Bank savings accounts are a critical part of everybody’s financial life line. All who have ever needed a safe place to keep their money, a bank savings account then is usually a good choice.

Bank Savings Account

A bank savings account is a type of account made specifically to hold money that you do not need immediate access to. Savings accounts offer easy access to your cash. In other words, your money is liquid, meaning you can make a withdrawal easily and quickly in a bank savings account. It is however worth noting that savings accounts are not as liquid as other types of account like current accounts, because you can get money from a current account by simply writing a check, whereas saving accounts usually have a maximum withdrawal limit.

Most bank savings account pay a rate of return on the money clients have in their accounts. That means that you get “rewarded” for keeping your money in the account and your money earns interest. This is a nice incentive you get when your bank, as your account will grow even when you are doing nothing. The rates however vary from one bank to the other.

In line with giving customers more benefits and incentive to saving, CFC Stanbic bank has come up with a savings product that has the highest interest rate in the country as yet.

The CfC Stanbic Bank PureSave account helps you to accumulate your extra income and build up your cash reserves, attracting higher interest rates than transactional accounts to help your savings grow faster.

Features and benefits of the CfC Stanbic Bank Pure Save account:

  • A minimum account opening balance of KES 5,000 is required.
  • No monthly management fees are charged on your account.
  • A free Debit Plus card is issued when you open your account. This card allows you to check balances and make deposits at ATMs or over the counter.
  • Two free over-the-counter withdrawals may be made per month.
  • Cash deposits may be made at any CfC Stanbic Bank branch or ATM at no charge.
  • Your balance may be checked for free via any CfC Stanbic Bank ATM.
  • Interest is calculated daily and paid into your account on a monthly basis.
  • Accounts in the names of minors may be opened by parents or guardians.

This product comes at a time when most banks are charging very high loan interest rates upwards of 24 percent, which has made many people and businesses have a very hard time coping with these harsh financial times. The PureSave account has a standard rate of return of 9 percent for those with amounts of the Sh.5000 – Sh.499, 000. It is even more impressive how they have a 11 percent return for those who keep amount of Sh.500,000 and above.

It is a product that is surely going to shake the banking industry because no other baking institution in the market is even close to offering such attractive rates.

Leave a Comment

Your email address will not be published.

You may also like

Growing a Business

Want Great Guidance ? Find yourself a Super Mentor


They are the gods of small businesses, those inspired individuals who have achieved the highest levels of success. They can be the shining beacons who light up the path of running your business with their vision, wisdom and wealth of resources and contacts. They are The Mentors.

If you are fired with the passion to take your business to great heights, the best thing to do is find yourself a super mentor. Here are some tips to help in your quest

Pinpoint your Need

Sit down and focus your thoughts on your business growth strategy. Which area of the business needs a lift. Is is staffing, is it the finances, is it the production, is it the your lack of customers or is it the business as a whole that needs a makeover. Once you’ve zoomed in on the sore spot, this is where you need…

Read More
Growing a Business

Dreaming Big? You can Move Mountains with these Business Productivty Tips


You may be full of admiration for some people who seem to manage themselves and their work so usefully and efficiently. They seem to fit in so much productive work into the same number of hours which everyone has.. Let’s look what makes them tick and take a few tips.

Learn to identify your most productive hours

Its true, most productive people know which time of the day they can be most creative and efficient. They identify and allot these hours for the best part of their work. This way they are able to give their 100% awareness to the job and business productivity.

Early to rise- A winning habit

Waking up early is a personal habit that has all the plusses on its side. You need not necessarily go to work that early. It’s a habit that gives you more time for personal care, like mediation, exercise, walking,…

Read More
Growing a Business

Leadership Qualities that can make you an Icon


You may have reached the leadership position through sheer dedication to performance and a do or die attitude . Now that you are at the top, your viewpoint needs to change. You have to now be a role model, one whom others will look up to and follow. Here are some tips that can shape your leadership and management skills

Be Competent: Employees will look up to a leader who has good industry knowledge and management skills. If you do not possess these skills you should surround yourself with knowledgeable people who can offer good counsel. Competence is a trait all employees will admire.

Be Trustworthy: No one will look up to a person they cannot trust. Your employees will want to rely on you and count on you. In difficult situations, leaders are expected to apprise their employees of the situations and find solutions on how to address…

Read More
Raising Money

Are You offering Your Services Using the Right Pricing Strategies?


In these times of fierce competition, business people , mostly those that offer services and belong to the service based industry, are finding it a challenge to implement the right pricing strategies. It is virtually a struggle to set the right business price that will retain and attract the customers, and not drive them away. Follow these tips, the crucial dos and don’t s and you may be in a much better position to offer your services at the best price.

Maintain your Business identity and Dignity

If you are offering a unique or special product or service, don’t underrate it just because you want to build a better relationship with the customer. This will just cheapen your offering as another run of the mill. If its something special you are offering the customer, then communicate this fact to the client and get the equation right with the most…

Read More
Raising Money

What is a Fair Wage? How Do you Assess Fair Wage?


How do you figure out a fair wage?

This is a very common question for startups and small businesses. They can’t seem to decide or understand how to set wages and manage reputations at a time. They are determined to pay well but they also have to think about encouraging their employees to stay with them for a long time. This is why there is a need to think strategically.

Listed below are a few expert tips to help you decide:

Don’t Focus Only on Money

Money should never be the main focus for you or for your employees. You should decide on the wages in such a way that your employees are tied to your business. When your business does well they should be able to taste that success and vice versa.

Also, think about additional perks such as exclusive benefits and time off. Many employees value this more than the overall…

Read More
Raising Money

Tips to Winning Hard Negotiations With Ease


While some negotiations are easy, others are quite hard to win. If you stumble you will lose.

Whether it is a potential client or an investor, negotiations can be very tough and frustrating. The problem is that the moment you let your frustration overwhelm you, you will lose the deal and you will give in to whatever is being offered to you. In order to avoid that, here are tips to overcome tough times and to win even the hard negotiations:


Know your opponent as well as possible. This is the rule no matter what you do. You should understand your opponent to the T. Who the person is, what his culture is, what he thinks, what he stands for, how is his network, etc. are the questions you should ask yourself and answer through research before meeting up for the negotiation. Understanding the opponent will give you a great advantage.


Read More