Sidian Bank List of Accounts, how to register an account and charges

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Below is a list of accounts to open at Sidian Bank, how to register your account ad charges for each account.

List of Accounts for Individuals

Nawiri Account

The Nawiri Account is a pay as you go account best suited for individuals and sole proprietors who are trading either as themselves or using a business name.

Target Market

  • Individuals, Sole Proprietors, Joint Account Holders

Features

  • One free monthly e-statement
  • Available in KES, USD, GBP and EURO
  • Free inward RTGS

Terms

  • Nil opening balance
  • Nil minimum balance
  • Nil ledger fees
  • Free deposits

Fees & Charges

  • Over the counter (OTC) withdrawal fee of KES.100.00
  • Inward EFT KES.100.00
  • Outward cheque deposits at KES. 25.00 per cheque

Banking Channels

  • Withdrawal at all Sidian Bank branches
  • SidianVIBE (Mobile Banking)
  • Online Banking
  • Direct deposit to account via PayBill number 111999
  • Aggregated PayBill and Till Number
  • Sidian Visa Debit/Credit Card

Premium Savings Account

Set yourself a target and achieve it with the Premium Savings Account.

Target Market

  • Individuals
  • Joint Account Holders

Key Features & Benefits

  • One free monthly e-statement
  • Free inward RTGS
  • Competitive interest rates
  • No ledger fees
  • Available in KES, USD, GBP and EURO

Terms

  • Opening balance KES. 10,000.00, USD. 100.00 (FX equivalent of USD. 100.00)
  • Minimum balance of KES. 10,000.00
  • One over the counter withdrawal per quarter
  • Not eligible for: cheque book, Sidian Visa Debit/Credit Card, SidianVIBE (Mobile Banking)

Fees & Charges

  • One over the counter withdrawal per quarter charged at current tariff (KES.100.00)
  • Additional withdrawals will incur a charge of KES.200.00 per withdrawal
  • Inward EFT KES.100.00

Banking Channels

  • Direct deposit to account via PayBill number 111999

Msingi Savings Account

Save for your child’s future with the Msingi Savings Account.

Target Market

  • Children (Account Operated By Parent)

Key Features & Benefits

  • 1 free bankers’ cheque per quarter
  • One free monthly e-statement
  • Free inward RTGS
  • Competitive Interest Rates
  • No ledger fee

Terms

  • Opening balance KES. 5,000.00, USD. 100.00 (FX Equivalent of USD.100.00)
  • Minimum Balance KES. 5,000.00

Fees & Charges

  • Inward EFT KES. 100.00

Banking Channels

  • Direct deposit to account via PayBill number 111999

Mshahara Account

A transactional account designed for salaried individuals with a flexible pay as you go structure.

Target Market

  • Individuals
  • Joint Account Holders

Key Features & Benefits

  • One free monthly e-statement
  • Available in KES, USD, GBP and EURO
  • Free inward RTGS
  • Free deposits

Terms

  • Nil opening balance
  • Nil minimum balance
  • Nil ledger fees

Fees & Charges

  • Salary processing fee KES.100.00
  • Over the counter (OTC) withdrawal fee KES. 100.00
  • Inward EFT KES.100.00

Banking Channels

  • Withdrawal at all Sidian Bank branches
  • SidianVIBE (Mobile Banking)
  • Online Banking
  • Direct deposit to account via Pay Bill number 111999
  • ATMs
  • Cheque book
  • Sidian Visa Debit/Credit Card

Flexxy Account

Bundled account best suited for individuals and/or salaried individuals with frequent transactions, catered for by a one-off monthly fee.

Target Market

  • Individuals

Key Features & Benefits

  • One free monthly e-statement
  • Dedicated relationship manager
  • Available in KES, USD, GBP and EURO
  • Free ATM withdrawals (at Sidian Bank ATMs)
  • Free inward RTGS/EFT

Terms

  • Opening balance KES. 10,000.00, USD. 200.00 (FX equivalent of USD. 200.00)

Fees & Charges

  • Fixed monthly charge of KES. 750.00
  • Free deposits

Banking Channels

  • Withdrawal at all Sidian Bank branches
  • SidianVIBE (Mobile Banking)
  • Online Banking
  • Direct deposit to account via PayBill number 111999
  • Sidian Visa Debit/Credit Card

Charges 

  • M-PESA Retail – As per the M-PESA tariff guide 
  • M-PESA Super Agency – KES. 50.00 Amounts greater than KES. 100,000.00 – 0.1% of the value transacted 
  • Country tariffs apply 

List of Accounts for business

Business Account

Best suited for limited companies, SMEs, corporates and sole proprietors.

Target Market: Partnerships, Sole proprietors and Corporate entities, SMEs

Key Features & Benefits

  • One free monthly e-statement
  • Free access to online banking platform
  • Salary processing platform (charges negotiable)
  • Dedicated Relationship Manager
  • This product is available in KES, USD, GBP and EURO

Terms

  • No minimum balance
  • No limit to number of withdrawals and deposits per day
  • Free inward RTGS

Banking Channels

  • Online banking
  • Aggregated PayBill and Till Number
  • Withdrawal at all Sidian Bank branches
  • Direct deposit to account via Pay Bill number 111999
  • Sidian Visa Debit/Credit Card (Depending on Account Mandate)

Fees & Charges

  • Opening balance of KES. 2,000.00, USD. 200.00 (FX equivalent of USD. 200.00)
  • Ledger fee of KES. 300.00 (USD. 5.00) for the first 15 transactions and KES. 20.00 for each extra transaction.

Ungana Account

Ideal for investment groups, chamas or savings group with a common agenda to accumulate savings for investments.

Target Market: Investment Groups, Chamas or Savings Groups.

Key Features & Benefits

  • One free monthly e-statement
  • Group training (Investment related training offered by the bank)
  • Available in KES, USD, GBP and EURO
  • Free inward RTGS
  • Cheque book
  • Free deposits

Terms

  • Minimum balance of KES. 2,000.00 (FX equivalent USD. 200.00)
  • Opening balance of KES. 2,000.00 (FX equivalent USD. 200.00)
  • No Ledger Fees

Banking Channels

  • Withdrawal at all Sidian Bank branches
  • Online Banking
  • Direct deposit to account via Pay Bill number 111999

Signature Account

An interest earning current account best suited for businesses.

Target Market: Institutions, Sole proprietors and Corporate entities, SMEs

Key Features & Benefits

  • Premium financing
  • Competitive interest rates
  • Free deposits
  • Unlimited Withdrawals
  • No bank charges if the account has average account balance above KES. 500,000.00

Terms

  • No limit to number of withdrawals and deposits per day
  • Free inward RTGS

Banking Channels

  • Online banking
  • Aggregated PayBill and Till Number
  • Withdrawal at all Sidian Bank branches
  • Direct deposit to account via Pay Bill number 111999
  • Sidian Visa Debit/Credit Card (Depending on Account Mandate)

Project Account

A current account for project management committees, Government Entities, Institutions and NGOs.

Target Market: NGOs, Government Institutions and any other institution.

Key Features & Benefits

  • One free monthly e-statement
  • Free access to online banking platform
  • Salary processing platform (charges negotiable)
  • Dedicated relationship manager
  • Available in KES, USD, GBP and EURO
  • Free inward RTGS
  • Inward EFT at KES.100.00

Fees & Charges

  • Over the counter (OTC) withdrawal fee of KES. 100.00

Terms

  • Nil opening balance
  • Nil ledger fees
  • No minimum balance
  • No limit to number of withdrawals and deposits per day
  • No cash handling for deposits

Banking Channels

  • Online banking
  • Aggregated PayBill and Till Number
  • Withdrawal at all Sidian Bank branches
  • Direct deposit to account via Pay Bill number 111999
  • Cheque book

SME Banking

Business Account

Best suited for limited companies, SMEs, corporates and sole proprietors.

Target Market: Partnerships, Sole proprietors and Corporate entities, SMEs

Key Features & Benefits

  • One free monthly e-statement
  • Free access to online banking platform
  • Salary processing platform (charges negotiable)
  • Dedicated Relationship Manager
  • This product is available in KES, USD, GBP and EURO

Terms

  • No minimum balance
  • No limit to number of withdrawals and deposits per day
  • Free inward RTGS

Banking Channels

  • Online banking
  • Aggregated PayBill and Till Number
  • Withdrawal at all Sidian Bank branches
  • Direct deposit to account via Pay Bill number 111999
  • Sidian Visa Debit/Credit Card (Depending on Account Mandate)

Fees & Charges

  • Opening balance of KES. 2,000.00, USD. 200.00 (FX equivalent of USD. 200.00)
  • Ledger fee of KES. 300.00 (USD. 5.00) for the first 15 transactions and KES. 20.00 for each extra transaction.

Ungana Account

Ideal for investment groups, chamas or savings group with a common agenda to accumulate savings for investments.

Target Market: Investment Groups, Chamas or Savings Groups.

Key Features & Benefits

  • One free monthly e-statement
  • Group training (Investment related training offered by the bank)
  • Available in KES, USD, GBP and EURO
  • Free inward RTGS
  • Cheque book
  • Free deposits

Terms

  • Minimum balance of KES. 2,000.00 (FX equivalent USD. 200.00)
  • Opening balance of KES. 2,000.00 (FX equivalent USD. 200.00)
  • No Ledger Fees

Banking Channels

  • Withdrawal at all Sidian Bank branches
  • Online Banking
  • Direct deposit to account via Pay Bill number 111999

Signature Account

An interest earning current account best suited for businesses.

