How can we assist you today?

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

1. Original Kenyan national ID card and copy or
2. Original and copy of valid passport
3. Valid VISA for immigrants
4. Alien Certificate, work permits/dependent pass/student pass/internship or research pass/certificate of permanent residence
5. KRA PIN
6. 1 passport size colored photo
7. FATCA completed forms for qualifying persons or entities
8. Fully completed and signed Common Reporting Standard (CRS) certification forms. The following are Member Countries of CRS Reporting.

You can open a Platinum Saver account on Mfukoni if you are an existing SBM Bank customer. Login to Mfukoni to open your account.

The recommended account opening balance on a KES account is 100,000 while the account opening balance on USD, GBP and EUR is 1,000 for each respective currency. We however encourage customers to take up the solution by depositing any amount and grow their balances to the required minimum rate and more to enjoy the best interest rate.

• KES Account: Earn 9% 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%interst 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  

You will earn an interest of 4% p.a. on KES, 3% p.a. for USD, 2.5% p.a for GBP and 2% p.a for EUR accounts respectively, until such a time when your balances will get to higher interest threshold or more

Your account will earn an interest of 4% for KES, and 3% p.a. for USD, 2.5% p.a for GBP and 2% p.a for EUR accounts for all the days within the month of breach and will be tracked for a period of 90 days. 

The 9% interest rates for KES, and 4% interest on USD, 3.5% interest on GBP and 3% interest on EUR respectively, will resume in the new month post the 90-day breach period provided account balance is maintained at KES 100,000 and above, or 1,000 (USD, GBP or EUR) and above.

The Platinum Saver account is open to individual and business customers.

The Platinum Saver account is not a transactional account and therefore outgoing funds transfer services such as EFT, Pesalink, RTGS and Cheques are not available. Customers will however be allowed to make internal transfers to their own transactional current account within SBM. Customers will be able to pay into their Platinum Saver accounts through RTGS, EFT and Pesalink or even deposit cheques.

• The options available to send money to your Platinum Saver Account are:

• 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)
• 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

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:

• Telegraphic Transfer (TT) - to send funds in USO, 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)
• You can also write or deposit a cheque with your account name being the payee. Please note that the funds will only earn interest based on cleared balances. It takes one business day for a cheque to clear in addition to the day the cheque is deposited.
• You can send money to your account via PesaLink via Mfukoni:

1. Login into SBM Mfukoni Mobile or Online Banking> Funds Transfer> Pesalink> Select Source Account > Send To Account > Enter Account, Select from List of Banks, Enter Amount, Remarks> OTP & Submit NB: Ensure you have the correct account number and bank name. Learn more about using Pesalink here: Pesalink FAQs

Withdrawals on either KES, or USD, GBP and EUR accounts are restricted to one every quarter.

The account will earn an interest of 4% p.a for KES, and 3% p.a. for USD, 2.5% p.a for GBP and 2% p.a for EUR accounts for all the days within the month if the quarterly withdrawals are more than one (1).

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.