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KCB Asset Management

KCB Money Market Fund

Money market fund · Regulated by the CMA

What is this?

Your money is pooled with other people's and lent out short term, mostly to banks and the government. KCB takes 2% a year to run it.

The details that matter for this kind of plan

Rate last updatedJuly 2024, on KCB's own page
Rate isafter the management fee, before tax
Money out in2 working days

What does it cost you?

Yearly charge on your money2% a year
Taken off each payment you makenot disclosed
Charge for taking money outnot disclosed
  • · KCB does not publish a charge for putting money in.
  • · KCB does not publish a charge for taking money out.

What if you stop paying?

Nothing happens. You can stop adding money and what is there keeps earning.

What if you need the money early?

There is no penalty. KCB says the money reaches you within 2 working days.

Who this suits

It could work for you if

You want your savings to earn more than a bank account while staying easy to reach.

Think twice if

You want to know today's rate before you commit. The rate on their page is from July 2024.

How openly does this company explain its charges?

CLeaves real gaps8 of 12 answered
  • What do they charge you every year?
    2% a year, taken from the money in the fund.
  • What is taken off the money you pay in?
    KCB does not publish a charge for putting money in.
  • 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?
    KES 5,000.
  • How long is your money tied up?
    Not at all. You can take it out whenever you want.
  • Is the advertised return before or after their charges?
    After charges. The number you see is the number you get.
  • Do they warn you the return is not guaranteed?
    No warning appears next to the figure, even though it is not a promise.
  • 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?
    No. 2 charges are mentioned without a figure.
  • Do they say who regulates them?
    Yes — the CMA. That is who you complain to.

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

Things to know before you sign

  • · The rate on KCB's page is dated July 2024. Ask them what the fund is paying today before you decide.
  • · 15% withholding tax is taken off the interest before it reaches you.

Talk to them

  • Website: ke.kcbgroup.com
  • If something goes wrong, the CMA is who supervises them.

Compared with the others

There are 9 other plans of this kind on the board. See all 10 side by side — what each one leaves you with, and which of them will not say.

How current is this rate?

The 15.9% on this page is the rate KCB Asset Management last declared, as at 2024-07-31 — over 2 years old.

the rate KCB shows on its own page for the fund, quoted as at July 2024.

This is the most recent figure KCB Asset Management publishes, not the most recent figure that exists. Ask them what the current rate is before you decide anything on the strength of it.

Where we got this