123 Cool Kids Savings Account

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Offers parents and guardians an opportunity to save for their children’s future. It is also aimed at educating the youth and motivating them to develop a savings culture.

Target Market:

  • Young children
  • Teenagers
  • Parents and guardians

Account Features:

  • Open with as little as Kshs 500
  • Minimum operating balance is Kshs 500
  • One free Bankers cheque per term
  • Balance to get Hippo Bank is Kshs 700
  • Access to school fees loan
  • Interest is paid to balances above Kshs. 5,000

Account Opening Requirements:

  • Certified copy of birth certificate of the child
  • 1 Passport size photograph of the child and the parent’s/guardian’s
  • Certified copy of passport/ID of parent/guardian

Tariffs:

  • No Ledger fees charged

Frequently Asked Questions

Who can open this account?

This account has been designed for young children, teenagers, parents and guardians. It offers parents and guardians a chance to save for children’s future and aims to educate youth and motivate to develop a healthy savings culture.

What is the minimum balance to open the account?

This account has an affordable opening balance of as low as Kshs. 500 and a minimum operating balance of Kshs. 500. In addition, the account holder will get a Hippo Bank for easier saving if the account balance is Kshs. 700 and above.

Are there any ledger fees charged on this account?

This account does not attract any ledger fees.

Can I access a loan facility to pay school fees?

Yes. Once you open a 123 Cool Kids Account, you can gain access to the Soma Loan which will help you finance education activities for your children.

What rate of interest does the account earn?

We offer attractive interest rates that are pegged on market conditions.

Will there be any children’s activities or fun days for account holders?

BOA organizes “Emptying days. At the branches every vacation where school going children get a chance to empty their Hippo Banks as they interact and have fun with banking officials – these activities introduce them to a saving culture.

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