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Equity Bank (Kenya) Limited

EazzySave Account

Bank savings account

What is this?

A savings account you run on your phone or at the branch. You can save any time and still earn interest if you keep at least KSh 20,000.

The details that matter for this kind of plan

Minimum operating balanceNo minimum operating balance.
InterestBalances from KSh 20,000 earn interest; the bank does not publish the rate. Interest is paid annually.
WithdrawalsOne free withdrawal each month; other withdrawal charges per the bank tariff guide (e.g. KSh 100 at the counter).
Monthly feesLedger fees Nil.

What does it cost you?

Admin chargeNothing

What if you stop paying?

There is no monthly fee. Your money stays in the account and you can add more later.

What if you need the money early?

You get one free withdrawal each month. Other withdrawals are charged as per the bank tariff.

Who this suits

It could work for you if

You want a simple account with no monthly charge and one free withdrawal a month.

Think twice if

You want a published interest rate you can compare now.

How openly does this company explain its charges?

DHides more than it shows5 of 12 answered
  • What do they charge you every year?
    No yearly charge is printed in the sources we checked.
  • What is taken off the money you pay in?
    They do not say how much of each payment is taken before it is invested.
  • What does it cost to get out early?
    No exit penalty is printed in the sources we checked.
  • What is the smallest amount you can start with?
    They do not publish a minimum. You have to ask an agent.
  • How long is your money tied up?
    They do not say how long you are tied in.
  • Is the advertised return before or after their charges?
    This product does not advertise a return.
  • Do they warn you the return is not guaranteed?
    This kind of product does not advertise a return.
  • Do they tell you what you get back if you stop early?
    You get whatever your money is worth on the day. There is no schedule.
  • Do they list what is not covered?
    This is not insurance, so there is nothing to exclude.
  • Are all their charges published?
    Yes, every charge they mention has a figure against it.
  • Do they say who regulates them?
    They do not say who supervises them.

This grades how openly things are explained, not whether the plan is good or bad. See how we work it out.

Compared with the others

There are 23 other plans of this kind on the board. See all 24 side by side — what each one leaves you with, and which of them will not say.

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