Equity Bank Kenya offers a suite of savings accounts designed to help customers meet financial goals while earning interest. Whether you’re saving for school fees, long-term projects, or introducing children to financial literacy, there’s an option tailored to your needs.
Below are the key savings products:
- Jijenge Account
- Junior Member Account
- School Fees Account
- Achievers Student Account
- Fixed/Call Deposit Account
- EazzySave Account
1. Jijenge Account
Ideal for individuals saving toward personal goals—whether for education, travel, or projects.
Key Features
- Starts with KSh 300 and requires a minimum monthly deposit of KSh 300.
- Funds remain locked for a minimum of 6 months, with no partial withdrawals allowed during this period.
- No monthly fees and free internal standing orders.
- Borrow up to 90% of your savings at discounted interest rates.
Account Opening Requirements
- Original valid ID or passport
- KRA PIN certificate
2. Junior Member Account
Designed for minors (under 18) to foster saving habits early.
Key Features
- Opened by a parent or guardian in the child’s name with the guardian as signatory.
- Withdrawals allowed once every three months.
- No opening balance or minimum operating balance.
- Free deposits, withdrawals, internal transfers, and standing orders.
- Interest paid quarterly on balances above KSh 10,000, and benefits like financial literacy events, e-birthday cards, and E‑Statements.
Requirements
- Guardian’s original ID and proof of guardianship
- Child’s birth certificate or birth notification
3. School Fees Account
Helps parents save specifically for school fees to ensure children have uninterrupted access to education.
Key Features
- Only KSh 100 needed to open and maintain the account.
- No monthly maintenance fees.
- Up to four free withdrawals per year.
- Three free banker’s cheques annually for fee payments.
Requirements
- Parent/guardian’s ID copy
4. Achievers Student Account
Created for tertiary students (ages 18–24) to manage funds while studying.
Key Features
- Zero opening or maintenance balance required.
- No ledger fees or withdrawal limits.
- Free internal transfers and incoming fund transfers.
- Discounted student payment card and free fund transfers within the Equity network.
- Converts automatically to a standard Equity account at age 25.
5. Fixed / Call Deposit Account
Offers a secure way to earn interest by locking funds for a specified term.
Key Features
- Minimum deposit of KSh 20,000.
- Lock-in period starts at one month.
- Negotiable interest rates based on term and amount.
- Early withdrawal allowed under specified terms.
- Borrow up to 80% of deposit value at preferential rates; fixed deposit can serve as collateral.
Requirements
- Valid ID and KRA PIN certificate
6. EazzySave Account
Ideal for flexible and comfortable saving with easy access and reliable interest.
Key Features
- No minimum operating balance: savings of KSh 20,000 or more earn competitive annual interest.
- No monthly fees and one free withdrawal per month.
- Free internal standing orders and full mobile banking access.
Account Eligibility
- Individuals or registered groups/businesses
- Individuals need valid ID & KRA PIN; groups or businesses provide registration documents and introduction letters from the DSDO .
Why Choose Equity Bank for Your Savings?
- No hidden fees: Many accounts require low or no opening and maintenance balances.
- Tailored savings options: Multiple account types for individuals, children, and students.
- Flexible access: Benefits like loans secured against savings, discount cards, and mobile banking support growth and convenience.
- Education-focused features: Special accounts like School Fees and Junior Member foster financial literacy and secure education funding.
How to Open an Account
- Visit any Equity Bank branch near you.
- Present the relevant documentation (ID, KRA PIN, child’s birth certificate or business documents).
- Complete and submit the account opening form.
- Your account will be activated, and you’ll receive immediate access to deposits, transfers, and withdrawals.
Conclusion
Equity Bank Kenya provides a robust selection of savings accounts to support various financial objectivesfrom nurturing children’s savings, securing school fees, growing personal goals, to specialized fixed deposit investments. Each account is crafted to combine security, growth, and flexibility with minimal fees and accessible features.
READ MORE: Equity Bank: Guide to Nairobi Branch Network
