PRODUCTS

Vuna Chama Savings Account

This product is tailored to suit the needs of investment groups/ ‘chamas’.

Features

  • It targets both incorporated groups and non- incorporated groups.
  • Tiered interest rates earned on the account
  • Bank statements provided 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

Requirements: (Non- Incorporated Groups)

  • Registration Certificate from the Ministry of Culture & Social Services
  • Constitution of group / ‘Chama’
  • Minutes of the meeting appointing the group’s bankers
  • Identification card and one passport sized photograph for all officials(To be provided or taken at the branch)
  • List of all group members, their contacts (including physical address) and their business activity
  • KRA pin of all officials
  • Next of kin details

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(To be provided or taken at the branch) .

* Terms & Conditions apply

*CBKL General Terms and Conditions - Account Opening

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