Junior bank accounts in Kenya compared

Most big Kenyan banks offer a children’s savings account opened by a parent. Equity’s Junior Member Account and Absa’s Junior Savings need no minimum balance, Co-op’s Jumbo Junior needs KES 500 and KCB’s Cub Account opens with KES 1,000. NCBA’s Junior Savings has a KES 2,000 operating balance and only pays interest above KES 5,000. All need the parent’s ID and the child’s birth certificate.

By the myKesho team · Updated 25 October 2026 · Rates and rules change; check with the provider before you decide

Lowest entry: Equity Junior Member and Absa Junior Savings, with no minimum balance.
Co-op Jumbo Junior: KES 500 to open, and it has a debit card option (KES 600).
KCB Cub Account: KES 1,000 to open, up to 7% interest, free banker’s cheque each term.
Withdrawals are deliberately limited on several accounts, which is the point of a savings account.
Terms change. Check with the bank before you open one.

The accounts side by side

These are the terms each bank publishes on its own site, checked in October 2026. Rates are "up to" figures and usually depend on the balance.

Bank and account	To open	Interest	Withdrawals
Equity: Junior Member Account	No minimum	Paid quarterly; rate not published	Limited (the bank lists one per quarter)
Absa: Junior Savings Account	No minimum	Up to 7% a year, paid quarterly	Not stated
Co-op: Jumbo Junior	KES 500	Earns interest; rate not published	Not stated; debit card KES 600
KCB: Cub Account	KES 1,000	Up to 7% a year	Not stated
NCBA: Junior Savings Account	KES 2,000 operating balance	Only on amounts above KES 5,000, paid quarterly	Only to an NCBA current account

Equity Bank: Junior Member Account

Equity’s account is for children from birth to 17. A parent or guardian opens it in the child’s name and signs for it. There’s no opening balance and no minimum operating balance. Interest is paid every quarter, and deposits, standing orders and e-statements are free. The child gets a home savings box once you deposit KES 1,000. There’s no debit card, and the bank lists one withdrawal a quarter.

Best for: families who want to start with small amounts and make withdrawals rare.

Absa: Junior Savings Account

Absa advertises no minimum balance, "no charges", and interest of up to 7% a year paid quarterly. It adds a free piggy bank when you fund the account, monthly e-statements, and Absa Junior Partners events and discounts.

Best for: families who want no minimum and like the events side.

Co-operative Bank: Jumbo Junior

Co-op’s children’s account is for under-18s and needs KES 500 to open and run. It earns interest, has free incoming standing orders, and offers a debit card for KES 600. You’ll need your ID, the child’s birth certificate and your KRA PIN.

Best for: older children who are ready for a card with a parent watching.

KCB: Cub Account

KCB’s Cub Account opens with KES 1,000, has no monthly fee and pays up to 7% a year. It comes with a free banker’s cheque every term, free monthly standing orders into the account and a home "cubby" savings kit. KCB also has a Sharia-compliant version, the Sahl Cub Account, which pays profit instead of interest and limits withdrawals to one a month.

Best for: families paying school fees through KCB, because of the termly cheque.

NCBA: Junior Savings Account

NCBA’s account needs a KES 2,000 operating balance and pays interest only on amounts above KES 5,000, accrued daily and paid quarterly. Money can only move out to an NCBA current account.

Best for: families who already bank with NCBA and will keep a larger balance.

What you need to open one

Every bank asks for the same basics:

your original national ID or passport, plus a copy
the child’s birth certificate or birth notification
proof of guardianship if you’re not the parent
some banks also ask for your KRA PIN and a passport photo

Do children’s accounts beat inflation?

Kenya’s inflation was 6.8% in September 2026. An account paying up to 7% only keeps up if you get the top rate, and many junior accounts pay less on small balances. That’s fine: a junior account is for building the habit and keeping money safe, not for growing it fast. For a teenager saving bigger amounts, a money market fund usually pays more. We compare all three in piggy bank, bank account or app.

A bank account teaches less than you’d think

Money that disappears into a bank once a term is invisible to a child. What builds the habit is seeing it grow week by week and choosing what to do with it. Many families use both: myKesho for the weekly practice of spending, saving and sharing, and a junior account for the bigger sums, like gift money from relatives.

Questions parents ask

Which bank is best for a child’s savings account in Kenya?

It depends on what you want. Equity Junior Member and Absa Junior Savings need no minimum balance. KCB Cub pays up to 7% and gives a free banker’s cheque each term. Co-op Jumbo Junior offers a debit card for older children.

What documents do I need to open a junior account in Kenya?

Your national ID or passport and a copy, and your child’s birth certificate or birth notification. Some banks also ask for your KRA PIN and a passport photo.

Can my child withdraw money from a junior account?

Usually only through the parent, and some accounts limit withdrawals, for example one per quarter at Equity or one per month on KCB’s Sahl Cub Account.

What happens to a junior account at 18?

Banks typically convert it to an adult account in the child’s own name once they have an ID. Ask your bank how it handles the switch.

Lessons for your child

How banks really work: Banks keep your money and lend it out
How savings grow: Interest, SACCOs and money that earns money
Save first, spend second: Why saving on payday works better than saving later

More guides

Sources

Checked on 25 October 2026.

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