Requirements To Open DTB Bank Accounts In Kenya

This article focuses on the requirements to open DTB Bank accounts in Kenya. Diamond Trust Bank (DTB) is an award-winning tier 1 lender in Kenya that is also listed in the Nairobi Securities Exchange. It is an affiliate of the Aga Khan Development Network and has operated in East Africa for over 70 years, with over 130 branches in Kenya, Tanzania, Uganda and Burundi.

Requirements to Open DTB Bank Accounts in Kenya

(a). Current Accounts

1. DTB Classic Individual Account

This is a transactional account with a flexible pay-as-you-go price structure, i.e zero transactions and zero charges. This account’s main service delivery channels are via branches, ATMs and mobile banking.

Benefits

Access to debit card as per tariff.
Access to cheque book as per tariff.
Access to mobile banking.
Free access to e-statements.
Access to discounted emergency ambulance services.

Requirements

(i). Individual Accounts

National ID (Kenyan citizens).
Valid passport and foreign certificate (foreign citizens).
One passport size photo.
KRA PIN certificate.
Proof of physical address (lease agreement/ utility bill indicating name and physical address.

(ii). Corporate Accounts

Certificate of incorporation/ registration or certificate of registration form (for sole proprietors/clubs/societies/associations/churches).
Registration form (for sole proprietors/clubs/society/associations/churches).
Constitution and by-laws for clubs, associations, societies and foundations.
Memorandum and Articles of Association for companies incorporated pre-2015 (Co.Act 486) while CR 1 and 2/3 and 8 for companies incorporated post 2015 (Co. Act 2015).
Partnership Deed duly signed by all partners (in case of partnerships).
Signed board resolution by at least two directors or 1 director plus company secretary with affixed with a CPS stamp.
KRA PIN certificate.
Proof of physical address.
Business permit, lease agreement, utility bill (indicating name and address of entity).
Latest audited/Management accounts.
Kenyan ID/ valid passport with visa page, foreign certificate/alien card (foreign nationals) and tax PIN for all stakeholders (sole proprietors, shareholders (owning more than 5% of the entity), directors, partners and signatories.
Practicing/ trading license (applicable for lawyers, insurance companies, brokers and agents,
CBK license for financial institutions only.

2. DTB Elite Individual Current Account

The account is designed to cater for the affluent/ experienced individuals who appreciate preferential treatment. It comes with a minimum balance of Khs 5,000 and a flat fee of Kshs 750 per month.

Benefits

Access to a free mastercard platinum debit card.
Eligible for a minimum credit limit of Kshs 100,000.
Access to one free 25 leaf cheque book per year.
Free access to e-statements.
Access to personal accident cover of Kshs 100,000.
Complimentary road emergency ambulance services.

3. Titan Individual Current Account

This is an account designed for the high net-worth individuals who require bespoke banking services and expects preferential treatment and recognition. The account comes with a minimum balance and a monthly fee. The main service delivery channels for the account is via branches, ATMs and mobile banking.

Benefits

Access to a free mastercard platinum debit card.
Eligible for a minimum credit limit of Kshs 300,000.
Access to two free 25 leaf cheque book per year.
Free access to e-statements.
Access to personal accident cover of Kshs 300,000.
Access to complimentary road and air emergency ambulance services.

Features

Minimum balance of Kshs 50,000.
Flat fee of Kshs 2,000 per month.

4. Prime USD/EUR/GBP Account

These are a group of accounts aimed at attracting foreign currency deposits.

Benefits

Suitable for clients with a regular income in foreign currency.
No ledger fees.
Free monthly e-statements.
Interst is calculated and credited monthly (USD).
Access to internet banking channels.

Features

Currency- US Dollars, Euro and Great Britain Pounds.
No opening amount and minimum balance.
Attractive interest rates on balances over USD 5,000.
Channels/ account and information access- cheque book, internet banking, e-statements.

(b). Savings Account

1. DTB Savings Account

The DTB Savings Account is designed for individuals who would like to save for their future and enjoy earning interest every half year. The account enjoys a zero maintenance fee and a mastercard debit card.

Benefits

No ledger fees.
Free monthly e-statements.
Interest is calculated and credited half yearly.

Features

No opening amount/ minimum balance.
Competitive interest rate on balances over Khs 1,000.

2. Prime USD/EUR/GBP Account

The accounts are best suited for accumulating savings in foreign currency deposits.

Features

Currency is in US Dollars, Euro and Great Britain Pounds.
No opening amount/minimum balance.
Channel/ account and information access- internet banking (optional), e-statements.
Attrative interest rate on balances over USD 5,000.

Benefits

No ledger fees.
Free monthly e-statements.
No account maintenance fee.

3. Just 4 Me Account

It is a tailor-made account designed to help you and your children save for a brighter future.

Features

No opening amount/minimum balance.
Currency is Kenya shillings.
Competitive interest rate on balances over Kshs 1,000.
Channels/ account and information access- internet banking (optional), mobile banking (optional), e-statements).

Benefits

No ledger fees.
Free monthly e-statements.
No account maintenance fees.
One free withdrawal and one free banker’s cheque respectively per quarter.

(c). Salary Account

This is a transactional account for the salaried individuals. Customers can opt to have a debit card for this account and salary processing for the corporate client is carried out through the internet banking platform.

Benefits

No minimum account balance.
Free monthly e-statements.
Access to a debit card that can be used for ATM and POS transactions.
Access to DTB’s internet and mobile banking platforms.

Features

No opening amount.
No minimum balance.
Interest rate- N/A.

Requirements

National ID (Kenyan citizens).
Valid passport and foreign certificate (foreign citizens).
One passport size photo.
KRA PIN Certificate.
Proof of physical address (lease agreement/ utility bill indicating name and physical address).
Introduction letter from employer/ copy of pay slip.

(d). Fixed Deposit Account

The DTB Fixed Deposits are designed to enable you to save money for a period ranging from three months to one year. The bank also offers call deposits that can be opened for a minimum period of seven days and can be liquidated as and when required.

Benefits

Interst is earned on deposits.
Funds available on demand (call deposits).
Funds on fixed deposit can be used as security against advances.

Features

Currency- Kenya shillings, US Dollars (USD) and Great Britain Pounds (GBP).
Minimum deposit amount- Kshs 100,000, USD 10,000, GBP 10,000.
Term- Fixed deposits – one month, three months, six months and one year. Call deposits- a minimum of seven days.

(e). 24/7 Digital Account

It is a current account that is suited for everyday transactions.

Requirements