Are you trying to figure out how to best plan for your child’s future? Consider getting him or her a KCB cub account.
Securing your child’s future is the best decision you can make for him.
The goal for the future is to make sure you have enough money for his or her education, health care, and an emergency.
Opening a KCB cub account will allow you to save for your child while also allowing you to meet his or her needs.
Opening the account also encourages your child to develop a habit of saving for the future.
Furthermore, unlike other KCB accounts, the account has its own set of benefits, such as high interest rates.
This article will provide an unbiased cub account review, including instructions on how to open the account, requirements, and benefits.
Account opening requirements
When opening an account with the KCB bank, the following requirements must be met:
• A copy of the child’s birth certificate or birth notification
• Parent’s national identification card or passport
• Make an initial deposit of Ksh. 1,000 to activate the account.
In Kenya, how do you open a KCB cub account?
It’s simple to open a KCB cub account if you’re interested.
All you need to do is take it with you to any KCB bank branch.
You’ll be directed to a page where you can open a free account.
The Cub Account’s Advantages
There are several advantages to establishing a KCB cub account for your loved ones.
Here are a few of the advantages:
1. There are no monthly fees for maintenance.
2. Once a year, you’ll receive interest based on the amount you’ve saved.
3. Rather than carrying cash, you can get a bank check to take to school.
4. KCB has partnered with a number of retailers, allowing you to save money on your child’s school supplies at places like Textbook Center.
5. The initial deposit is a fair amount. Kshs1000
Education Insurance with a KCB Cub Account
You can have a KCB cub account with education insurance for your loved ones, and KCB also offers insurance services.
It’s a savings account set up to ensure that your loved one finishes their education even if you pass away.
KCB bank will take over and ensure that your loved ones listed on the insurance achieve their educational objectives as you intended.
Advantages of the Education Insurance Account
There are a number of reasons why you should have this account, including:
• In the event of death, the KCB bank will pay out the entire insured amount plus the accumulated savings multiplied by 5.
• In the event of Permanent Total Disability, KCB Bank will pay the full amount at the time of disability and multiply the accumulated savings by 5.
• In the event of a critical illness, KCB Bank will pay out the entire sum upon the diagnosis of the critical illness.