How does KCB savings account work?

How does KCB savings account work?

You earn attractive Interest at a rate of 6.3% p.a. on your savings that accumulates on a daily basis. You can deposit money into the fixed savings account from M-PESA or KCB M-PESA. Upon withdrawal of money from a fixed savings account, the money is immediately deposited to your KCB M-PESA account.

How do I open a KCB savings account?

Set up your Fixed savings account in these easy steps;

1. Access the M-PESA menu.
2. Select “Loans and Savings”
3. Select KCB M-PESA.
4. Select Fixed Savings Account.
5. Select Fixed deposit.
6. Open Account.
7. Select the source of funds; M-PESA KCB M-PESA.
8. Enter amount (amount needs to be more than KES 500)

Which is the best bank in Kenya to save money?

Middle East bank

Bank	Account Name	Interest rate %
Mayfair Bank	Savings	3.5%
	Children Savings	3.5%
Middle East Bank Kenya	Savings	3%
	Mebinvest	2%

Which bank has the best savings account plan?

Here are the best online savings account interest rates

• Comenity Direct – APY: 0.55%, min.
• Vio Bank – APY: 0.51%, min.
• Ally Bank – APY: 0.50%, min.
• Citibank – APY: 0.50%, min.
• Marcus by Goldman Sachs – APY: 0.50%, min.
• Synchrony Bank – APY: 0.50%, min.
• Popular Direct – APY: 0.45%, min.

How do I withdraw money from my KCB account to M-Pesa?

How to Withdraw Money from KCB to Mpesa

1. Dial *522#
2. Enter KCB Mobile Banking PIN.
3. Select ‘Send to Mpesa’
4. Select ‘Own Number’ or ‘Another Number’
5. Select ‘Savings’
6. Enter the Number you wish to transfer the Money to.
7. Enter the Amount you wish to send to Mpesa.
8. Confirm transaction.

How much does it cost to transfer money from M-Pesa to KCB account?

KCB has no charges for all Mpesa to KCB deposit transactions. However, Safaricom mpesa charges for sending money will apply. To deposit money to KCB via Mpesa for free (without paying the Mpesa transaction charges), open a KCB M-Benki account (which is actually opening a KCB account through M-Pesa).

How much is needed to open a KCB bank account?

Account Rates & Fees* Opening balance – Kes 200.

How do I deposit money from mpesa to my KCB account?

How to transfer money from M-PESA to a KCB account

1. Go to your M-PESA menu,
2. Choose Lipa na M-PESA,
3. Enter the PayBill number 522522,
4. Enter the KCB account number you are transferring money to and the amount.
5. To send money, enter your M-Pesa PIN and confirm.

Which is the safest bank in Kenya?

KCB has been ranked the Safest Bank in Africa by Global Finance in the World’s Safest Banks, 2021. The Group has also been ranked as the most valuable financial Kenyan brand for the year 2021 by Brand Finance.

Which savings account will earn you least money?

Traditional savings accounts will probably earn you the least money. Or a money market account or CD you open at a brick-and-mortar bank.