how to open a national bank account nbk

Last updated on June 9th, 2023 at 09:03 pm

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This article focuses on how to open a National Bank Account NBK ; the requirements to open an account at National Bank in Kenya. National Bank was incorporated on June 19, 1968.

It is now a subsidiary of the KCB group after their successful acquisition in 2019. It provides various banking services such as accounts, loans, insurance, investment, debit and credit facilities.

Requirements to open a National Bank Account in Kenya
(1). Personal account

(a). Current account

(I). Personal Current Account

Costs and fees

Introductory note – Ksh 1,000.
Postage Fee – Kshs 35 (minimum of Kshs 500 per month).

Unauthorized overdraft fee – Kshs 500.
Check book per sheet – Kshs 12.50.
No interest is payable.

What is needed

Your original and copy of your ID/passport.
1 passport photo (taken in office).

KRA PIN Certificate.
Proof of address/source of funds.

(ii). Premium account

This is a premium product that fits into the lifestyle of high-end banking customers.

Costs and fees

Introductory assessment – Kshs 5,000.
Registration fee – Kshs 1,200 per month.

There is no account book fee with a balance of Kshs 200,000.
ATM withdrawal – zero.

What is needed

Your name and a copy of your identity card/passport.
1 passport photo (taken in office).
KRA PIN Certificate.

Proof of address/source of funds.

(iii). Foreign currency current account

Costs and fees

Opening balance – 100 USD, 100 EUR, 100 GBP.

Ledger Fee – $10 for balances less than $2,000.
Newspaper fee – EUR 6 for balance below EUR 2,300.
Ledger Fee – GBP 3.50 for balances less than GBP 1,400.

(b). Financial account

(I). Ahadi money

Ahadi Savings Account makes it easy to save money, with low fees and attractive interest rates that help your money grow faster and your dreams happen faster.

Costs and fees

Introductory note – Ksh 1,000.
Interest rate – 5% per annum and quarterly in progress.

Free newspaper fees.
Free OTC fees.

What is needed

Your original and copy of your ID/passport.
1 passport photo taken at the office. KRA PIN Certificate.
Proof of address/source of funds.

(ii). Vision Savings Account

It is a savings account for children with an attractive rate, 5% per year on your income.

Costs and fees

Minimum opening balance – Kshs 500.
Minimum service charge – Kshs 500.

What is needed

Original and copy of Guardian National ID/Passport.
Birth certificate/birth declaration.

1 passport photo of guardian/parent to be taken at the institution.
Guardian/Parent PIN document.
Proof of address/source of funds (see AML documents).

(iii). Ahadi Premium Account

Costs and fees

Introductory assessment – Kshs 5,000.

Minimum service charge – Ksh 1,000. Interest rate – 5% per annum and quarterly in progress.
Free newspaper fees. Free OTC fees.

What is needed

Your name and a copy of your identity card/passport.
1 passport photo (taken in office).
PIN document.

Proof of address / source of income.

(iv). Business account

(I). Nat625 mobile account

This account allows you to enjoy all the benefits and services of the account from the comfort of your home or office as you go about your daily business.

Costs and fees

Maximum price per transaction – 70,000 Ksh.
Maximum account amount – Kshs 150,000.

What is needed

You must be 18 years of age or older.
You must have a working mobile phone.

(ii). National business account

This account allows you to access your money worldwide through your Visa debit card at any time.

Costs and fees

Introductory note – Kshs 500.
Job Evaluation – Kshs 500. Above withdrawal amount – Kshs 200.

Account Fee – Kshs 250 (if balance falls below Kshs 50,000).

What is needed

Your name and a copy of your identity card/passport.

1 passport photo (taken in office).
KRA PIN Certificate.
Proof of address/source of funds.

(iii). Student Account

This account allows you, as a student seeking higher education, to manage your money, your loans and track your expenses.

Costs and fees

Introductory note 500 Ksh.
There is no functional balance. Above withdrawal amount – Kshs 200.

What is needed

Original and copy of your identity card/passport.
Original and copy of your education card.
1 passport photo (taken in office).

KRA PIN Certificate.
Letter from college/educational institution.
Proof of address/source of funds.

(iv). Share an account

With its low interest rate and easy access to your money, this account is ideal for those with limited funds.

Enjoy the flexibility of managing your money effectively, also accessible on mobile.

Costs and fees

Introductory Fee – Kshs 400.
Service assessment – Kshs 50. Against political expenses – Kshs 200.

Free account maintenance fee.

What is needed

Your name and a copy of your identity card/passport.

1 passport photo (taken in office).
KRA PIN Certificate.
Proof of address/source of funds.

(iv). Share an account

With its low interest rate and easy access to your money, this account is ideal for those with limited funds.

