NAIROBI, Kenya, Oct 18 – SBM Bank Kenya is targeting investors with its Platinum Saver Account, offering an attractive 11% annual return on savings exceeding Sh100,000.
For savers with investments below this threshold, the account offers a 4% interest rate.
The Kenya-shilling denominated facility also includes features such as limited withdrawals, making it an appealing option for high-yield savings.
“Designed to help you achieve your dreams—whether it’s funding education, expanding your business, or taking a holiday—the Platinum Saver accelerates financial growth with its impressive 11% annual interest rate on balances above Ksh 100,000,” the bank said in a statement.
The process of opening the account has been simplified for both existing and new ones.
“Opening your Platinum Saver Account is simple. Visit any SBM Bank Kenya branch with the required identification documents to start your savings journey. For existing customers, opening and managing a Platinum Saver account is even easier through the Mfukoni Mobile and Online Banking platforms.”
SBM Bank Kenya highlights that the Platinum Saver Account is ideal for groups and chamas, as it leverages compound interest to accelerate savings growth.
This allows these groups to invest in high-value opportunities such as real estate, bonds, or offshore investments, making it a strategic tool for collective financial growth.
“The Platinum Saver ensures disciplined saving by limiting withdrawals to once per quarter, allowing your interest to grow without interruption. With guaranteed returns unaffected by market fluctuations, you can rest assured that your wealth is steadily growing.”
