High-Yield Savings Accounts
- What it is: Special savings accounts offering better interest rates
- Risk level: Very low (insured by KDIC up to KSh 500,000)
- Typical return: 5-7% annually
- Key consideration: May require minimum balances or limit withdrawals
- Real example: KSh 10,000 for one year at 6% = KSh 600 in interest (KSh 10,600 total)
- Where to get it: Most Kenyan banks and SACCOs
- Minimum to start: Usually KSh 1,000-10,000