Using cash has many risks, including exposure to theft and mismanagement. Bank accounts offer the most convenient, safe, and easiest way to save money. They are cheaper and provide other benefits such as secure money transfer, bill payments, and 24 hours access through ATMs or mobile banking.
A bank account will help you access credit or earn interest from your savings. However, different banks have different terms and conditions regarding money lending. Although the Central Bank of Kenya regulates them, their loan interests differ slightly. The good news is that you can choose the most convenient bank from the many.
Check out the established banks in Kileleshwa:
1. Equity Bank Lavington Branch
Equity bank is an established financial institution in Kenya with hundreds of branches and agents. It is one of the banks in the world that serve everyone from the wealthy, middle class, and low-income earners. To make its services convenient and comfortable for everyone, Equity bank introduced supreme branches to serve affluent customers that may need personalized assistance.
The Equity Lavington branch is one of the 15 established supreme branches. As a result, it doesn’t offer retail services. However, you can also access Equity bank services from their agents.
Location: PQ99+5QW, Nairobi
Working hours: 8 am – 8 pm
Contacts: 0707 648666
Google rating: 3.6 stars, (13 reviews)
2. I&M Bank
I & M is a top-ranked bank and insurance group in Kenya, Rwanda, and other east African countries. In Kenya, I & M bank has become a key player in the banking system, providing customers with well-designed products to help each achieve their desired financial goals. Their services are general banking, insurance, wealth management, custodial services, and money transfers. They also offer diaspora banking and money lending.
Location: Lavington mall, James Gichuru Road, Nairobi
Working hours: 9 am – 5 pm
Contacts: 0719 088027
Google rating: 3 stars, (3 reviews)
3. Methodist Sacco Limited
Methodist Sacco limited is a Christian financial solution provider serving East African countries and beyond. It offers various products, including individual and organized group loans with reasonable interests and flexible payment plans. Its services are transparent and ensure a high degree of integrity and professionalism.
The Methodist Sacco limited is open for membership as long as you are 18 years and have a source of income. Chamas and children whose parents are members can also join the Sacco.
Location: PQ5G+RG2, Nairobi
Working hours: 8 am – 5 pm
Contacts: 0721 765045
Google rating: 5 stars, (3 reviews)
4. SMEP Microfinance Bank
SMEP is a public limited company licensed under the microfinance Act and regulated by the Central Bank of Kenya. It offers various services, including group banking, church banking, and SME loans. It also operates a subsidiary company (SMEP Bancassurance Intermediary) which provides various insurance services.
In addition to lending money, SMEP microfinance actively encourages people to develop saving habits. They also educate their customers on the risks involved with loans and ways to prevent them.
Location: PQ5J+PG9 SMEP House, Kirichwa Rd, Nairobi
Working hours: 8 am – 5 pm
Contacts: 020 3572799
Google rating: 3.9 stars, (17 reviews)
5. Sidian Bank – Kilimani Branch
Sidian bank, formally called K- rep, is a full-service commercial bank providing customers with various products, including individual and enterprise banking. It is also a leading player in the banking system, with numerous branches in most towns and extensive residential areas. For years, the Sidian bank has been on the front line in supporting the development of small and micro businesses through NGO management programs.
Location: Entrance on Ring Road Kilimani, Wood Ave, Nairobi
Working hours: 8 am – 4 pm
Contacts: 0711 058000
Google rating: 3 stars, (3 reviews)
6. Credit Bank Limited Lavington Branch
Credit bank is a growing financial institution offering various products, including microloans, motorbike insurance, development loans, and property insurance. It is best known for its friendly and flexible loan terms that are less stressful than most money lenders in Nairobi. Whether you are starting or planning to expand your business, Credit bank limited will walk you to success.
Location: Lavington Mall, 2nd Floor, James Gichuru Road, Nairobi
Contacts: +254 709 072000
Google rating: 2 stars, (1 review)
7. PesaPoint POS Haven Agencies
PesaPoint is an African-based agent network company founded to redefine the distribution of digital financial products. In Kenya, it has introduced a multi-sided platform that enables customers to deposit or withdraw cash across all banks. It also accepts bill payments such as water and electricity.
In addition, PesaPoint is fast becoming a key player in the retail networks. As their agent network grows, customers will no longer need to visit their respective banks for cash deposits or withdrawals. It is slowly finding its place at the center of every money transaction.
Location: Lavington Green Shopping Centre, Lavington Estate, Nairobi
Working hours: 12 am – 11.30 pm
Contacts: 020 2853300
Google rating: (no reviews)
8. The European Investment Bank
The European investment bank is the world’s largest international public bank and one of Kenya’s oldest banks. It is also one of the critical financiers of most projects in Kenya, including the Turkana wind farm and the Olkaria geothermal plants. Their services include loans, equity, and financial advisory services. They hire competent financial experts to ensure clients receive life-changing financial advice and support.
Location: 95 Riverside Dr, Nairobi
Contacts: 020 2735260
Google rating: 1 star, (1 review)
9. Chase Bank (head office) – Riverside Mews
Chase bank is a fully established commercial bank with many branches in Nairobi and other developed towns. It focuses its services on middle-income earners and small and medium-sized businesses. Its services are general banking services such as saving accounts, money lending, and financial advisory. In addition, Chase bank owns and operates a deposit-taking microfinance institute.
Location: D, Delta Riverside office Park, Riverside Dr, Parklands,
Working hours: 9 am – 4 pm
Contacts: 0730 174050
Google rating: (no reviews)
Conclusion
Banks continue to be at the center of business operation, whether small or large. As a result, everyone dealing with such businesses, whether a customer or owner, must have a bank account to facilitate money transfers.
