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.
Yes, a withholding tax of 15% is applicable to the interest earned.
Yes, you may borrow against your savings. The amount will however be lien marked and will be inaccessible until you clear your loan.
To encourage a saving culture, we have restricted the account from access to all digital and card channels. Withdrawals will be done through the branch. No debit card is issued to this account.
Pebble Savings Account is ideal for customers below 18 Years. Customers above 18 years to 25 years are encouraged to open the Student Account, which has unique features and benefits specifically for students.
Kindly reach out directly to your Relationship Manager or Branch Manager; alternatively, you can contact our SBM (K) Bank Contact Centre via:
Tel: +254 0) 709 800 000 I +254 0) 730 175 000
WhatsApp Chat: +254 0) 773 758 196
Email: atyourservice@sbmbank.co.ke
X: @sbmbankkenya
Facebook: SBMBankKenya
Please feel free to visit any of our branches for more details.
