Mwanariadha Account

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BOA appreciates the remarkable contribution our athletes play by lifting the Kenyan flag high and their individual contribution in the society. It is in this regard that the Bank has developed a distinctive package with features and benefits that will further contribute to your sporting activities. This package will also be suitable for other sportsmen i.e. footballers, rugby players.

Waivers:

  • No charge on incoming wire transfers.
  • No charge on withdrawal and deposit of Kenya Shillings and foreign currency.
  • No charge on internal transfers within Bank of Africa Kenya (BOA-KENYA).
  • No charge on monthly ledger fees on both Kenya Shillings and foreign currency accounts.

Benefits:

  • Interest payable every end of the month on the monthly average credit balances.
  • Competitive foreign currency exchange rates.
  • Prepaid VISA card issued on application.
  • Regular seminars on investment, financial planning and life skills.
  • Advance payment on earnings expected (terms and conditions to apply).

Features

  • Low opening balance: USD 100, EUR 100 and GBP 100; Kshs. 1,000
  • Cheque book issued.
  • Interest on current account as follows:
    • KSHS: 7% for KSH
    • USD: USD 5,000 – 20,000 = 0.20% p.a., USD 20,000 -50,000 = 0.50 % p.a., Above USD 50,000 = 0.75%. p.a.
    • EUR: EUR 5,000 – 20,000 = 0.75% p.a., EUR 20,000 -50,000 = 1.00 % p.a., Above EUR 50,000 = 1.25%. p.a.

Frequently Asked Questions

Who can open a Mwanariadha account?

The account has been developed by BOA-KENYA as a distinctive package targeted at Kenyan athletes as well as sports men and women. The package offers features and benefits that are well suited to sports people.

Can I perform my account transactions using foreign currency?

Yes. The account can be operated with foreign currency as well as Kenyan Shillings.

Can I get a loan from the bank on this account?

Yes, your loan application will be considered based on the BOAK’s credit policy (terms and conditions will apply).

Can I use mobile or online banking to transact on this account?

Yes, holders of this account can access mobile banking and online banking services on application.

How regular will sessions on Investment, Financial Planning and Life skills be?

These sessions are scheduled to take place once every six months.

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