8 Best Equity Bank Savings Accounts

If you are looking to make a big purchase, have an investment in mind, or simply want to secure your future? Choose an Equity bank savings or investment account to suit exactly what you’re looking to achieve.

1. Eazzy Save

Eazzy Save comes in place when you have a goal to archive, with this saving plan you can set the desired amount of many regularly stands to save it to help you archive your goal.

Features

• No account opening and minimum operating balance.
• No Ledger fee.
• One free withdrawal in a month.
• Free internal standing orders
• Competitive Interest paid annually for savings above ksh 20,000

Requirements

• Any person above 18 years old
• Account to be opened by individual person / joint persons.
• Original and copy of National ID

2. Archives Student Equity bank savings Account

Achievers Students Account is an affordable and convenient account that offers financial literacy to students.

Ideal for: Students in all tertiary institutions of learning aged Tertiary institution students 18-24 yrs of age

Key Features of the Achievers Student Account

• Sign up all students on Eazzy 24/7
• No opening balance
• No account maintaining balance
• No ledger fees
• No cash deposit charges over the counter; agent rates apply
• No limitation on the withdrawal amount
• Free incoming funds transfer
• Free internal funds transfer within the same scheme code
• Free Eazzy 24/7 funds transfer within the same scheme code
• Account transformed into an Equity ordinary account when the holder turns 25 years. Account holder to be notified via email/SMS on changes to the account

Why You Should Open This Account

• Free internal/incoming funds transfer
• Mobile banking is Accessible from anywhere at the comfort of your phone
• E – birthday card
• E – transaction alert as proof of transaction
• 50% Discounted on the student payment card
• A student account website, blogs, and social networks sites

Charges

• Free incoming funds transfers
• Free internal funds transfer within the same scheme code
• Free Eazzy 24/7 funds transfer within the same scheme code
• Student Payment card at Ksh 300/=
• All other charges are the same as Equity Ordinary Account

The requirement to open Archives Student Account

• Original Student ID/ college letter of admission
• National ID and photocopy
• Passport for non-Kenyan students -student pass and alien id
• Visit your nearest Equity bank branch
• Present the required documents and fill out the application form
• The bank will then process your application and you can start banking with us.

Rights and Obligations

• T & Cs of products is available on the website and as part of the account opening form.
• Data privacy policy included in customer onboarding and account opening forms

Potential risks Involved

• To safeguard funds in your account, do not share your PINs with anyone. 
• When making payments using your card, be sure the card stays in your sight.  If you lose your card, communicate with the bank to block it.
• If you suspect any of your PINs is known by others, please change them immediately.

Transactions Process

• Cash transaction on account happens on a real-time basis.

Complainant handling process

• Lodge complain at any branches, via call center, [email protected]
• If we cannot resolve the complaint immediately, we will advise on the next cause of action and when to expect feedback from us.
• We will endeavor to resolve the complaint within 7 working days. However, should we require more time for it, we will keep you updated with progress every 7 days until the complaint is resolved.
• Should the resolution not meet your satisfaction, feel free to get back to us with your concerns and we will review the issue and resolution and revert back to you.

Download the Achievers Application form here

3. Jijenge Equity bank savings Account

As the name suggests, Jijenge Account helps you build your dreams by providing an avenue to save towards them.

Ideal for – Individuals (singly or jointly)

Key Features of the Jijenge Account

• Account opening balance of KSh 300.
• Minimum monthly contributions of KSh 300.
• Minimum lock operating period of 6 months with no partial withdrawal.
• No monthly charges.

Why You Should Open a Jijenge Account

• No ledger / monthly fees to run it.
• Free internal standing orders to your account
• You can conveniently access your account at any Equity branch countrywide.
• The account, allows you to determine your savings period from 6 months onwards.
• Enjoy access to instant loans of up to 90% of your savings at discounted rates.
• 24-hour support through 0763063000 and [email protected]

 Charges

• The over-the-counter cash withdrawal charge
• Agency withdrawal charge
• ATM withdrawal charge
• Free funds transfer to another Equity account (On Equitel)
• Free standing order set-up and transactions
• Third-party charges apply e.g. Swift, Pesalink, PesaPal
• Free periodic and email statements.  Additional printed are chargeable

The requirement to open Jijenge Account

• Individuals (singly or jointly) -Original Identification document & KRA Pin.

Sign up process

• Visit your nearest Equity bank branch
• Present the required documents and fill out the application form
• The bank will then process your application and you can start banking with us.
• For any further clarification, fill out the form below and we will get back to you.

Potential Risks in Jijenge Account

• To safeguard funds in your account, do not share your account details with anyone posing as Equity staff asking for your account information.
• If you suspect your account information has been compromised, please communicate with the bank immediately.

