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KWFT Microfinance

KWFT  Microfinance

Kenya Women Microfinance Bank is a deposit taking microfinance bank. In addition to giving loans, KWFT mobilizes clients to have intermediate savings accounts. KWFT’s microfinance system helps to eradicate poverty and strives to empower Kenyan families through women and young girls who are members of the bank.
The following are the saving products available in the KWFT Microfinance.

Tausi Junior Account
This enables parents to accumulate savings for their children who are still under the age of 18 years.

Features include:

  • Minimum opening and operating balance of Kshs.500

  • Quarterly withdrawals

Benefits:

  • Easy access to any KWFT deposit taking branch

  • Competitive interest rates

  • Free bankers cheque for school fees

  • Free standing order to Tausi Junior Account

  • No account maintenance fee

  • No charge on cash deposit

  • Free home bank

 Tegemeo Savings Account

This account is designed for savers who want to see their account balances grow. It is available to both individuals, joint accounts, groups and entities.
Features:

  • Zero minimum opening balance

  • Quarterly withdrawals

  • Statements available on Half year basis

  • Bank Identification Card (ID)

Benefits:

  • Low minimum operating balances

  • Attractive interest rates

  • Special consideration when one applies for loans

  • No ledger and account maintenance fees

  • No cash deposit

Inuka Transaction Account
This account is ideal for people who need to access their cash regularly.
Features:

  • No opening balance

  • Unlimited access

  • Statements available on Half yearly basis and on request

  • Identification and ATM cards

Benefits:

  • Low minimum operating balances

  • Attractive interest rates

  • Consideration when one applies for a loan

  • Standing order available

  • Unlimited daily access to funds via counter and ATMs

Riziki Fixed Deposit Account
This is a fixed deposit account designed for individuals, groups and institutions who desire a savings plan for a fixed duration.

Benefits:

  • Negotiable interest rates

  • Free cheques when redeeming deposits.

  • Special consideration when one applies for a loan.

Features:

  • Minimum amount – From 5000 Kenya Shillings

  • Specific amounts of money

  • Specific deposit period

KWFT – Microfinance Call account

This is Ideal for short term deposits only. The call account is designed for individuals, groups and registered companies with some funds for short term savings or investments.

Features:

  • Opening balance-  From  5,000 Kenya Shillings.

  • Minimum withdrawal period of 7 days

  • Available on 24 hour notice

Benefits:

  • Low operating balance

  • Attractive interest rates

  • Flexible and attractive terms

  • Fast processing

Tujiunge Group Account
This is an account that is meant for formal and informal women groups who would want their savings to be safe and at the same time grow.

Features:

  • Minimum opening and operating balance of Kenya shillings 2,000

  • Minimum operating balance Kenya shillings 2,000

  • Monthly withdrawals allowed

  • Interest paid every 6 months

  • Savers can choose to receive 6, 12, 18 or 24 months investment scheme.

  • Requires 3 signatories

Benefits:

  • No opening balance

  • Attractive interest rates

  • Flexible savings period

  • Access to loan facilities