I am interested in the

If you are looking for a savings account for a short to medium term savings plan to achieve your goals, the platinum saver account is the ideal account for you. With an interest rate of 6% per annum, it is the most competitive in the market.

Why choose the SBM Platinum Saver Account

6% Interest per annum, paid monthly

KES 100,000 minimum operating balance

1 withdrawal every quarter

Eligibility / Documents Required

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

  • Original Kenyan national ID card and copy or
  • Original and copy of valid passport
  • Valid VISA
  • Alien Certificate, work permits/dependent pass/student pass/internship or
    research pass/certificate of permanent residence
  • KRA PIN
  • 1 passport size colored photo
  • FATCA completed forms for qualifying persons or entities. Any person who
    responds in the affirmative to this question MUST complete the FATCA forms:
    1. Are you a US citizen?
    2. Are you holding a US permanent resident card (Green card)?
    3. Were you born in the US?
    4. Have you ever granted power of attorney or signatory authority to a person
      with a US address?
    5. Do you have a US residential address?
    6. Do you have a correspondence, C/O or hold mail address in the US?
    7. Do you have a standing order to a US Bank account?
    8. Do you have a US telephone no?
    9. Are you a US resident?
  • Fully completed and signed Common Reporting Standard (CRS) certification forms
    where applicable.

Who Are The Target Customers?

  • A person saving for their first car
  • A young professional saving for a diploma or degree
  • Someone working towards building an emergency fund
  • A business owner saving for new office space
  • A couple saving for their first child, or for school fees
  • A farmer saving for a new tractor

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Rates & Fees

  • The minimum operating balance is Kes 100,000
  • Withdrawals on the account are restricted to once every
    quarter.
  • The interest is to be paid out on a monthly basis
  • The account is available in KES only
  • The account will still earn an interest of 3% if the account
    balance dips below KES 100,000
  • No ATM, cheque books, internet banking and mobile banking
    allowed to encourage saving
SBM Platinum Saver Account