PesaGuide
← All plans
Absa Bank Kenya PLC

Absa Junior Savings Account

Bank savings account · Regulated by the CMA

Grows at
up to 5.95% a year
after their charges

A savings account for children run by a parent or guardian. It pays interest and has no monthly fee.

Hear when this changes

Try your own numbers
How

If you put in KES 5,000 a month for 5 years

You pay in
KES 300,000
Charges take
KES 0
Tax takes
KES 8,846
You'd end up with
KES 350,130
If you stop after 2 years instead

You would have paid in KES 120,000.

They do not publish what you would get back if you stopped early. You would have to ask them.

  • · Based on paying KES 5,000 a month for 5 years.
  • · They advertise this as a maximum. The real figure can be lower.
  • · 15% tax comes off the interest before you get it. They do not say if their rate already allows for it, so we took it off.
  • · The value goes up and down. This is not a promise.
  • · Worked out from the company's own published figures.

The details that matter for this kind of plan

Interest rate
Quoted as up to 7% per year. Interest paid quarterly. Rate varies by bank’s prevailing rates.
Minimum balance
No minimum balance required.
Free withdrawals
1 free counter withdrawal per calendar month. Other transactions are restricted.

How to open this

  • Open with KES 0

What does it cost you?

Admin chargemonthly service fee (provider states no charges)Nothing
Taken off each payment you makeyour deposits. Nothing is taken off the money you pay in — this account's charges are monthly and per transaction, and are listed aboveNothing

What if you stop paying?

Nothing is due. The money stays in the account and keeps earning interest.

What if you need the money early?

You can make one free counter withdrawal a month. Other transactions are restricted.

Who this suits

It could work for you if

You want a simple way to save for a child with no monthly fee.

Think twice if

You need full access to all banking transactions.

What they tell you

  • What is taken off the money you pay in?
    Nothing. They state there is no charge here.
  • What is the smallest amount you can start with?
    KES 0.
  • Are all their charges published?
    Yes, every charge they mention has a figure against it.
  • Do they say who regulates them?
    Yes — the CMA. That is who you complain to.

Talk to them

Compared with the others

There are 25 other plans of this kind on the board. See all 26 side by side — what each one leaves you with, and which of them will not say.

How current is this rate?

The up to 7% on this page is the rate Absa Bank Kenya PLC quoted, as at 2026-08-19 — 2 months old.

Absa quotes up to 7% a year on this account, paid quarterly, and says the rate moves with the bank's prevailing rates. It does not publish the tiers, and it does not say whether the figure is before or after the 15% tax on interest.

What has changed here

  • 28 August 2026
    • Taken off each payment you make is now 0%, and was not published before
    • The quoted rate is now 7% a year, and was not published before

We started keeping this record in August 2026. Anything that changed before then is not here. The whole board's record.

What the documents actually say

Every figure above was read out of a document. These are the sentences, word for word, so you can check them rather than take our word for it.

Where we got this