123 Cool Kids Savings Account
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
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.
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.
This account does not attract any ledger 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.
Interest of up to 3% p.a. is paid to the savings account
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.