Product Manual

2015

PRODUCT GUIDE

RETAIL PRODUCTS

LIABILITY RODUCTS-RETAIL

PRODUCT FEATURES BENEFITS TARGET MARKET

BUNDLED ACCOUNTS

ELITE Bundled current and

savings account

No monthly fee for

average balances above

Kes.350K

If average balance in both

the current and savings

account at end of month

is below Kes.350K, then

Kes.1899 monthly fee is

applied.

Minimum Balance

Kes.2,000 to earn interest

on savings account

Debit Cards (Infinite)

Cheque books

Free Savings Account with tiered interest rates of as

high as 3.5%

Free local ATM transactions

Free telegraphic Transfers (TTs) (Chase Bank Charges

only)

Free real Time Gross Settlements (RTGS)

Free cheque books

Free atm cards(infinite)

One local and one foreign Banker’s Cheque per

month (Cash back into customer’s account

Insurance Benefit of:

i) Personal Accident insurance cover of up to

KES 100K

ii) Domestic Protection insurance cover for:

a) Household items for up to KES 250K

b) Domestic Servant Medical (KES 200k in-

patient only)

c) Compensation for lost valuables up to KES

100K.

High income earners

who transact a lot

across all channels

both locally and

internationally.

ASPIRE PLUS

Bundled current and

savings account

No monthly fee for

average balances above

Kes.70K

If average balance in both

the current and savings


high as 3.5%

First Free Debit Card

First Free Cheque book (25 leaves)

Free Chase Bank ATM transactions

One free Telegraphic Transfer (TTs) (Chase Bank

Charges only. Correspondent bank charges to be

Bundled account that

offers a current

account and

additional free

savings account. The

bundle is Taylor made

to fit middle income

account at end of month

is below Kes.70K, then

Kes.899 monthly fee is

applied.

Minimum Balance

Kes.2000 to earn interest

on savings account

Debit Card

Cheque book

paid by client)

One free real Time Gross Settlements (RTGS)


iii) Personal Accident insurance cover of up to

KES 100K

earners

ASPIRE

Bundled current and

savings account

monthly fee of Kes.99

Minimum Balance


on savings account

Debit Card

Cheque book


high as 3.5%



Free Chase Bank ATM transactions


i) Personal Accident insurance cover of up to

KES 100K

Bundled account that

offers a current

account and

additional free

savings account. The

bundle is Taylor made

to fit low income

earners.

STAND ALONE

ACCOUNTS

JIVUNIE CURRENT

ACCOUNT

NIL monthly ledger

fees

Available in all major

currencies:

KES,USD,GBP,EUR

Debit Card

Cheque book




ii) Personal Accident insurance cover of up to

KES 100K

This is a pay as you go

current account

which charges per

transaction. Suitable

for customers who

have minimal

transactions

INTSANT SAVER NIL monthly ledger

fees


Tiered Interest rates as high as 3.5% p.a.

Free Pebble account available

This is a stand-alone

savings account, for

anyone looking to

currencies:

KES,USD,GBP,EUR

Interest, credited

quarterly.

Minimum Opening

Deposit Kes.2000 or

FCY equivalent

Minimum Balance

Kes.5000 to earn

interest

Quarterly Statements

open one interest

earning savings

account.

MINOR’S ACCOUNT

PEBBLE SAVINGS

ACCOUNT

NIL monthly ledger fees.


currencies:

KES,USD,GBP,EUR

Minimum Opening Deposit

Kes.2000 or FCY equivalent

Minimum Balance


1 free bankers cheque per quarter

Free Piggy Bank

Complimentary invite to Pebble Fun Days.

SMS alerts on various events for children


Targets parents who

wish to give their

children under the

age of 18 years a

head start in life

through allocation of

funds for a cause.

CHAMA/GROUP

ACCOUNT

WEKEZA SAVINGS

ACCOUNT

NIL monthly ledger fees.


currencies:

KES,USD,GBP,EUR

Minimum Balance



Free internal transfers.

