KCB Bank has increased its annual interest rates for its Savings Account at 7.5% from the current 6%. At the same time, KCB Simba, Goal & Cub Savings Accounts for both new and existing customers will attract an interest rate ranging from 5%-7% depending on the amount of money deposited, with effect from 1st July 2022.
The lender says this will attract and retain its customers currently enjoying the savings products the bank offers.
It said this is a departure from the previous set-up where all Savings Accounts apart from Goal Lock Savings attracted a uniform annual return of 5%.
KCB Bank Director of Retail Banking, Annastacia Kimtai, noted that with the new rates, customers now have an opportunity to enjoy competitive returns on their savings. Additionally, they can now select how much return they want based on their financial ability.
“We have listened to our customer’s feedback, and now we are out to give them value for their hard-earned money. During such challenging economic times, you require a financial partner who can walk with you throughout your financial empowerment journey. Our promise to our loyal customers is that we shall continue to extend all the necessary support in efforts to deepen our sense of purpose and responsibility to them,” Annastacia said.
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