For students to survive in college even for a semester, they require a lot of money. This implies that any extra coin counts in the life of a student. The HELB loan for students is usually deposited through their bank accounts. Some are wise enough to start saving as early as that age. However, some banks take advantage of them and treat them as if they are employed either in the public sector or private sector. They insist that the minimum balance is above, Kshs .1000, which to a student, can buy the entire student Centre and the workers there.
Despite that, some banks have attractive account options specifically designed for students and children. Below are some of them.
1.Equity Bank Limited
Achiever’s Account is what students need to open with equity bank. This is the best bank account to open as student. It charges no fee for opening and does not insist on a balance once your account is opened. They do not charge maintenance fee for the account and the minimum balance is zero. A student can decide to withdraw all his money. When it comes to checking your balance via ATM., teller, or USSD, equity bank enables users to access it for free. Their ATM cards, both master and visa, are given instantly at a discount.
It also gives students free Equitel lines networked with their accounts, which can enable them to transact whenever they are any time they wish.
2.Barclays Bank Limited
Overtime, Barclays has strived to win the hearts of students and it has succeeded to be among the banks that recognize students. It even gives them free Student account when they are still in high school or primary schools, so that they can start saving. However, a deposit fee of Kshs 200 is required before activating this account. Their visa cards are given for free and their minimum balance is zero.
3.Kenya commercial bank (KCB) Limited
KCB has above 400 teller machines in Kenya, some even present at strategic places in learning institutions. They do not charge a fee for maintaining your account monthly as some banks do. Student Account is the one recommended for students.
4.National Bank of Kenya Limited
With zero minimum account balance and zero charges per month, a student account with the national bank of Kenya is very easy to manage. Their cards are also given at subsidized rates.
5. Co-operative Bank Limited
Co-operative bank is one of the banks with the most creative workforce. They tailor services to fit each caliber of individuals in the republic of Kenya and beyond. The students are not forgotten in the tailoring. With a student account at cooperative bank, one gets a free ATM card and free maintenance so long as the account is operational. However, the minimum balance is Kshs. 1000.
6.National Industrial Credit (NIC) Bank Limited
If you open a Student Account with NIC, your account will enjoy free maintenance every month. However, the minimum balance must be Kshs. 1000.
7.Gulf African Bank Limited
The Gulf African bank, through its Taleb account for students, is also caring to some extent.it does not charge maintenance fee though upon opening an account, there should be a balance of Kshs 500.
8.First Community Bank Limited
This bank maintains the student accounts for free though the minimum balance should be Kshs. 1000.