Youth List Of 10 Most Expensive Banks In Kenya To Save Money In Last updated: 2023/10/25 at 10:44 PM Editor Share 4 Min Read SHARE The cost of getting banking services has increased, a new survey shows. The Kenyan Banks Tariff Survey 2016 report, released on Wednesday, March 17, an average Kenyan paid more for the services in 2016 as compared to 2015. “The industry average cost of banking has risen from KSh 12,197 in 2015 to KSh 12,515 in 2016, an increase of 3%,” reads the report done by Think Business magazine. The model customer used for the survey to represent the average bank customer was one in formal employment and is married with two children of school going age. The research studied 39 commercial banks out of the out of the 41 banks that are currently operational. Smaller banks were found to be charging higher rates than the bigger banks. They key indicators were: use of cheque books, ATM withdrawals, banker’s cheques for school fees, salary deposit/clearing and ledger fees. Here is the survey’s list most expensive banks in Kenya and the amount charged (on average) per year: 1. Standard Chartered Bank Ltd – KSh 16,860 2. Bank of India – KSh 16,308 3. Habib Bank Ltd – KSh 15,920 4. Middle East Bank of Kenya Ltd – KSh 15,840 5. First Community Bank – KSh 15,780 6. Equatorial Commercial Bank Ltd – KSh 15,520 7. Bank of Baroda (K) Ltd – KSh 15,250 8. Commercial Bank of Africa – KSh 15,180 9. Fidelity Commercial Bank Ltd – KSh 14,940 10. Jamii Bora Bank – KSh 14,860 On the opposite end, the cheapest banks in Kenya (according to the survey) are: 1. Prime Bank Ltd – KSh 5,100 2. Equity Bank Limited – KSh 6,430 3. Credit Bank Limited – KSh 6,580 4. Co-operative Bank of Kenya – KSh 8,680 4. UBA Kenya Bank – KSh 8,680 5. Consolidated Bank of Kenya Ltd – KSh 9,670 6. Family Bank Ltd – KSh 9,680 7. Barclays Bank of Kenya Ltd – KSh 9,940 8. African Banking Corporation Ltd – KSh 10,020 9. Eco-Bank – KSh 10,530 10. Housing Finance Coop – KSh 11,388 The Think Business placed the following firms being in between the most expensive banks in Kenya and the cheapest are: 1. Chase Bank Ltd – KSh 14,530 2. National Bank of Kenya Ltd – KSh 14,210 3. Gulf African Bank – KSh 14,160 4.CFC Stanbic Bank Limited – KSh 14,040 5. National Industrial Credit Bank Ltd – KSh 13,830 6. Guardian Bank Ltd – KSh 13,690 7. I&M Bank – KSh 13,680 8. Habib AG Zurich – KSh 13,060 9. Victoria Commercial Bank Ltd – KSh 12,900 10. Diamond Trust Bank Kenya Ltd – KSh 12,780 11. Giro Commercial Bank Ltd – KSh 12,680 12. K-REP Bank Ltd – KSh 12,660 13. Paramount-Universal Bank Ltd – KSh 12,520 14. Transnational Bank Ltd – KSh 12,400 15. Bank of Africa – KSh 12,288 16. Oriental Commercial Bank – KSh 12,145 17. GT Bank Limited – KSh 11,860 18. Kenya Commercial Bank Ltd – KSh 11,480 You Might Also Like Kenyan Remotasks Users Facing Difficulty Accessing Platform Samuel Kinyua: Kenyan Man, Displaced by COVID-19 Job Loss, Launches Security Company, Providing Jobs for 17 ‘Respect yourself!’ Woman Declares to TikTok Man Upon Departure, Leaving Him Alone with Their 4-Day-Old Child Call for Applications : Film Fupi Academy Program ( Short Film Academy) The United States Embassy In Kenya And Amref Health Innovations Employability Skills Training Program TAGGED: banks, equity, kenyan banks, money Sign Up For Daily NewsletterBe keep up! Get the latest breaking news delivered straight to your inbox.[mc4wp_form]By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time. Editor October 25, 2023 May 3, 2016 Share This Article Facebook Twitter Copy Link Print Share Previous Article May 2016 Product Manager Job Recruitment in Nairobi Kenya – Global Travel Retailer Next Article Brazil Block’s It’s Citizens From Using WhatsApp - Advertisement - Latest News Tusker Oktobafest Kicks Off Its Third Weekend with Mejja and Khaligraph Performing Entertainment November 1, 2024 Body by Design Launches Investigation into Death of a Patient News November 1, 2024 Fans Concerned After Cartoon Comedian Deletes Her Comedy Content Entertainment November 1, 2024 Remembering Tabitha Gatwiri: A Life Cut Short Yet Full of Spirit News November 1, 2024 Tragic Accident Claims Lives Along Thika Road News October 31, 2024 Bata Kenya Employee Collapses, Dies at Factory After Being Denied Day Off News October 31, 2024 Eric Omondi Reacts to His Photos Being Paraded as a Missing Person Celebrity News October 31, 2024 Terence Creative and Milly Chebby Announce KSh 10k Couples Event, Sparking Online Debate News October 31, 2024