Frequently Asked Questions

How can we assist you today?

What is the loan interest rate?

The bank shall apply a competitive interest rate on the loan as guided by the risk-based lending matrix.

What is the processing fee applicable to this loan product?

There is no processing fee

Can one apply for the loan facility in foreign currency?

Yes. The loan is available across 4 currencies: KES, GBP, USD, EURO. However, the choice of currency is determined by the currency of the business receivable.

Can I have my savings in a foreign currency but borrow in KES?

No, both the savings and loan must be in the same currency.

Who can I contact if I need more information?

a) 24/7 Contact Centre

  • Phone: +254 709 800 000 / +254 730 175 000

  • WhatsApp: +254 773 758 196

  • Email: atyourservice@sbmbank.co.ke

  • X: sbmbankkenya

  • Facebook: sbmbankkenya

b) Visit any of our branches during our hours of operations and we will be glad to assist. c) Contact your dedicated Relationship Manager.

  • Phone: +254 709 800 000 / +254 730 175 000

  • WhatsApp: +254 773 758 196

  • Email: atyourservice@sbmbank.co.ke ; diaspora@sbmbank.co.ke

  • X: sbmbankkenya

  • Facebook: sbmbankkenya

d) Visit any of our branches during our hours of operation and we will be happy to help.

e) Contact your Relationship Manager.

What is a fixed deposit account?

A fixed deposit account is a type of savings account that offers a fixed interest rate for a specific period.

What is a senior citizen fixed deposit (SCFD)account?

This is a fixed deposit account tailored for the needs of senior citizens aged 50 and over.

Why should senior citizens consider SCFD accounts?

  • Regular income through monthly interest payments credited to their transactional accounts.
  • Financial security via regular cashflows.
  • Easy to understand and manage.

Why should senior citizens opt for this FD account?

  • Senior citizens FDs offer a stable and secure investment option with guaranteed returns for a period.
  • SCFD account provides higher interest rates compared to regular fixed deposit and savings accounts.

What are the requirements for opening a senior citizens fixed deposit?

  • One needs to be an account holder
  • The minimum target age is 50 years
  • For new customers standard KYC requirements suffice

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