How to Open a Kingdom Bank Chama Account: A Guide for Group Banking Solutions

Kingdom Bank offers a specialized Chama Account, designed to facilitate convenient daily banking and transactions for groups and their members while earning interest. Here’s what the account offers and how to open it:

Key Features and Benefits

1. Interest Earnings: Earn 4% interest on balances starting from KSh 10,000. Interest is calculated daily on cleared balances and credited monthly.
2. Low Requirements:
   • Minimum opening balance: KSh 1,000.
   • No monthly ledger fees or minimum operating balance.
3. Transaction Benefits:
   • Free E-statements and the first withdrawal of the month is free.
   • Unlimited access to funds.
4. Convenient Banking Tools:
   • Internet banking and a cheque book.
   • M-collection and Lipa Na M-Pesa integration for seamless group transactions.
5. Dedicated Support: A dedicated Account Relationship Officer for personalized assistance.
6. Chama Investment Loan: Access loans up to KSh 40 million for land purchases, construction, equity release, or movable asset acquisition.
7. Working Capital Solutions: Tailored solutions to support group projects and member needs.

Account Opening Requirements

To open a Kingdom Bank Chama Account, groups must provide:

1. Memorandum of Articles of Association (for registered groups).
2. Registration Certificate of the group or company.
3. Director’s Resolutions authorizing the account opening.
4. Copies of KRA PINs for all directors and the company.

How to Apply

1. Visit the nearest Kingdom Bank branch or contact their customer service.
2. Present the required documents along with the minimum deposit of KSh 1,000.
3. Meet with a Relationship Officer to guide you through the process and discuss additional benefits or services suited for your Chama’s goals.

Why Choose Kingdom Bank for Your Chama?

Kingdom Bank’s Chama Account is tailored to help groups save, invest, and transact seamlessly while earning competitive returns and accessing unique financial solutions.

Whether it’s for land acquisition, member support, or managing daily expenses, this account ensures convenience and growth for your group.

Take advantage of the benefits today and empower your Chama to achieve its financial goals!