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This is a fixed deposit account tailored for the needs of senior citizens aged 50 and over.

• Regular income through monthly interest payments credited to their transactional accounts.
• Financial security via regular cashflows.
• Easy to understand and manage.

• Senior citizens FDs offer a stable and secure investment option with guaranteed returns for a period.
• SCFD account provides higher interest rates compared to regular fixed deposit and savings accounts.

• One needs to be an account holder
• The minimum target age is 50 years
• For new customers standard KYC requirements suffice

The recommended minimum amount is kes. 1 million

Interest is paid out on a monthly basis to the client’s preferred SBM transactional or savings account

Yes, a withholding tax of 15% is applicable to the interest earned

Yes, you can withdraw money before the maturity date without incurring any penalty subject to review by your branch manager on emergency cases only.

You may access an overdraft facility secured by your SCFD subject to your application being approved.

You can either renew the FD for another term or withdraw the principal amount and accrued interest.