Best Kids Savings Accounts in Kenya

Today I will take you through the best Kids’ savings accounts in Kenya, but first, let’s talk about savings habits.

While we were young, our parents taught us the art of saving, where they would buy us a fancy piggy bank to put our coins.

Developing the habit of savings from a very young age is very important since you will learn that saving little money to accomplish a certain task is important.

However, it may be difficult because you have to develop discipline and patience.

This is why various banks have now come up with junior accounts where parents can easily open an account for their kids and start depositing money used in their future.

If you have not started saving for your child’s future, worry not. It is never too late to start.

Best kids savings account in Kenya

These are the best junior accounts you can consider opening for your kids.

1. Jumbo Junior

This is a product of the Co-operative Bank of Kenya.

The account is designed for children who are 18 years old and below.

It happens to be the oldest accounts having been established in 1995.’

Requirements for opening a Jumbo account

  1. Must have a parent’s or guardian’s original ID Card and copy or Valid Passport
  2. A copy of the child’s birth certificate or birth or baptismal card
  3. A minimum of KES 1,050 as opening account balance
  4. A Minimum KES 500 operating balance
  5. Copy of KRA PIN

Benefits of having a Jumbo Account

  1. Automatic membership to the Jumbo Junior Club, which entitles one to:
  • Free ele-bank on opening a new account
  • Free birthday card every anniversary
  1. Discounted bank cheques for fees paid for account holders only.
  2.  Interest payable at 4%

2. Junior Eagle Savings Account

The account is a product of Absa Bank of Kenya designed for children between the ages of 0-18year old.

The parent or guardian is the only one authorized to operate the account. On opening, this account owner is eligible to join the Eagles club.

How to open a Junior eagle account

  1. Original Birth Certificate or adoption papers if the child is adopted.
  2. National ID /Passport
  3. Passport size photo
  4. Address confirmation
  5. Proof of residence
  6. Copy of Payslip or Income declaration form to be filled

3. Cub Account

Cub account is a KCB Bank product targeting children and teenagers below the age of 18 years.

The product is a free account that offers parents a saving platform to put away money for their children’s future.

How to open a cub account

  1. Must have a copy of the child’s birth certificate or birth notification
  2. Must have a copy of the parent’s national ID or a valid Passport
  3. Should at least have an opening balance of Kshs. 1,000

Benefits that come with Cub account

  1. A free cubby kit to enable them to start saving at home
  2. Enjoy an interest rate of 5% p.a. on your savings
  3. Free banker’s cheque per term to pay school fees
  4. One freestanding order per month
  5. Free life insurance cover

4. Junior Member Account

The Junior member is a children’s account owned by Equity Bank of Kenya.

Unlike other junior accounts that target children of 18 years and below, this particular one targets children mostly below 13 years.

Opening account Requirements

  • Must Parent’s original and copy of National ID./Passport
  • Must present an Original and photocopy of the child’s birth certificate
  • Have an opening balance of KES 200

Benefits of Junior Member account

  1. Free home bank and e-birthday card.
  2. Free financial education booklet.
  3. Free financial education during Junior Member open days.
  4. Free counter withdrawals

5. Young Savers account

This is a savings account by I&M Bank designed for children.

For you to open an account for your child, you require a minimum balance of KES1,000

No checkbooks or ATM Cards are issued, and there are no ledger fees or account maintenance charges. 

Benefits of Young savers

  1. No ledger fee is required.
  2. No Transaction Charges
  3. A young Savers Membership card is issued, which entitles the child to enjoy discounts at many shops and other outlets.
  4. If no withdrawals within one calendar year, bonus interest of 1% at the end of the calendar year on average yearly balance

6. Safari Junior Account

The Safari Junior account This is a children’s for the Standard Chartered Bank.

How to open a Safari junior account

  • Should have a minimum opening balance of KES 2,000, from which you begin to earn interest. The interest on this account is payable at the end of every calendar quarter.
  • One withdrawal per calendar quarter


  • Available in KES only
  • Earns high rates of interest. Interest is payable at the end of every calendar quarter (Rates can be advised through our Contact Centre, at our branches, or through your Relationship Manager)

7. Amanah Vision (Children Savings) Account

This is an account designed for children by the National Bank of Kenya. This account is operated by parents/ guardians on behalf of the child and offers interest on deposits above KES 5,000 up to 5.5% per annum.

Benefits of Amanah Vision

  1. Should have a minimum of KES 500 as operating balance
  2. No account maintenance fee needed
  3. 1 free banker’s cheque per quarter for school fees payments
  4. Freestanding order to Amanah Vision account

8. Mdosi Junior Visionary

Mdosi Junior is a children’s savings account owned by Family bank. The account is for children below the age of 12 years old.

Requirements for opening Mdosi account

  1. Must have parents/ guardian original and Copy of National ID or Valid Passport
  2. Original and Copy of Birth Certificate, Birth Notification, Clinic Card, Baptism Card
  3. Opening balance of Kshs 200/= or Kshs 1,000 for your child to start using Henry or Hannah Hippo Bank immediately


  1. Freestanding order from your Family Bank account to Mdosi Junior account
  2. Free Banker’s Cheque for payment of the Child’s school fees
  3. Free photo of parent/guardian taken at the branch
  4. No ledger fees charged
  5. We are now offering your son or daughter an opportunity to learn the discipline of saving by providing a free Home Bank.

9. Young Champions

The account is a product of the Commercial Bank of Africa set for children under 18 years.


  • Duly completed and signed the application form.
  • Original and certified ID or a valid passport
  • Two recent passport-sized photographs
  • Letter of introduction from your employer, one referee who has been a CBA account holder for at least six months, and a bank reference


  • Maximizes future savings for your children
  • Provides a great return on your funds with an attractive interest rate
  • Available in both local and foreign currency.