Free standing orders to the Wekeza account for

Chase Bank account holders.

One free banker’s cheque per quarter.

Wekeza loans for individuals and the group

Targets Investment

groups which are

unregistered

INVESTMENT ACCOUNTS

ORIGINS SAVINGS PLAN NIL monthly ledger fees. Flexible modes of payment in terms of timing and An investment

Option to pick from a one

,two or three year plan

12.1% interest

Minimum Balance


Debits made before

maturity forfeit interest

Interest only paid out upon

maturity of tenure picked

channels

Interest is calculated based on daily balances

No maximum amount/ limit on savings target

alternative which

targeting individuals

looking to contribute

money on a regular

basis in order to reach

a financial goal on a

short or long term

basis & obtain a

higher return.

FIXED DEPOSIT

ACCOUNT

Funds are placed for a

fixed period

Early liquidations forfeit

interest earned

Attractive interest rates

Funds held can be used as cash cover for a

Credit facility that the Client may want to obtain

from the Bank

deposit receipts issued and delivered according

to specifications

Target clients with

surplus funds or clients

who wish to make

high returns on their

funds

CALL DEPOSIT

ACCOUNT

funds placed can be

recalled at the clients

request without interest

being forfeited

Attractive interest rates

deposit receipts issued and delivered according

to specifications

Target clients with

surplus funds or clients

who wish to make

high returns on their

funds

Tiered Interest rates for savings accounts

SAVINGS ACCOUNTS TIER RATE

Elite Savings Account

Aspire plus savings account

Aspire savings account

Instant Saver

Pebble Savings account

0-1,999 0%

2,000-49,999 1.0%

50,000-199,999 1.0%

200,000-499,999 1.5%

500,000-999,999 1.5%

1,000,000-4,999,999 2.0%

Wekeza savings account 5,000,000-9,999,999 2.5%

>10m 3.5%

Retail Insurance Detailed Description of the offer:

High Net Worth (Elite) Mass and Middle (Aspire plus and aspire)

1. Personal Accident – 100k

Customers with funded accounts are covered for free , the 100k

includes the below:

In case of accidental Death – 100k

In cases of accidental Permanent disability – 100k

Medical Reimbursement of up to 20k

Funeral Cover of up to 20k

2. Domestic Protection

Elite Customers with funded accounts are covered for free , the

100k includes the below

Home contents – 250k

Valuable portable Items – 100k

WIBA (domestic Servant)

Medical Insurance (IP only) – Kshs.200,000

1. Personal Accident, this is offered for free.

Mass and Middle income category of customers with funded

accounts are covered for free, the 100k includes the below:

• In case of accidental Death – 100k

• In cases of accidental Permanent disability – 100k

• Medical Reimbursement of up to 20k

• Funeral Cover of up to 20k

ASSET PRODUCTS-RETAIL

PRODUCT FEATURES/REQUIREMENTS BENEFITS TARGET MARKET

1. Personal Unsecured

Loans:

i) Regular banking

customer (Walk in

Customers)

Minimum net pay Kes 15,000

Minimum Amount Kes 50K with max

amount of up to Kes 5M

Payable for a certain determined

period of time to a maximum of 72

Flexible repayment

terms Competitive

interest rates.

Quick turnaround time

Top up on the loan

Available to individuals

for personal use, home

improvement etc.

ii) Work place

banking Customer

( customer brought

in on scheme)

months

It is given against your salary for

personal accounts

Interest based on Banks base

lending rate (KBRR + Bank Interest

Rate Spread )

Maximum DSR threshold of 50% of

net pay

Credit life available through chase

assurance

Loans targeted at Companies that

have an MOU with the bank.

Loans targeted at Companies that

have an MOU with the bank.

Income requirements, purpose of

loan, Interest rates, fees, max tenure,

max amount, and any other

conditions and exceptions are as

per approved scheme loan

agreement

Basis of any scheme

loan and terms of loan

is a fully executed

MOU between the

bank and an

appropriate employer.