Target Market: Institutions, Sole proprietors and Corporate entities, SMEs

Key Features & Benefits

  • Premium financing
  • Competitive interest rates
  • Free deposits
  • Unlimited Withdrawals
  • No bank charges if the account has average account balance above KES. 500,000.00

Terms

  • No limit to number of withdrawals and deposits per day
  • Free inward RTGS

Banking Channels

  • Online banking
  • Aggregated PayBill and Till Number
  • Withdrawal at all Sidian Bank branches
  • Direct deposit to account via Pay Bill number 111999
  • Sidian Visa Debit/Credit Card (Depending on Account Mandate)

Project Account

A current account for project management committees, Government Entities, Institutions and NGOs.

Target Market: NGOs, Government Institutions and any other institution.

Key Features & Benefits

  • One free monthly e-statement
  • Free access to online banking platform
  • Salary processing platform (charges negotiable)
  • Dedicated relationship manager
  • Available in KES, USD, GBP and EURO
  • Free inward RTGS
  • Inward EFT at KES.100.00

Fees & Charges

  • Over the counter (OTC) withdrawal fee of KES. 100.00

Terms

  • Nil opening balance
  • Nil ledger fees
  • No minimum balance
  • No limit to number of withdrawals and deposits per day
  • No cash handling for deposits

Banking Channels

  • Online banking
  • Aggregated PayBill and Till Number
  • Withdrawal at all Sidian Bank branches
  • Direct deposit to account via Pay Bill number 111999
  • Cheque book

What are the requirements of opening a personal account?

  • Original Identity card or Passport.
  • KRA Pin
  • One Passport size photo

What are the requirements of opening a business account?

a) Limited Liability Company (Locally Incorporated & Resident in Kenya) – Incorporated under old companies act (Cap 486)

  • Certificate of Incorporation
  • Memorandum of Association
  • Company PIN Certificate/ Tax Exemption Certificate as issued by the Kenya Revenue Authority
  • List of Directors and Shareholders
  • Annual Returns
  • Board of Directors Resolution to open an account signatories & signing mandate
  • Company & Directors KRA PIN
  • Copy of National ID /Passport of Directors & Signatories
  • Passport size colored photos for Director and account Signatories
  • Proof of address
  • Foreign nationals (resident in Kenya) – PIN Certificate/Entry Permit
  • Foreign national (not resident in Kenya) – Declaration of non-residency status
  • For US citizens/residents – completed W-9 tax form

b) Companies incorporated under the Companies Act, 2015

  • Certificate of Incorporation /E-citizen certificate of Incorporation
  • Form CR1
  • Relevant CR Form i.e. Model Memorandum of Association
  • All other documentation included 1 above

c) Sole-Proprietorship

  • Business Name Permit
  • Certificate of Registration /E-Citizen certificate of registration
  • KRA PIN Certificate/Certificate of Exemption
  • National ID/Passport
  • One recent passport size photo
  • Proof of address
  • Initial Deposit
  • Foreign nationals (resident in Kenya) – PIN Certificate/Entry Permit
  • Foreign national (not resident in Kenya) – Declaration of non-residency status
  • For US citizens/residents – completed W-9 tax form

d) Partnerships

  • Certificate of Registration /E-Citizen certificate of registration
  • Partnership deed/Letter
  • KRA PIN Certificate/Certificate of Exemption
  • National ID/Passport
  • One recent passport size photo
  • Mandate to open and operate account
  • Proof of address
  • Initial Deposit
  • Foreign nationals (resident in Kenya) – PIN Certificate/Entry Permit
  • Foreign national (not resident in Kenya) – Declaration of non-residency status
  • For US citizens/residents – completed W-9 tax form

How to borrow a Sidian Bank Mobile loan (QLoan) on USSD?

  • Dial *527#
  • Select QLoan
  • Select Request loan
  • Enter the Amount you wish to borrow (must be within your loan limit)
  • Select Source Account Number
  • Enter your Sidian Bank mobile banking PIN
  • Confirm the transaction and submit
  • The loan will be deposited into your Sidian Bank Account

How to transfer money from M-PESA to a Sidian Bank account

  • Go to your M-PESA menu
  • Select Lipa na M-PESA
  • Enter Paybill number 111999
  • Enter the Sidian Bank account number you are transferring money to, enter the amount, and your M-PESA PIN and confirm to send money.

How do I load my Sidian Bank credit card?

  • Go to M-PESA menu on your phone.
  • Go to Lipa na M-PESA, Paybill option.
  • Enter the banks business number (990832)
  • Enter account number which is your card number.
  • Enter amount.
  • Enter M-PESA pin.

What is the maximum amount of money I can withdraw daily from the ATM?

  • The maximum amount one can withdraw daily is Ksh 40,000 but this limit can be enhanced.

Is the Bank open on weekends?

  • Yes, all branches are open on Saturday from 8.30am to 12:00pm.
  • Majority of our branches open at 8:30am and close at 4:00pm on weekdays. However, there are branches that open for extended hours.

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