Young people aged between 12 and 18 can now enjoy Postbank's new product, SMATA account.

During the launch of the account at Ofafa Jericho High School in Nairobi, the bank's managing director Dr. Nyambura Koigi said,  “to open and account, all one needs is Ksh50 as minimum amount. This will make it accessible to a large pool of unbanked youths who are the majority.” The bank targets to register over Ksh70,000 SMATA accounts by the end of this financial year and has so far registered Ksh2,000 accounts already.

Other features of this account will include:-

• An account operating balance of Kshs. 200
• A free Debit Card
• A minimum Deposit amount of Kshs. 50

Applicants of this account will also e required to produce their parents' or guardians' identification documents, (national ID or a valid passport) as well as a complete signed application form.

The withdrawal policy of this account will require holders to be in the company of their parents/guardians. Any amount of money can be withdrawn from this accounts leaving the minimum balance which will be done any time during the banking hours.

Prospective applicants can download application forms here.