Consolidated Bank Kenya List of Accounts, Account Opening Requirements and charges

37

If you want to open an account at Consolidated bank, visit any of their branches, present your National ID, Passport size photo and KRA Pin. You will be provided with a form to fill and be able to open new account.

Consolidated Bank Kenya List of accounts, requirements and charges

Current Accounts

Pay-as-you-go Current Account

This account is targeted for businesses and is designed to give you quick and easy access to your funds and also enable you to make and receive payments conveniently.

Features

  • The Customer is only charged when they transact on the account
  • Charge of Kshs. 30 per debit entry with a minimum monthly fee of Kshs. 360 per month
  • No monthly fees if the customer maintains a monthly average balance of Kshs. 300,000
  • Free monthly statements provided
  • No cash handling fee for withdrawals below Kshs. 750,000
  • Unrestricted cash and cheque deposits and withdrawals
  • Cheque books available on request
  • Access to Internet and Mobile banking services
  • Kshs. 500 for Mastercard Debit card
  • Opening balance of Kshs. 2,500

Ace Salary Account

This account is targeted for salaried employees.

Features

  • Free cash deposits
  • Free cheque deposits
  • Cheque book available on request
  • Free internal standing orders
  • Kshs. 500 for Mastercard Debit card
  • Free internal funds account transfers
  • Access to Internet and Mobile banking services
  • Charge of Kshs. 30 per debit entry
  • Monthly service fee of Kshs. 475

Vuna Chama Current Account

This product is tailored to suit the needs of investment Groups/ ‘Chamas’.

Features

  • Allows both incorporated groups and informal groups
  • Minimum opening and operating balance from as low as Kshs. 5,000
  • Access to Internet and Mobile banking services
  • Cheque book available on request
  • Member’s contributions can be sent via M-Pesa to the account

Foreign Currency Current Account

This account is available for both individuals and business Customers who want to transact in foreign currency denominations. It is available in USD, EUR and GBP.

Features

  • Free monthly statements provided
  • Unrestricted cash and cheque deposits and withdrawals
  • Cheque books available on request
  • Access to Internet banking services
  • No ledger fees
  • Opening balance of an equivalent of Kshs. 2,000

Account 99 (STUDENTS ACCOUNT)

This is a very affordable account designed for students aged between 18-26 years allowing them to access their money with ease.

Features

  • Opening balance of only Kshs. 99
  • No ledger/monthly fees
  • Kshs. 500 for Mastercard Debit card
  • Free banker’s cheque for school fees
  • Access to Internet and Mobile banking services
  • Unrestricted cash deposits and withdrawals
  • Free annual bank statement

Transactional Accounts

E Cash Account

This is an ideal account for individuals who are looking for a convenient means of depositing and withdrawing their cash without incurring any monthly fees.

Features & Benefits:

  • No monthly fees/ Ledger fees
  • Low opening and operating balance of Kshs. 500
  • Unrestricted cash deposits and withdrawals
  • Access to Internet and Mobile banking services

Solid Plus Account

Features & Benefits:

  • Minimum opening balance of Kshs. 2,000
  • Unlimited withdrawals and deposits
  • Monthly charge of Kshs. 105.
  • No monthly charge if Kshs. 20,000 is maintained in the account
  • Free bank statements provided semi-annually
  • Access to Internet and Mobile banking services

Schools Collection Account

Both Public and Private education institutions in all categories i.e. primary, secondary, tertiary colleges and universities.

Features & Benefits:

  • Opening balance of Kshs. 2,000
  • No Ledger fees and Transaction charges
  • Interest paid on balances above Kshs. 500,000
  • Mobile phone solutions for school fees payment
  • Free Internet Banking – Viewing only
  • Salary processing fees for the employees from Kshs. 100 per staff

Savings Accounts

Dream Saver Account

This is a savings account that offers the saver an opportunity to build his/her savings to the desired level.

Features & Benefits:

  • Minimum opening balance of Kshs. 2,000
  • Interest accrued monthly and paid yearly
  • 1 free withdrawal per month
  • Free half yearly statements

Junior Saver Account

This is an attractive children’s savings account that offers various rewards to both the child and the parent/guardian.

Features & Benefits:

  • Minimum opening balance of Kshs. 1,000
  • No charges levied on the account
  • Free banker’s cheque for paying school fees every term
  • Interest earning account
  • 4 free withdrawals per year, once per quarter
  • Free home bank on account opening
  • Birthday card every year for the child

Diamond Saver Account

This account is the bank’s savings account for the premium savers, offering a host of benefits.

