Britam has introduced KidNest, a new investment account tailored for children aged zero to 25 years. This initiative allows parents, guardians, relatives, and well-wishers to start saving for children's future needs such as education and healthcare with a minimum initial deposit of Ksh1,000.
The account offers a low entry point and flexibility, with subsequent top-ups starting at just Ksh100. Investors can contribute regularly, benefiting from daily compounded interest calculated based on market performance. KidNest is an open-ended fund with no lock-in period, providing easy access to funds when needed.
Key Features of KidNest
- Designed for children aged 0 to 25 years
- Minimum initial investment of Ksh1,000
- Subsequent top-ups from Ksh100
- Daily compounded interest with variable rates
- No lock-in period
- Low-risk investment focused on short-term instruments
- Account names show both custodian and child for transparency
- Ability to manage multiple children’s accounts and age-based transfers
According to Britam Group CEO Tom Gitogo, starting early and investing consistently allows funds to grow significantly over time due to the power of compounding. Concepta Ayuma, Head of Business Development at Britam Asset Managers, emphasized that the accumulated funds can support children’s ventures into adulthood, including entrepreneurship and higher education.
How to Open a KidNest Account
- Download and open the MyBritam App, navigate to Products > Investment, then select KidNest.
- Prepare necessary documents: National ID or passport, KRA PIN, bank account details, child’s birth certificate, and proof of guardianship.
- Choose your investment amount, duration, and frequency of contributions.
- Enter personal and bank details of the investor.
- Provide the child’s information including name, date of birth, gender, and birth certificate details.
- Review and submit the application.
Alternatively, parents can start the process via WhatsApp by sending “Hi” to Britam’s number 0705100100 and following the prompts.
