Every parent wants the best for their children. With the tough economic times, it is prudent for parents to introduce their children to the basics of sound financial discipline while securing their future. With this in mind, Family Bank has introduced the Mdosi Junior Account to cater to the needs of parents who would wish to save for their children with a trusted financial partner – Family Bank.
Family Bank is the fifth-largest bank in Kenya, as of Dec 2020, in terms of branch network with 93 branches across 32 counties. The Bank has over 600,000 customers, 4,800 bank agents, over 8,000 merchants countrywide with total assets exceeding KES 128 billion and a deposit base in excess of KES 88 billion.
Family Bank’s Mdosi Junior Account is an ideal option for children from an early age up to 12 years of age. The Mdosi Junior account is opened and operated by a parent or guardian. It is an account that is in line with the aspirations that many parents have for their children.
The Mdosi junior Account allows for three Free withdrawals per year with an Interest earning balance of only KES 5,000/=. Moreover, the account offers Loans facilities of up to 90% of the amount in the Mdosi Junior Account.
The account, offers customers a FREE standing order from their Family Bank account to the child’s Mdosi Junior Account, a FREE banker’s cheque to pay the child’s school fees, Free photo of parent/guardian taken at their preferred branch and NO ledger fees is charged on the account.
As a bonus, Family Bank is offering your child an opportunity to learn the discipline of saving by providing a free Home Bank where the child can safely save at the comfort of the home. By opening the Mdosi Junior Account, you start on that path of building a big future for your children laced with financial freedom.
In 2021 Family Bank received two awards; Financial Communication Campaign of the Year and Overall Public Relations Campaign of the Year at the 2021 Public Relations Society of Kenya Annual Awards for Excellence for the Corporate Bond Campaign where the Bank raised KES 4.42 billion via public placement marking a subscription of 147.3%. In 2022, Family Bank was voted as the overall second-best bank and best tier two bank in customer responsiveness and digital banking experience in a survey conducted by the Kenya Bankers Association.
Other awards include Bank of the year 2022, for high-impact agricultural SME lending by ACELI Africa; Best SME Bank in Kenya at the annual Banker Africa Awards 2017 East Africa –an award initiative for financial institutions in Africa; Think Business Fastest Growing Bank Award three years in a row between 2013 and 2015; and the Think Business Best Bank in Micro-Finance Award, 1st Runner-up in 2013 and 2014