Features & Benefits:

  • Minimum opening balance of Kshs. 100,000
  • Free Personal Accident Insurance cover up to Kshs. 2,000,000
  • Interest accrued monthly and paid yearly
  • Interest paid on the lowest balance of the month
  • 1 free withdrawal per quarter

Vuna Chama Savings Account

This product is tailored to suit the needs of investment Groups/ ‘Chamas’. It targets both incorporated groups and informal groups.

Features & Benefits:

  • Tiered interest rates earned on the account
  • Bank statements provide monthly
  • Free financial advice
  • 1 free withdrawal per quarter
  • Minimum opening and operating balance from as low as Kshs. 2,000
  • Member’s contributions can be sent via M-Pesa to the account

Foreign Currency Savings Account

This account is available to Customers who want to transact in foreign currency denominations. It is available in USD, EUR and GBP.

Features & Benefits:

  • Free monthly statements provided
  • Unrestricted cash and cheque deposits
  • 1 free withdrawal per quarter
  • No ledger fees
  • Opening balance of an equivalent of Kshs. 2,000

Fixed Deposits

FIXED DEPOSITS

This is a high interest bearing account in which the deposit is held for a specific period of time at a fixed rate of interest. It is available to both individuals and business Customers.

Features & Benefits:

  • Funds fixed in account for term periods of 1 month, 2, 3, 6 or 12 months or on Call
  • Attractive interest rates (Interest calculated monthly and paid only on matured deposits)
  • Confirmation of deposit receipts given on placements and on maturity of deposit
  • Mandatory written instructions to withdraw or increase deposit
  • Account holder may secure loans and overdrafts using the deposit

Business Banking

Current Account

Our current account is a non-interest bearing account (unless on special considerations) operated with a cheque book. It is designed to give you quick and easy access to your funds and also enable you to make and receive payments conveniently.

Features

  • Unrestricted cash and cheque deposits and withdrawals
  • Appointment of agents by account holders
  • Facilitates joint operation through joint accounts
  • Free ATM card
  • Cheque books provided
  • Low opening balance of Kshs. 2,500
  • Free monthly statement provided

Requirements

  • Proper documentary identification and one (1) colour passport size photograph of each signatory.
  • One referee with current account/ utility bills in the names of the directors/ statement for other bank account.
  • Business Certificate of Registration.
  • Minutes of meeting to open bank account signed by Chairman and Secretary for Institutional, group accounts and limited companies
  • Certificate of Incorporation, Memorandum and Articles of Association for Limited Companies
  • Partnership deed for Partnerships

Group Account

This product is tailored to suit the needs of investment groups. It targets both incorporated groups and non- incorporated groups.

Features

  • Low minimum opening/ operating balance from as low as Kshs. 2,000
  • Attractive interest rates earned on the account
  • Cheque book may be provided (depending on account)
  • Access to internet and mobile banking services
  • Bank statements provide monthly
  • Free financial advice
  • Automatic member of the bank’s business club
  • Access to investment loans for shares, land, property
  • Affordable loan interest as low as 1.5% per month

Requirements: (Non- Incorporated Groups)

  • Registration Certificate from the Ministry of Culture & Social Services
  • Constitution of group
  • Minutes of the meeting appointing the group’s bankers
  • Identification card and one passport sized photograph for all officials.
  • List of all group members, their contacts (including physical address) and their business activity

Requirements: (Incorporated Groups)

  • Certificate of incorporation
  • Memorandum & Articles of Association
  • Company’s PIN certificates
  • Company’s search listing directors OR annual returns
  • Director’s resolution to appoint bankers and the relevant signing mandates
  • Identification card and one passport sized photograph for all the officials.

Consolidated Bank Paybill Number and how to deposit money from Mpesa to Consolidated Bank via Mpesa

Consolidated Bank Paybill Number is 508400. This is the number to use when transferring money from your Mpesa to the bank’s account.

To transfer funds from Mpesa to Account, please follow the instructions below:

  • Go to Mpesa
  • Select paybill
  • Enter Business Number (508400)
  • Enter the Consolidated Bank account number
  • Enter amount
  • Complete by entering MPESA PIN
  • You will receive an SMS confirming the transaction

Requirements

  • To register for m- banking, dial *262#

Consoidated Bank Kenya Customer Care Contacts

Consolidated Bank House
23 Koinange Street
P. O. Box 51133 – 00200, Nairobi
Cell: 0703 016 000/100
Email:tellus@consolidated-bank.com
Head Office Opening & Closing Time
Monday to Friday : 8.30am to 4.00pm
Saturday : 8:30am to 1:00pm

LEAVE A REPLY

Please enter your comment!
Please enter your name here