Targets companies

looking to offer

additional employee

benefits at no extra

costs.

2. Salary advance

Salaried employees who receive

their salaries through Chase Bank for

at least 3 months.

Confirmed permanent employee

with a monthly income.

For Affluent and Middle Income:

Maximum of up to 1.5 times the net

salary or KES 100K for permanent

employees.

Allows access to

emergency cash

needs in between the

month.

Targets salaried

individuals looking to

access emergency

cash needs in between

the month before pay

day.

Maximum of up to 1 times the net or

KES 100K for contract employees.

(Contract must be expiring in not

less than 4 Months).

For MiddIe Income and Affluent,

salary advance to be repaid over a

period of 3 (three) months*.

For mass market up to a maximum

of 50% of Net payable. This is

repayable in 1 month. **The Facility

Shall be structured as a loan for the

Middle income (MI) and High net

worth individuals(HNI)**

3. Overdrafts

Available to customers earning a

Net salary of KES 70K and above.

For higher limits, customer can be

assessed up to 75% of their net salary

Nil monthly fees

Interest Will be calculated based on

the Amount accessed by the

Applicant/Employees

Short-term facilities

granted up to a period

of 12 months and are

renewable annually.

An overdraft facility

targets indivuals looking

to manage cash flow

gaps that might arise

due to timing mismatch

of cash inflows that may

have.

4. Mortgage

Available for a maximum period of

15 years

Interest charged at prevailing Bank

rate

Debt Service Ratio 50%

Lower rates for existing clients

. Available for:

Purchase of residential

houses only.

Facilitates acquisition of

personal property

5. Auto loans

Minimum net pay Kes 15,000

Max loan amount Kes 5,000,000

Maximum tenure of 60months for

This is a facility offered

by the bank to

facilitate acquisition of

Targets individuals

looking to purchase a

vehicle and spread the

new vehicles

Maximum tenure of 48 months for

old vehicles

Lower rates for existing clients

Competitive interest rates

Quick turnaround time

**Maximum 95% financing(New vehicles)**

**Maximum 80% financing (Used vehicles)**

**Commercial Vehicles are out of scope**

vehicles.

cost over a longer

period of time, which in

turn makes purchase of

the car much easier to

pay for.

SME, CORPORATE & INSTITUTIONAL BANKING

LIABILITY PRODUCTS

PRODUCT NAME PRODUCT FEATURES CUSTOMER BENEFITS TARGET SEGMENT

Baraka Collection Account

Baraka Interest Earning Account

• No minimum opening

balance

• No minimum operating

balance

• Available in multiple

currencies

• Pay As You Go – pay only

when you transact


balance


balance

• Available in KES only

• Pay As You Go – pay only

when you transact.

• Free Business Protection

Insurance for balances over

KES 50,000

• Access to ODs (Overdrafts)

• Online Banking available

• Access to Chase SME Hubs

• Access to SME Business Portal

• Business account where

interest is earned with

balances over KES 20,000

• Interest rate of 2%


• Access to Online Banking



Businesses with low transactions

per month.

Businesses with low transactions

per month.

Plus Current Account

Business Plus Current Account


balance


balance

• Monthly ledger fees Kes 350

for first 14 transactions.

• Per Transaction fee Kes 25

applied after 14 transactions



balance


balance


• Monthly ledger fees Kes 1250

for first 50 transactions.

• Per Transaction fee Kes 25

applied after 14 transactions


Insurance for Balances over

KES 50,000 through Chase

Assurance






Insurance for Balances over

KES 50,000 through Chase

Assurance





Businesses with an average

number of monthly transactions.

