperative Bank of Kenya into a financial institution that resonates with the needs and aspirations of Kenyans. In this article, we're delving into the diverse array of banking services offered by Kingdom Bank, including their innovative loan options, the streamlined process of opening an account, and the extensive network of branches across Kenya.
Whether you're a business owner seeking growth opportunities, an individual planning your financial future, or simply curious about the banking landscape in Kenya, this article is your comprehensive guide. We'll walk you through the various account types Kingdom Bank offers, each designed to cater to different needs and financial goals. From the convenience of their current and savings accounts to the tailored solutions of their junior and transaction accounts, Kingdom Bank Kenya demonstrates its commitment to serving a diverse clientele.
But that's not all. We'll also shed light on the bank's loan offerings. Whether it's personal finance, business needs, or microloans, Kingdom Bank has a range of options to propel your financial aspirations forward. And for those wondering about accessibility, we've got you covered with an overview of Kingdom Bank's branches, ensuring you're never too far from your banking needs.
Kingdom Bank Kenya - An Overview
Kingdom Bank Kenya, a rising name in Kenya's banking industry, represents a story of remarkable transformation and growth. Initially known as Jamii Bora, the bank underwent a significant metamorphosis when it was acquired by the Cooperative Bank of Kenya in August 2020. This strategic move was more than just a change of name; it marked the beginning of a new era for the bank, now operating under the banner of Kingdom Bank Kenya.
Banking Services: Catering to Every Kenyan's Needs
At Kingdom Bank, the commitment to serving the diverse needs of Kenyans is evident in their wide range of services. From providing access to automated teller machines (ATMs) to embracing the digital era with robust digital banking platforms, Kingdom Bank has ensured that its services are both accessible and convenient. This digital transformation aligns with the contemporary needs of Kenyan society, where banking is not just a necessity but a part of daily life.
Branching Out: A Network Spreading Across Kenya
Kingdom Bank’s expansion in Kenya is impressive, with over 17 branches strategically located throughout the country. This network is a testament to the bank’s commitment to being within reach of its customers, wherever they are in Kenya. The bank’s footprint, extending from urban centers to more remote areas, ensures that both individual and corporate clients can access banking services with ease. The presence of these branches, coupled with the availability of ATMs, reflects Kingdom Bank's dedication to providing banking services that are not just comprehensive but also conveniently accessible.
Types of Accounts and How to Open Them
Kingdom Bank Current Account: A Blend of Flexibility and Earnings
For businesses and individuals seeking a blend of flexibility and the potential to earn, the Kingdom Bank Current Account stands out. It’s an interest-earning account that caters to both personal and business banking needs. With a minimum opening balance of Ksh. 2,500 and no minimum operating balance, it's designed for ease of use. A nominal monthly maintenance fee of Ksh. 400 is applied, ensuring the account remains affordable. Features like convenient mobile banking, free e-statements, and the availability of a cheque book make it a go-to choice for many Kenyans.
Opening Your Kingdom Bank Current Account
The process of opening a Current Account is straightforward. Applicants are required to provide a Memorandum of Articles of Association, a Registration Certificate, and Director's Resolutions for firms. Additionally, a copy of the KRA PIN for both the Directors and the company is needed, streamlining the account opening process for businesses of all sizes.
Kingdom Bank Savings Account: Saving with Growth in Mind
A Kingdom Bank Savings Account is ideal for individuals and businesses aiming to set funds aside while accruing interest. The account requires a minimum opening and operating balance of just Ksh. 500, making it accessible to a wide range of savers. One of its appealing features is the absence of monthly maintenance fees, and an interest rate of 4% per annum for balances above Ksh. 5,000. This account allows for one withdrawal per calendar quarter, encouraging savers to maintain their balance and maximize their interest earnings.
How to Open a Savings Account
Opening a Kingdom Bank Savings Account involves providing a parent's or guardian's original ID Card or Passport, a copy of the child's birth certificate, and the parent's or guardian's KRA PIN. This ensures that even the younger generation can start their savings journey early, under the guidance of their parents or guardians.
Kingdom Bank Junior Savings Account: Nurturing Future Savers
The Kingdom Bank Junior Savings Account is specifically designed for the young savers under 18, fostering a culture of saving from an early age. This account has a friendly entry point with a minimum opening and operating balance of Ksh. 500. What makes it even more appealing for the younger generation is the provision of a free piggy bank upon account opening, discounted bank cheques for fee payments, and delightful birthday cards or gifts on the child's birthday anniversary. Moreover, the account offers an interest rate of 2% per annum for amounts exceeding Ksh. 5,000.
Opening a Junior Savings Account
The process to kickstart a child's savings journey is simple. It requires a parent's or guardian's original ID Card or Passport, a copy of the child's birth certificate, and a copy of the parent's or guardian's KRA PIN. This account not only provides a secure place to save but also instills financial discipline and awareness from a tender age.
Kingdom Bank Transaction Account: Daily Banking Simplified
The Kingdom Bank Transaction Account is tailored for individuals who need a flexible and accessible account for daily transactions. This account boasts a minimum operating balance of Ksh. 200, with no monthly ledger fees, making it extremely user-friendly. Account holders can access funds as needed and are eligible for business loans. The account features include a debit card for withdrawals and payments, mobile and internet banking for convenience, and an optional cheque book. This account is ideal for those who require frequent access to their funds without the burden of maintaining high balances.
