Five Reasons Kenyans Are Switching to I&M Bank
I&M Bank Kenya has recorded an impressive 270 percent growth in its customer base since December 2023. This growth reflects a clear shift among Kenyans who now prioritize reliability, transparency, and value in their banking experience. I&M has become the trusted choice for people who want a bank that rewards loyalty and delivers on its promises.
1. The Bank That Pays When It Fails
I&M Bank is the only financial institution in Kenya offering a proactive service guarantee that automatically compensates customers when certain transactions fail. If an international SWIFT transfer does not go through, customers receive KES 1,250 instantly. Failed local RTGS transfers earn KES 500. There are no claims to file or waiting periods. The refund is processed automatically. It is a system built on accountability and trust, values that continue to strengthen I&M Bank’s relationship with its growing customer base.
2. Zero Mobile Money Transfer Fees
Since April 2024, I&M Bank has offered zero fees for transfers between bank accounts and mobile wallets such as M-PESA and Airtel Money. This has been a major relief for individuals and small businesses that rely heavily on mobile transactions. Many entrepreneurs credit this change, along with reduced lending rates, for helping them save money, grow their businesses, and access affordable credit.
3. Banking Where You Actually Are
In early 2025, I&M Bank opened nine new branches, expanding its footprint to 61 locations across 21 counties, with plans to reach all 47 counties by 2026. Some of the new branches are made from repurposed shipping containers, an environmentally conscious way to bring financial services closer to the people. The branches are strategically located to serve key sectors such as agribusiness in Embu and Narok, cross-border trade in Busia and industrial clients in Tatu City.
4. Digital Onboarding That Works
Through the I & M On the Go app, customers can open and manage their accounts entirely online. The app supports instant payments, fund transfers, balance checks and card management, making it easy for users to bank from anywhere. Today, 95 percent of I & M customers are digitally active and 81 percent report high satisfaction with digital banking services. The platform has become a reliable and convenient tool for modern banking in Kenya.
5. