Akiba Account

A purely savings account and is open to both Female and Male applicants aged 18 years and above. Targets thrift savers and caters for both personal and joint applicants.

Akiba Account Benefits

  • Flexible and affordable account opening amount.
  • Attractive tax-free interest
  • Fast service; no queues
  • Financial discipline – no ATM card therefore offers an opportunity for upholding financial discipline to account holders
  • One free withdrawal per month
  • Access to funds in 97 Postbank branches countrywide
  • No ledger fee/monthly maintenance charges.
  • A competitive tax-free interest is payable on accumulated account balances of Kshs.10,000 or above annually

Account Value-Proposition

Akiba account value-proposition over other savings products:

  • Instils financial discipline among savers
  • Helps the public improve on their savings habits
  • Offers the public an opportunity to actualize on their personal goals/aspirations
  • Assists thrift savers to focus on wealth creation

Akiba Account Features

  • Exclusively operated over the counter; both deposits and withdrawals
  • Instead of an ATM Card, account holders are issued with an account details notification card
  • Access of funds from the account is made through application by filling Akiba SB21 withdrawal slip
  • Withdrawals are restricted; first withdrawal transaction in a particular month is free
  • Additional or subsequent withdrawal transactions within the month after the first one attract a fee of Kshs.500 per entry to be levied on the account balance
  • Payments through EFT/RTGS attract a processing fee
  • For Joint accounts, the operating instructions defined by signatories during account opening apply every time they request to make cash withdrawals. The joint account mandate options provided include:
    • Either to operate (2 persons)
    • Both to operate (2 persons)
    • Any two to operate (3 persons)
    • All to be present during withdrawals (either 2 or 3 persons)

Account Opening Requirements

  • 500 minimum opening balance
  • A minimum operating balance of Kshs.5,000
  • Original identification document; Valid National ID/Passport/Service Card/Alien Certificate
  • Copy of KRA PIN Certificate
  • 2 Passport size photographs (for each signatory if joint)

       Kindly note the following:

  1. Akiba account holders are NOT eligible for registration of Patacash
  2. KYC requirements for Akiba new accounts applicants of legally constituted bodies are similar to those of Bidii Business and Company accounts.