How to Open a Transaction Account
Opening a Transaction Account is a breeze. All that’s required is a copy of the national ID card and the KRA PIN. This simplicity and the minimal requirements make the Transaction Account a practical choice for many Kenyans, especially those seeking uncomplicated daily banking solutions.
Kingdom Bank Kenya Loans
Kingdom Bank Kenya understands the diverse financial needs of its customers, offering a range of loan products tailored to both individuals and businesses. These loans are designed to support various financial objectives, from personal needs to business growth.
Salary Deduction Loan: Personal Financial Flexibility
The Salary Deduction Loan is a personal loan available to individuals with a steady monthly income from public or commercial sectors. This loan offers a borrowing range between Kes. 20,000 and Kes 4,000,000, with a repayment period of up to 96 months. This flexibility makes it a viable option for managing personal finances, such as educational expenses, home improvements, or unexpected costs.
Daraja Loans: Fueling Small Business Growth
Daraja Loans are specifically crafted for small businesses eyeing expansion. With an interest rate of 18%, these loans provide a financial boost to small enterprises. Businesses can borrow amounts ranging from Kes. 50,000 to Kes. 3,000,000, aiding in various aspects of business growth like capital investment, inventory expansion, or infrastructure development.
Microloans: A Ladder for Micro and Small Enterprises
Microloans are geared towards micro and small enterprises in recognized groups. These loans provide essential working capital, supporting businesses in their growth and operational needs. The borrowing range for these loans is from Kes 10,000 to Kes 1,000,000 over a 12-month period, making them an excellent resource for businesses in their developmental stages.
Branches and Accessibility
Kingdom Bank Kenya boasts an impressive network of branches, ensuring that their services are within easy reach for customers across the nation. From bustling urban centers to quieter towns, Kingdom Bank has established a presence that speaks volumes about its commitment to accessibility and customer service.
Key Branch Locations
| Branch | Address | Telephone 1 | Telephone 2 |
|---|---|---|---|
| Head Office | Argwings Kodhek Road, Kilimani. | 0709881870 | - |
| Koinange Branch | Winsor House, Ground Floor | 0709881320 | 0709881023 |
| Kayole Branch | Pinnacle Centre, Spine Road | 0709881660 | 0709881420 |
| Kawangware Branch | Mbugua Plaza, Naivasha Road | 0709881540 | - |
| Kirinyaga Road | Bits House, 1st floor, Rover Road | 0709881840 | 0709881360 |
| Kikuyu Branch | Red brick house, Opp PCEA Kikuyu Township | 0709881510 | - |
| Kiambu Branch | Githunguri Nyakinywa Women Group Building | 0709881630 | 0709881690 |
| Kitengela Branch | Newton House, Opp Naivas Supermarket | 0709881960 | - |
| Kisumu Agent | Mega Plaza, Ground Floor along Oginga Odinga Street | - | - |
| Kisii Branch | Mocha Place, Opposite Tuskys Ichiro | 0709882050 | - |
| Thika Branch | Zuhura House, Kenyatta Avenue Opp Tuskys Supermarket | 0709881570 | 0709881750 |
| Ongata Rongai | Brisma Towers, Ground Floor | 0709881600 | - |
| Utawala Branch | Mashariki Shopping Mall, Eastern bypass | 0709881900 | - |
| Wangi Branch | Wangige Shopping Centre, Walokana Petrol Station | 0709882020 | - |
| Mtwapa Branch | Malindi Highway, Mtwapa – Bridge, Mzambarauni | 0709881720 | 0709881548 |
| Mombasa Branch | Khamisi Building, Opp.Castle Hotel, Moi Avenue | 0709881586 | - |
| Nyeri Branch | Nyeri Town, Naivas Mall | 0709881990 | - |
| Nakuru Branch | Light House, Kenyatta Avenue, Next to Consolidated Bank | 0709881780 | - |
Top 10 Shares to Buy in Kenya: Expert Analysis and Market Insights
Each branch is equipped with dedicated staff ready to assist with banking needs, from account inquiries to loan applications. The contact information for each branch is readily available, making it easy for customers to connect with their nearest Kingdom Bank location.
Kingdom Bank Kenya Customer Care
- Kingdom Bank Towers, Argwings Kodhek Road, Kilimani.
- P. O. Box 22741- 00400 Nairobi, Kenya
- Landline: 020-221 0339
- Mobile: 0709 881 000, 0709 881 300
- Email: info@kingdombankltd.co.ke
Conclusion
As we wrap up our exploration of Kingdom Bank Kenya, it's clear that this institution is more than just a bank; it's a financial partner dedicated to empowering the dreams and ambitions of Kenyans. From the diverse account types tailored to meet different needs, to the flexible loan options designed for personal and business growth, Kingdom Bank stands as a pillar in Kenya's financial landscape. Add to this the widespread network of branches, and you have a bank that's both accessible and committed to providing quality service. Whether you're embarking on a financial journey, seeking growth opportunities, or in need of reliable banking services, Kingdom Bank Kenya emerges as a trustworthy and capable choice.