Enjoy the flexibility of managing your money effectively, also accessible on mobile.

Costs and fees

Introductory Fee – Kshs 400. Service assessment – Kshs 50.
Against political expenses – Kshs 200.

Free account maintenance fees.

What is needed

Your original and copy of your ID/passport.
1 passport photo (taken in office).

KRA PIN Certificate.
Proof of address/source of funds.

(v). Taifa Account

This is a perfect account for those who pay. The account allows you to access your money easily and is easy to manage and access even from your mobile phone.

Costs and fees

Introductory note – Kshs 500.

Job Evaluation – Kshs 500. Above withdrawal amount – Kshs 200.

What is needed

Your original and copy of your ID/passport.

1 passport photo (taken in office).
KRA PIN Certificate.
Proof of address/source of funds.

Business account

(a). Micro Bank Account

(I). Jenga Biashara Account

This account is designed to provide affordable banking services to small business customers and ensures quality, accessibility and convenience. It focuses on small businesses such as retailers, grocers, restaurants, boutiques and pharmacies.

Costs and fees

Introductory note – Kshs 1000.

Free operating instructions.
There are no fees on the books.

What is needed

Copy of national identity card and PIN code.
If registered, business registration form.

(ii). Jenga Biashara account now

This account is designed to offer customers all the advantages of a small individual and reduces the cost of operation with a friendly flat fee per day. It is aimed at investors who have a stable business and need a research paper.

Costs and fees

An introductory assessment of 1,000 Ksh.

Monthly maintenance fee of Kshs 560.
Research papers.
At least work balance.

Free and unlimited ATM withdrawals.

What is needed

Copy of national identity card and PIN code.

If registered, business registration form.
Certificate of Incorporation for Limited Companies.

(b). Small business account

(I). Current SME account

With no minimum or active balance requirements, this account is affordable and tailored to your growing business needs. Get surveys, income opportunities and free monthly statements.

Costs and fees

Minimum zero and operating balance.
Introductory assessment – Kshs 5,000.
Mobile Banking Transaction Fee – Kshs 30 per transaction.
ATM withdrawal fee – Kshs 30 per transaction.
Free electronic speech.

What is needed

Registration/Entry Certificate.
KRA PIN Certificate.
VAT document.
Business license is useful.
Partnership document of the company (if applicable).
Board Resolution (if applicable).

(ii). SME business account

Designed for the day-to-day operational needs of small businesses, this account allows you to manage and maximize your income.

Costs and fees

Minimum zero and operating balance.
Zero maintenance costs.
An introductory assessment of 5,000 Ksh.
ATM withdrawal fee – Kshs 30 per transaction.
Free electronic speech.

(iii). Current school account

This account is designed to meet the needs of your public or private educational institution. It offers parents and supporters a convenient and secure way to pay school fees while helping your school collect, pay and generally manage its finances.

Costs and fees

Minimum aperture and functional balance.
Introductory note – 5,000 Ksh.
Mobile banking transaction fee – Kshs 30.
Monthly maintenance fee – Kshs 600.
Postage Fee – Kshs 30 per transaction.
Cash Management Fee – 0.15% for amounts over Ksh 1 million (on deposits and withdrawals).
Free internal transfers in bank branches.

3. Business accounts

(I). Current account

Costs and fees

At least work balance.
There are no financial processing fees.

What is needed

Completed application form.
Decision of the Board of Directors to open an account.
Management account for the current year and audit account for the previous year.

National Trust Account

(I). Amanah Taifa account

Costs and fees

Minimum opening and working balance – Kshs 500.
Free account maintenance fee.
Automatic cash withdrawal fee at ATM – 30 Kshs.

(ii). Almasi account

This account is designed with the customer and their unique banking needs in mind. From affordable rates to networking opportunities with other women, this account is for your success.

Costs and fees

Minimum service charge – Kshs 1000.
Free account maintenance fee.
Automatic cash withdrawal fee at ATM – 30 Kshs.

(iii). Amanah Student Account

This account is designed for the needs of college or university students. You benefit from good interest rates and free bank loans to pay your bills.

Costs and fees

Free operating instructions.
Automatic cash withdrawal fee at ATM – 30 Kshs.
Salary – Kshs 600
At least work balance.

What is needed

Kenyan Identity Card / Kenyan Passport is valid.
Proof of address with photo.

(iii). Account is currently inactive

Costs and fees

Minimum service charge – 100 USD or more.
Free bank or transaction fees when using premium balance (Kshs 200,000).
Monthly fee – Ksh 1,200 when the balance falls below the premium threshold.
Ledger and transaction fees – Ksh 1,200 when the balance falls below the premium threshold.

What is needed