Mlimi is an account that has been designed for all farmers. It is an account that will help farmers to receive/deposit agricultural produce proceeds and to save their money for future use.
Benefits to the Farmer
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The account will help farmers to understand the banking world while at the same time realize their financial dreams.
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Farmers will be able to save part of their farm proceeds for future use.
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In as far as clubs are concerned individual farmers will be able to open theirown accounts.
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Yearly account statements will be availed to the customers.
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Notification to customers on produce proceeds credited to their accounts will be via MO626 (SMS)..
Target Market
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Clubs and individual farmers.
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Small to medium estate owners.
Terms and Conditions
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All registered individuals clubs and small to medium estate owners (e.g. tobacco growers) will be eligible to apply for the account. Individual club members will also be eligible.
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Account opening minimum balance is K200.00.
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Individual club members details to be authenticated by either club main committee members or association e.g. NASFAM.
Individual Farmers
Individual farmers will be identified by any of the following in line with the Bank’s KYC identification procedures:-
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Auction Holdings Identity card duly authenticated by Auction Holdings Ltd.
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A letter from a club having an account with NBM Service Centres or other banks.
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A letter from the Association to which they belong.
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Any legally recognised identity e.g. Driver’s Licence, Passport, Voter Registration Certificate, etc.
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Clubs will be identified by any of the following after submission of the club’s constitution/registration document for KYC procedures:-
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Auction Holdings identity card duly authenticated by Auction Holdings Ltd.
A letter from the Association to which they belong.