If you live in USA,UK,Canada,Australia or any country outside Kenya,you need to own a bank account in Kenya. Below we provide a list of banks with the best Diaspora accounts.
Stanbic Bank
Their diaspora account earns interest of up to10.2%. you will require minimum opening balance of Ksh1,000.There is no minimum opening balance.
The documents required include:Copy of your Kenyan ID,Proof of Residence,one month bank statement or payslip and KRA Pin.
Since it offers interest of up to 10.2%, it means your money will generate passive income. If your account has Ksh10 million,you will earn up to Ksh 1 million each year.
Cooperative Bank
Cooperative Bank is also another stable bank which offers the best services for diaspora members. They also have various investment options.
There is fixed deposit account, business current account, Jumbo Junior and transactional account. Jumbo junior is for your kids, fixed deposit is for you to earn fixed income from your savings. Transactional account is for those who made regular transactions through the bank.
Fixed Deposit account opening balance is Ksh 50,000. The fixed period is 1 month,2 months,3 months,6 months and 12 months. They require your National ID,KRA Pin,1 passport size photo.
They also offer business current account with minimum opening balances being Ksh 10,000, USD $200, GBP £200 or EUR €200
You can open the account as a company or individual. Visit Cooperative Bank website to see all the requirements.
It’s also good to open account for your child, cooperative bank offers you this option.Opening balance is either Ksh5,000, USD $100, GBP £200, EUR €200, AUD 100, CAD 100. The money earns interest annually.
KCB Bank
KCB is also a stable bank, your money will be safe. You can open transactional account, savings account and Chama account. To open an account,you must be residing abroad,have a valid Kenyan passport or ID,KRA Pin and coloured passport sized photo.
Minimum balance is Ksh1,000. The money will earn interest of up to 8.5 % per year,
To open an account, visit KCB Bank.
Diamond Trust Bank
Another good bank that offers you opportunity to operate diaspora account. They have current account, savings account, salary account and fixed deposit account. Opening balance is as little as Ksh20,000.Minimum balance is Ksh20,000.
They require your National ID,one passport size photo,KRA pin .You should also be residing in USA if you are applying from the country.
They charge just Ksh30 per transaction.
Kingdom Bank
Kingdom Bank is among the best banks in Kenya to open diaspora account. They offer fixed deposit account, savings account and current account.Some of the documents required include National ID,duly completed account opening form,KRA pin and coloured passport size photo.
For fixed deposit account, minimum deposit amount is Ksh50,000.For current account, minimum opening balance is Ksh 5,000.For savings account, minimum opening balance is Ksh10,000 only.
To open an account, visit Kingdom Bank and fill the required form.
Family Bank
You can also open account with Family Bank. It offers savings account, investment account and current account.
Savings account needs minimum opening balance of Ksh 10,000 and Ksh500 operating balance. To open the account, you should fill a form provided by the bank,provide your passport size photo, copy of your Kenyan ID ,copy of bank statement and KRA Pin.
Current account needs opening balance of Ksh50,000and operating balance of Ksh 2,000.
For fixed deposit account, the minimum balance is Ksh30,000. The fixed periods are 1 month,3 months,6 months,9 months and 12 months.
Gulf African Bank
They have Diaspora Current Account which is strictly for diaspora people.Their minimum operating balance is ksh1,000.
You need a copy of your ID,KRA Pin, 1 coloured passport size photo and proof of address. There are also other requirements explained in their website.
HF Group
HF Group is a good bank where you can operate a diaspora account. Minimum balance is Ksh50,000 or equivalent in your currency. To open an account, you need KRA,Pin,coloured passport size photo, Kenyan ID or passport. Visit their website for more details.
Other banks include NCBA,Standard Chartered bank and ABSA Bank. Both has branches inside and outside Kenya.
