Effective July 1, 2024, NCBA Group will no longer charge monthly fees for their retail banking accounts, aiming to provide better value for their customers.
This adjustment will apply to both existing and new current account products for incoming customers. Consumer banking accounts, such as the salary account, Platinum Flexi, Platinum Pay-as-you-go, Gold Pay-as-you-go, Premier All-in-One, Platinum All-in-One, and Gold All-in-One, will be included in this change.
Additionally, commercial and SME accounts, including Business Current, Gold, and Platinum accounts, will benefit from this new arrangement.
“This new era of no monthly fees aligns with our commitment to prioritize our customers. By waiving these fees, we offer a buffer that allows customers to maximize their funds, especially during challenging economic times,” stated Tirus Mwithiga, Group Director of Retail Banking at NCBA.
In 2023, NCBA experienced the highest profit growth among lenders, with a 56.0 %increase to KES 21.5 billion. The bank’s customer base has more than tripled due to a strong focus on diversified digital banking. A recent CBK report indicates that NCBA has 416,481 accounts with balances exceeding KES 500,000, the highest among all lenders in the country.
“With this change, clients will only incur charges for specific services and transactions utilized, which remain unchanged according to our published tariff guide,” Mwithiga added.