Transaction Process

• Cash transaction on account happens on a real-time basis.

Complaint Handling Process

• Lodge complaints at any of our branches, via call center, [email protected], they will record your feedback and issue you with a reference number.
• We will acknowledge your feedback within 48hours.
• If we cannot resolve the complaint immediately, we will advise on the next cause of action and when to expect feedback from us.
• We will endeavor to resolve the complaint within 7 working days. However, should we require more time for it, we will keep you updated with progress every 7 days until the complaint is resolved.
• Should the resolution not meet your satisfaction, feel free to get back to us with your concerns and we will review the issue and resolution and revert back to you.

Rights &Obligations

• T & Cs of products is available on the website and as part of the account opening form.
• Data privacy policy included in customer onboarding and account opening forms

Download Account Opening Form

5. Junior Member Equity bank savings Account

Kids live money too. A junior Member account is a saving plan whereby parents can open an account for their children to serve their financial independence journey.

Features

• Account operating and opening balance of Ksh 200.
• Free internal standing orders.
• Two free withdrawals in a year.
• On request, customers will be issued an identification card.

Requirements

• Parent’s original and copy of National ID.
• Original and photocopy of the child’s birth certificate.

6. Teen Member 

A savings culture inspired early sets a foundation for financial wisdom. Provide your teenager with a safe avenue to save their money by opening a Teen Member Account.

 3 Great Features of the Teen Member’s Account

1. The account will operate under the teen’s name.
2. The account will require an opening and operating balance of KSh 200.
3. You get two free withdrawals in a year. Any additional withdrawal is charged at KSh 200.

 5 Reasons Why You Should Open a Teen Member’s Account for Your Child

1. Opening an account is affordable. You need an opening balance of only KSh 200 and require no account maintenance fees.
2. Every account comes with a free financial educational booklet.
3. Your teen will receive free financial education every quarter.
4. The account is a channel for your teen to enhance financial literacy.
5. You will gain free entry to Teen Member open days.

Requirements to Open Teen Member Account

• You will need the original and copy of the parent’s/guardian’s national ID or passport.
• The original and copy of the teen’s birth certificate will also be needed.
• The account will be opened in the teen’s name.
• An account opening and operating balance of KSh 200 will be required.
• Visit your nearest Equity bank branch
• Present the required documents and fill out the application form
• The bank will then process your application and you can start banking with us.

7. School Fees Equity bank savings Account

With this saving plan, a parent is able to open a school fees account for his/her/their children.

Features

• Account operating and opening balance of Ksh 100.
• Four free withdrawals in a year.
• Free internal standing orders.
• 3 free bankers’ cheques in a year for school fees payment.

Requirements

• The account is opened under the parent’s name.
• Original and copy of National ID.
• One can open an account for one or many children.
• Individuals saving for school fees are also eligible to open this account.

 8. Call / Fixed Deposit Equity bank savings Account

Fixed & Call Deposit Account gives you the avenue to collate money for investment opportunities. It can be opened by individual savers, businesses, or organizations.

Ideal for all customers

3 Great Features of This Account

1. This account allows a minimum fixing amount KShs 20,000
2. The minimum period allowed is one (1) month
3. It provides the allowance to negotiate the interest rate

Why You Should Open This Account

• Premature withdrawal of deposits is allowed on this account
• Instant loans of up to 80% of your savings at discounted rates.
• This account offers the most competitive interest rates.
• Enjoy access to instant loans of up to 90% of your savings at 24-hour support through 0763063000 and/or [email protected]

Charges

• The call rate applies for Fixed deposits uplifted pre-maturely.
• Withholding Tax is applicable on interest paid.

Fixed Deposit Account Requirements

• Individuals (singly or jointly) -Original Identification document & KRA Pin.
• Registered entities on account opening requirements as per account opening requirements.
• Visit your nearest Equity bank branch
• Present the required documents and fill out the application form
• The bank will then process your application and you place your deposit.

Complainant Handling Process

• Lodge complaints at any branches, via call center, [email protected],
• If we cannot resolve the complaint immediately, we will advise on the next cause of action and when to expect feedback from us.
• We will endeavor to resolve the complaint within 7 working days. However, should we require more time for it, we will keep you updated with progress every 7 days until the complaint is resolved.
• Should the resolution not meet your satisfaction, feel free to get back to us with your concerns and we will review the issue and resolution and revert back to you.

Rights and Obligations

• T & Cs of products is available on the website and as part of the account opening form.
• Data privacy policy included in customer onboarding and account opening forms

Download the Fixed Deposit application form