Businesses with a high number of

monthly transactions

ASSET PRODUCTS:

PRODUCT NAME REQUIREMENTS/FEATURES CUSTOMER BENEFITS TARGET SEGMENT

Unsecured SME Loans

Working Capital Loans

Overdrafts (ODs)

• Business must have operated

for more than 2 Years

• 12 Months banking history

• Borrower to move banking to

Chase Bank

• Borrower to provide

• Tenor of up to 24 Months

• Loan Amount of up to 3

Million if full banking is with

Chase Bank

• Attractive interest rates

Available to SMEs for Working

Capital and exceptional basis

Capex

Term Loans

statements from all their

bankers and declare all

borrowings

• Statements MUST be

confirmed

• Borrower must have a physical

business address where the

business operates from

• Relationship Manager to

provide a business verification

and client home visit report

• All stocks must be insured

against fire and burglary

• No unsecured loan will be

approved if there are other

facilities in arrears for more

than 30 Days

• Must not have more than 2

overdrawn positions in the last

4 Months

• Must not be listed in CRB

• Business performance

inspection to be done through

ad-hoc site visits (2 per Year)

with the report updated on

CQ

• Business must have operated

for more than 2 Years

• 6 Months banking history

• Borrower encouraged to

move banking to Chase

• Borrower to provide

statements from all their

bankers and declare all

borrowings

• Statements MUST be

confirmed

• Lower rates for existing clients

• Increase in Loan Amount (up

to 100 Million)

• Larger Loan Amounts of up to

1 Billion depending on

business size

• Working Capital Loans

approved in 48 Hours


Available to SMEs and Corporates,

mainly to finance Working Capital

and Capex

Asset Financing

Medical Credit Fund (MCF)

• Borrower must have a physical

business address where the

business operates from

• Relationship Manager to

provide a business verification

and client home visit report

• Projected cash flows as

supported by contracts and

evidence of expected source

of payment must show ability

to service loan installments.

• For construction loans,

Borrower is to provide land for

construction as well as 20% of

total project cost with a

maximum tenor of 15 Years

• The borrower should be in that

particular business for a

minimum of 4 Years.

• The cash flow projections

should be broken down to the

individual projected cash flows

from every vehicle or

machinery over the facility

term.

• Onward lending to the

Medical Sector with

competitive loans of up to USD

350,000


• Safecare Programme which

involves technical services

offered to all medical

facilities inclusive of

certification

SME and Corporate

SME and Corporate

CARDS

PRODUCT

FEATURES

BENEFITS Target market

Debit Cards

Visa debit card

MasterCard

debit card

New card Kes 400

Card Renewal Kes 300

Chase Bank ATM fees Kes 30

Pesa Point ATM fees Kes 70

Non Chase ATMs Kes 250

New card Kes 400

Card Renewal Kes 300

Chase Bank ATM fees Kes 30

Pesa Point ATM fees Kes 70

Non Chase ATMs Kes 250

Acceptability in millions of VISA

ATM or POS worldwide

Secured way of carrying cash

Convenience and faster way of

making a purchase

Convenience of using card for

online purchases

Secured way of paying online





making a purchase

Convenience of using card for

online purchases


Retail Individual customers

HNI/Mass and middle Retail.

Individual customers

HNI/Mass and middle

income earners income

earners

Prepaid Cards

Naivas Visa

Prepaid Card

Loyalty card in

Partnership with

Naivas chain of

supermarkets.

Traveler

MasterCard

(available in

USD & KES)

Available in Kes only

New card if free

Card replacement Kes 300

Free loading of the card through

Mobile money or Chase Bank

Can be used at any VISA ATM or POS

ATM transactions Kes 30

KES Traveller card can be used for

online transactions

Can be used at all MasterCard

outlets worldwide

Initial Purchase at Kes 1,000/-

Subsequent top-ups at Kes. 200/-

ATM Fee Kes 250 or $3





making a purchase

Earn redeemable points when you

shop at naivas


Flexibility to top up your travel

budget in either KES or USD

Saves you having to carry around

wads of cash when you’re on

holiday, safety for your money

Helps you budget since you set the

limit you wish to use

Discounted travel insurance and

the added benefit of online

shopping.

