- NAWIRI ACCOUNT
A pay as you go (PAYE) account designed for individuals and sole proprietors running a business under their own name or a business name.
Key Features & Benefits:
- One free monthly e-statement
- Available in Kenyan Shilling (KES), US Dollar (USD), British Pound (GBP), and Euro (EURO)
- Online banking access
- Free inward Real-Time Gross Settlement (RTGS) transactions
- Cheque book facility
- Sidian Debit Card
Terms:
- No opening balance required
- No minimum balance required
- No ledger fees
- Free deposits
Fees & Charges:
- All fees and charges are subject to a 20% excise duty.
- Over-the-counter (OTC) withdrawal fee: KES 100.00
- Inward Electronic Funds Transfer (EFT) fee: KES 100.00
- Outward cheque deposits: KES 25.00 per cheque
Transaction Process:
- Withdrawals:
- All Sidian Bank branches
- Mobile banking via SidianVIBE
- Online Banking
- Deposits:
- Direct deposit to account via sidian bank paybill number 111999
- Pay Bill/Till to bank deposit
2. BUSINESS ACCOUNT
This account is ideal for limited companies, SMEs, large corporations, and even sole proprietors with high business volumes.
Key Features & Benefits:
- One free monthly e-statement
- Free access to online banking platform
- Salary processing platform (negotiable fees)
- Dedicated Relationship Manager for personalized service
- Available in Kenyan Shilling (KES), US Dollar (USD), British Pound (GBP), and Euro (EURO)
- Cheque book facility
Terms:
- No minimum balance requirement
- Unlimited daily deposits and withdrawals
Fees & Charges:
- All fees and charges are subject to a 20% excise duty.
- Opening balance: KES 2,000.00
- Ledger fee: KES 300.00 for the first 15 transactions, KES 20.00 for each additional transaction
Transaction Process:
- Deposits:
- Retail/Corporate internet banking
- Pay Bill/Till to bank deposit
- Direct deposit to account via sidian bank paybill number 111999
- Withdrawals:
- All Sidian Bank branches
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3. Ungana Current Account
This account is designed for investment groups, chamas, or other collective saving entities with a shared goal of accumulating funds for investment purposes. It facilitates small to medium-sized investments.
Key Features & Benefits:
- One free monthly e-statement
- Group investment training sessions offered by the bank
- Available in Kenyan Shilling (KES), US Dollar (USD), British Pound (GBP), and Euro (EURO)
- Free inward Real-Time Gross Settlement (RTGS) transactions
- Cheque book access
- Free deposits
Terms:
- Minimum balance: KES 2,000.00
- Opening balance: KES 2,000.00
- No ledger fees
Fees & Charges:
- All fees and charges are subject to a 20% excise duty.
- Over-the-counter (OTC) withdrawal fee: KES 100.00
- Inward Electronic Funds Transfer (EFT) fee: KES 100.00
Requirements:
- Certificate of Registration from the Registrar of Societies
- Constitution with rules and bylaws signed by all members
- List of members’ names
- KRA PIN Certificate or Tax Exemption Certificate
- Resolution to open the account
- National ID/Passport and KRA PIN of authorized officials
Transaction Process:
- Withdrawals:
- All Sidian Bank branches
- Deposits:
- Online Banking
- Direct deposit to account via sidian bank paybill number 111999
- Pay Bill/Till to bank deposit
4. Flexxy Account
This bundled account is ideal for individuals who make frequent transactions and comes with a flat monthly fee.
Key Features & Benefits:
- One free monthly e-statement
- Dedicated relationship manager for personalized service
- Available in Kenyan Shilling (KES), US Dollar (USD), British Pound (GBP), and Euro (EURO)
- Sidian Debit Card
- Free ATM withdrawals at Sidian Bank ATMs
- Cheque book facility (subject to terms)
- Free inward Real-Time Gross Settlement (RTGS) and Electronic Funds Transfer (EFT) transactions
Terms:
- Opening balance: KES 10,000.00
- Fees & Charges:
- All fees and charges are subject to a 20% excise duty.
