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SBM Pebble Savings Account is an interest earning account, for anyone looking to open one individual account for  customers under the age of 18.  

• NIL monthly ledger fees. 
• Available in all major currencies: KES, USD, GBP, EUR. 
• 1 free bankers’ cheque per quarter. 
• The account will earn interest in these currencies:
• KES Account: Earn 8.5% interest p.a for amounts above KES 100,000 and 4% interest p.a for amounts below KES 100,000 
• USD Account: Earn 4% interest p.a for amounts above $1,000 and 3% interest p.a for amounts below $1,000
• GBP Account: Earn 3.5% interest p.a for amounts above £1,000 and 2.5% interest p.a for amounts below £1,000  
• EUR Account: Earn 3% interest p.a for amounts above €1,000 and 2% interest p.a. for amounts below €1,000  
• Interest credited monthly. 
• Withdrawals on account are restricted to one per quarter. 
• Monthly E-statements available. 
• Seamless “Branchless banking” experience though alternative channels: Mfukoni Mobile and Online banking. 
• All credits to the account are free: SBM account transfer, incoming Pesalink, Telegraphic Transfers (TTs/SWIFT),  Real Time Gross Settlement (RTGS), M-PESA deposits and EFTs.

To apply for SBM Pebble Savings Account, visit any SBM (K) Branch to fill in an account opening form with the  following:  

a) Copy of parents ID 

b) Copy of parents photo 

c) Copy of child Birth Certificate

The account opening balance is Kes. 1,000. We encourage customers to deposit KES. 100,000 to start earning 8.5%  p.a. on interest. You can also open your account in other currencies, depositing 1,000 in USD, GBP, or EUR to earn 4%p.a., 3.5% p.a., or 3% p.a. on the respective currencies. 

You will earn an interest of 4% p.a until such a time when your balances will get to Kes. 100,000 threshold or more.

Your account will earn an interest of 4% for all the days within the month of breach and will be tracked for a period of 90 days. The 8.5% interest rate will resume in the new month post the 90 day breach period provided account balance is maintained at Kes. 100,000 and above.

A USD account will earn 3% p.a on balances below $1,000, while a GBP account will earn an interest of 2.5% p.a. on balances below £1,000. A EUR account earns 2% p.a. on balances below €1,000

The options available to send money to your Pebble Savings Account are: 

a) SBM (K) Branches - visit a branch to physically deposit cash to the account over the counter (additional  documentation on source of funds may be required) 

SBM Bank Kenya Limited 

Riverside Mews, Riverside Drive 

b) M-Pesa Paybill: go to Lipa na M-Pesa > Select Paybill > Select Enter Business Number > Input 552800 > Select Account Number > Enter your 13 digit Account Number > Enter Amount > Enter M-Pesa PIN and  the transfer will complete to your account 

c) Real Time Time Gross Settlement (RTGS)/EFT - transfer money via RTGS/EFT as per account details below,  whether from an SBM (K) account or any other bank account: 

• BANK: SBM (K) Limited 
• Account Name: Your Account Name 
• Account Number: Your 13 digit account number 
• Bank Code: 060 
• Swift Code: SBMKKENA 

d) Telegraphic Transfer (TT) – to send funds in USD, GBP, EUR, ZAR, INR, MUR currencies, kindly access  TT Corresponding Bank Details depending on the international bank where funds will be transferred from.  Funds transferred in other currencies will be converted using the days’ exchange rates (The customer may  elect to negotiate for a rate directly with treasury) 

e) Pesalink - You can do instant transfer from other banks to SBM accounts

Withdrawals on the account are restricted to one every quarter. If the account goes below the threshhold of Kes. 100,000, you will earn an interest of 4% if the  number of quarterly withdrawals are more than 1. 

Similarly, USD, GBP and EUR accounts will earn 3% p.a on balances below $1,000, 2.5% p.a. on balances below £1,000 and 2% p.a. on balances below €1,000 respectively.

SBM Bank will provide you with free monthly e-statements to your email to be able to track account balances.  You can call your account manager at the branch or SBM contact center to request for account balance for ad hoc  requests.