Open to all customers who

shop regularly at Naivas.

Individuals who travel often

and do not want to carrying

physical cash with them.

PRODUCT FEATURES /FEES BENEFITS TARGET GROUP REQUIREMENTS

Credit Cards

1. VISA GOLD

Minimum credit limit of

Kes 20,000

Description Fee

Joining Free

Annual Kes 3,000

1 point for every Kes 500

spent

Up to 50 days interest free

credit on your purchases

Flexible repayment options

for as low as 10% of your

Mass market

product. Salaried

individuals

earning between

Kes 20k or business

with credit

Salaried customers/ individuals with

regular rental income

Filled application form

1 month latest pay slip (provide

2 if salary differs from bank

statement)/ lease agreement

Supplementary

annual fee

Free

Interest rate 3.0%

p.m.

Cash advance 6.0%

Over limit fee 1,000

Forex mark up 3.5%

Late payment 1,000

outstanding bill

Up to 50% of your credit

limit in cash from any ATM

displaying a VISA logo

Free SMS alerts

Free e-statements

turnovers of Kes

100k monthly

for landlords

Copy of ID

Latest 3 months bank

statements-original / certified

copies

Additional;

For employees on commission

only- provide latest 6 months

bank statements and 3 months’

pay-slips.

For contract employees only -

provide certified true copy of

current employment contract.

NB: The contract period should

minimum1 year with at least 6

months remaining on the

contract. If they are serving the

1st year contract, then they

should not be on probation as

stipulated on contract

For expatriates-

o Valid passport and

Valid work permit

o Certified true copy of

current employment

contract letter

o Letter from the

employer undertaking

to inform the bank at

2. MASTERCARD

WORLD

REWARDS

CARD

•Minimum credit limit of Kes

200,000

Description Fee

Joining Free

Annual Kes 7,000

Supplementary

annual fee

Free

Interest rate 3.0% p.m

Cash advance 6.0%

Over limit fee 2,500

Forex mark up 3.5%

Late payment 2,000

1 Shilling back in world

rewards for every Kes 100

you spend on your credit

card redeemable for free

flights, hotel, card rentals

Exclusive collection of

MasterCard offers and

experiences including;

global discounts, purchase

protection and extended

warranty and much more.

Visit

www.pricelessafrica.com

for more details

Flexible repayment options

for as low as 10% of your

outstanding bill

Up to 50% of your credit

limit in cash from any ATM

displaying a VISA logo

Free SMS alerts

Free e-statements

High Net worth

individual

Salaried

individuals

earning Kes 150k

and above

Or business

individuals with

average credit

turnovers of Kes

270,000 monthly

http://www.pricelessafrica.com/

least 3 months before

they leave the

company/country for

good

o Must be banking with

Chase

NB: For expatriate customers,

maximum credit limit is 200k. The

customers will also be required to

have a chase account with the

direct debit at 50%

Sole proprietors

Filled in Application form


statements for Chase

Customers and 6 months for

non-Chase Customers

Certificate of Registration or

Certificate of practice –

professionals or local authority

trading license

KRA PIN

Utility Bill/ Current Lease

Agreement/ Local Authority

License

Partnerships


Copy of ID


statements for Chase

Customers and 6 months for

non-Chase Customers

Certificate of Registration

Partnership Deed/ Partnership

Agreement

Request letter (minutes) from

the partnership stating intent to

take a credit card and the

limits to be assigned to stated

individuals

KRA PIN for partnership and

applicants



License

Companies and Corporates


Copy of ID


statements for both Chase and

non-Chase Customers

Certificate of Incorporation,

Memorandum and Articles of

Association

Board resolution stating the

companies intent to take a

credit card and the limits to be

assigned to stated individuals

KRA PIN for company and

applicants



License

OTHER SERVICES

MONEY TRANSFER SERVICES

PRODUCT NAME PRODUCT FEATURES CUSTOMER BENEFITS TARGET SEGMENT

Safaricom Retail M-Pesa

Safaricom Super Agency

Safaricom bulk payment

Western Union

This service is an over the

counter service open to both

Chase Bank customers and

non-customers.