- Fixed monthly fee: KES 750.00
- Free deposits
Requirements:
- Personal Account
- Valid National ID or Passport
- One Passport-sized photograph
- KRA PIN
- Declaration of source of funds
- Additional requirements for Kenyans living abroad, foreigners, and foreign nationals residing in Kenya (refer to Sidian Bank for details)
Transaction Process:
- Withdrawals:
- All Sidian Bank branches
- Mobile banking via SidianVIBE
- Online Banking
- Deposits:
- Direct deposit to account via sidian bank paybill number 111999
- Pay Bill/Till to bank deposit
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5. Mshahara Account
This transactional account is designed for salaried individuals who prefer a pay-as-you-go approach with no monthly fees or transaction charges. It’s also suitable for individuals who run businesses but earn at least 70% of their income through salary.
Key Features & Benefits:
- One free monthly e-statement
- Available in Kenyan Shilling (KES), US Dollar (USD), British Pound (GBP), and Euro (EURO)
- Free inward Real-Time Gross Settlement (RTGS) transactions
- Free deposits
Terms:
- No opening balance required
- No minimum balance required
- No ledger fees
Fees & Charges:
- All fees and charges are subject to a 20% excise duty.
- Salary processing fee: KES 100.00
- Over-the-counter (OTC) withdrawal fee: KES 100.00
- Inward Electronic Funds Transfer (EFT) fee: KES 100.00
Requirements:
- National ID or Passport
- One Passport-sized photograph
- KRA PIN
- Declaration of source of funds
- Additional requirements for Kenyans living abroad, foreigners, and foreign nationals residing in Kenya (refer to Sidian Bank for details)
Transaction Process:
- Withdrawals:
- All Sidian Bank branches
- Mobile banking via SidianVIBE
- Online Banking
- Deposits:
- Direct deposit to account via sidian bank paybill number 111999
- Pay Bill/Till to bank deposit
- ATMs (charges may apply)
6. Project Account
This current account is ideal for project management committees, government entities, churches, and Non-Governmental Organizations (NGOs).
Key Features & Benefits:
- One free monthly e-statement
- Free access to online banking platform
- Salary processing platform (negotiable fees)
- Dedicated relationship manager for personalized service
- Available in Kenyan Shilling (KES), US Dollar (USD), British Pound (GBP), and Euro (EURO)
- Corporate internet banking access
- Deposits via Pay Bill/Till to bank deposit
- Free inward Real-Time Gross Settlement (RTGS) transactions
- Inward Electronic Funds Transfer (EFT) fee: KES 100.00
- Cheque book facility (subject to terms)
- Direct deposit to account via sidian bank paybill number 111999
Terms:
- No opening balance required
- No ledger fees
- No minimum balance requirement
- Unlimited daily deposits and withdrawals
- Deposits cannot be made in cash
Fees & Charges:
- All fees and charges are subject to a 20% excise duty.
- Over-the-counter (OTC) withdrawal fee: KES 100.00
Transaction Process:
- Withdrawals:
- All Sidian Bank branches
- Online Banking
- Deposits:
- Pay Bill/Till to bank deposit
- Direct deposit to account via sidian bank paybill number 111999
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7. Sidian Advocate Account
This is a comprehensive financial solution designed specifically for lawyers (advocates) to help them manage their finances effectively.
Key Features & Benefits:
- Dedicated relationship manager for personalized service
- Available in Kenyan Shilling (KES), US Dollar (USD), British Pound (GBP), and Euro (EURO)
- Free inward Real-Time Gross Settlement (RTGS) transactions
- Corporate invoice discounting to improve cash flow
- Access to overdraft facilities
- Preferential rates on Professional Indemnity (PI) insurance premiums
- Competitive interest rates on fixed and call deposits
- Cheque book facility (subject to terms)
Terms:
- Opening balance: KES 2,000.00
Fees & Charges:
- All fees and charges are subject to a 20% excise duty.
- Ledger fee:
- KES 300.00 for the first 15 transactions and KES 20.00 for each additional transaction (applicable to accounts with balances below KES 500,000.00)
- No ledger fees for accounts with balances above KES 500,000.00