Are you seeking a KCB Tuungane Chama account review? In this article, I’ve detailed how to open an account and its benefits.
KCB Tuungane Chama account is meant for groups who would like an account with KCB to start saving and grow their groups finically.
KCB bank offers its services not only in Kenya but in East Africa and beholds to help Chama grow.
The journeys start with opening the Tuungane Chama account.
The account is given a Swahili name, which means pool together.
Forming Chama or groups is to work out ways to improve each live member hood and KCB Bank, through the Tuungane Chama account will help achieve the target.
You should fall under Chamas, investment clubs, investment companies, welfare groups/clubs, merry-go-rounds, women, and youth groups to open the account.
It doesn’t matter where you are, a large or small Chama; the ban has no limitation on the numbers.
How To Open KCB Tuungane Chama Account
To open the account, KCB bank requires you to produce a group registration certificate and other necessary documents.
To open the account, you can visit any of the KCB bank branches near you.
Benefits Of Tuungane Account In Kenya
There are several benefits of opening this account as a group.
Whether you are a small group or big, you can open the account as there is no limitation.
Here are some of the benefits of the KCB Tuugane account:
1. Low opening and operating balance.
2. No maintenance or ledger fees.
3. Minimum monthly deposits are allowed.
4. Make payments through Cheques.
6. Access your money regularly
7. Get loans of up to 90% of the deposit amount in the base rate’s investment account.
KCB Tuungane Chama account Loans
After opening the Tuungane Chama account, KCB bank offers various loan products to the group.
The loan limit is determined by the amount saved and then gets 90 % of the savings.
As a group registered, the Tuungane Chama account can access loan products such as Mortgage and Construction Financing.
If it is residential houses, the ban offers 90% financial, and for commercial houses, the bank offers up to 80%.
The loan is meant to improve the livelihood of group members.
As a group, you can also get a loan to buy or build income-generating housing units.
KCB bank also offers other loan products as per the group request.
These loan products are given to Chama, not a person in Chama.
That is the KCB Tuungane Chama Account Review.
Here is the list of our KCB articles:
Fixed Deposit, Mobi Loan, Careers, Cub Account, Forex Exchange, Types of Accounts, Activate Mobile Banking, Mpesa Loan, Savings Account, Apply for Credit Cards, KCB Opening Hours, KCB Mpesa Interest Rate, Diaspora Banking, Salary Advance, Paybill Number, Savings Interest Rate, Business Account, Prepaid Master Card, KCB Student Account.