:: African Banking Corporation Limited ::

DEPOSITS PRODUCTS

1) CURRENT ACCOUNT:- Designed to handle high number of transactions.

With unlimited cash and cheque book transaction, this account gives you the convenience of managing your day to day financial transactions with ease. The account can be operated in the following currencies:

Kenya Shillings
US dollars
Sterling pounds
Euro.

Your current account can have a sweep facility to any other account within the bank which is a great way of managing your finances without physically having to transfer money from one account to another. As a current account holder you are entitled to discounted rates on banker’s cheques and free monthly statements sent automatically.

Main Features:

Opening balance Kshs. 10,000.00
Minimum balance: NIL
Access to overdraft (conditions apply)
Sweep facility
Free internal transfers
Free monthly statements

Foreign Current Accounts: - Opening balance USD/GBP/EURO 500 ; Cash handling fee 1% on cash deposit
Fixed Deposits Accounts:- With very competitive interest rates for your term deposit the bank offers the following options:

a) Fixed Deposits Account with interest paid on maturity. This product offers the client an opportunity to choose whether interest should be compounded or paid to an operative account upon maturity of the deposit. Renewal is automatic if the client so wishes & the account can be opened in either local or foreign currencies. The minimum balance is Ksh 100,000/=. This account has no charges.
b) Fixed Deposits Account with interest paid monthly for the life of the deposit. Renewal is also automatic & the minimum balance is only Ksh 1,000,000/=
Flexi fixed Account. This is ideal for businesses running an Overdraft account, as it acts as security for the overdraft as it can be accessed in time of need

2) ADVANCES PRODUCTS

The Bank offers the following products as part of their advances portfolio;

Term Loans – These loans are basically advanced for the purchase of assets & the client may choose to pay through either equated or non-equated installments to suit the individual requirements.
Asset Finance - Advanced for either purchase of motor vehicles or machinery. The client may pay through equated or non equated installments to suit individual requirements.
Overdrafts – These facilities are offered to our clients to assist them meet their day-to-day working capital requirements