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Sumac Microfinance Bank Limited Savings Account Details

Rates available from as of 1st April 2021
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Sumac Microfinance Bank Limited

Savings Account
Interest Rate
4
%
-
4
%
(per year)
Min Interest Earning Balance
Ksh
0
Interest Payout
Annually
Withdrawal Limit
Anytime
No account fees
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Account Fees:

  • Withdrawal fees: 56
  • Maintenance fees: 0
  • Statement fees: 0

Account Details:

  • Minimum Opening balance: 200
  • Interest Payout: Annually
  • Withdrawal frequency: Unlimited
  • Currency options: KES
  • Account opening process: Branch

Documentation Requirement:

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Pros:

  • Low opening balance
  • Relatively high Interest(4%)

Cons:

  • Unrestricted withdrawals
  • Interest paid out annually

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