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NCBA Bank Kenya PLC

Premier Savings Account

Bank savings account

What is this?

A savings account for larger balances. Interest is worked out daily and paid every quarter.

The details that matter for this kind of plan

Minimum operating balanceKES 100,000
Interest calculation and payoutInterest calculated daily; paid quarterly
TransfersTransfers limited to your NCBA current account
WithdrawalsProduct page states free OTC withdrawals; tariff lists OTC fees — we follow the tariff.
Rate is tiered by balanceThe more you save, the higher your rate (no public rate card)

What does it cost you?

Admin chargeNothing
Penalty for taking money out earlyKES 100
Penalty for taking money out earlyKES 325

What if you stop paying?

Keep at least KES 100,000 to keep it open.

What if you need the money early?

Cash withdrawals at the branch follow the tariff. NCBA may waive fees.

Who this suits

It could work for you if

You hold KES 100,000 or more and want a simple place to park cash.

Think twice if

You need many free withdrawals or a fixed public rate.

How openly does this company explain its charges?

DHides more than it shows6 of 13 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    They do not publish a minimum.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