This is a product which enables

the bank to offer float to

Safaricom agents at a

commission.

This is a service for the

payment of bulk recipients

through M-Pesa.

This service

involves transfer of money fro

m one location to another

location globally.

Individuals deposit money at

one of the Western Union

agents globally and we can

release the funds to the

beneficiary locally at any of

our branches.

This service is also applicable

to outbound money transfers

Accessibility of their funds

with ease, whether

customers or non-customers

Enables the agent to run his

M-Pesa agency smoothly as

they are guaranteed of

float, especially with our

extended banking hours

Enables the client to pay

salaries or wages to a

number of people hassle

free

Fast way to transfer cash with

peace of mind.

All our customers

Safaricom agents who

require float could be

customers or non-customers.

Targeted at clients who pay

large numbers of workers but

low values

Customers or non-chase

customers looking to remit

money faster to any part of

the world globally.

Instant Cash

X-press money services

MoneyGram International Money

Transfer

This is a funds transfer product

widely used in the middle-east.

The sender determines from

which agent the collection of

the funds will be done

This is a funds transfer product

widely used in the middle-east.

The difference between this

and instant cash is the recipient

determines from which agent

the collection of the funds will

be done

This service

involves transfer of money from

one location to another

location globally.

Individuals deposit money at

one of the MoneyGram agents

globally and we (chase bank)

can release the funds to the

beneficiary here locally.

This service is also applicable to

outbound money transfer

Funds sent and/or received

in a fast and efficient way

for the client

Peace of mind for the

sender as he determines

where the funds will be

collected, giving them more

control

Funds sent and/or received

in a fast and efficient way for

the client

Peace of mind for the

recipient as (s)he determines

where to collect the funds

will be collected. Any X-press

money outlet.

Fast way to transfer cash with

peace of mind.




the world globally.




the world globally.




the world globally.

ALTERNATE CHANNELS

DIGITAL CHANNEL S

PRODUCT FEATURES BENEFITS TARGET MARKET

1. Mfukoni- Mobile app: • Airtime: Top-up your Secure Mobile Banking Our Retail-Individual customers or

Accessed by downloading Chase

Mfukoni App or Dialing *275#

airtime for FREE

(Safaricom/Airtel/Yu/Oran

ge). Buy for self or other.

• M-PESA: Bank to M-PESA

and M-PESA to Bank

transfers with limits of up to

KES 70,000. Send from

bank account to own M-

PESA or other M-PESA.

• Bill payments straight from

your bank account

(DSTV/Zuku/GoTv/KPLC

pre-paid)

• Balance enquiry and view

statements.

• Funds transfer both

domestic and

international to any bank

(With limits of up to KES.

500,000)

• Cheque book request,

cheque deposit, cheque

status and stop cheque

• Change your PIN

application that gives you 24hrs

control of your bank account

sole appropriators.

2. Online banking

Accessed by logging in into

www.chasebank.co.ke/onlinebanking

• Funds transfers

• Pay bills: KPLC pre-paid,

DSTV, GotV, Zuku , JTL, KRA

Tax, Credit card bill

• Airtime: Top-up your

airtime for FREE (Safaricom

/Airtel/Yu/Orange). Buy for

self or others.

• Standing orders

• Account to M-PESA

transfers (self and to

others)

• View, download and print

for free statements

Secure online Banking platform

that gives you 24hrs control of

your bank account

All our customers Retail,

corporate and SME clients.

http://www.chasebank.co.ke/onlinebanking

• Loan and insurance

request

• Credit card and debit

card request

• Cheque status, cheque

book request.

• Request for bankers

Cheque.

Product Manual

Documents

Transcript of Product Manual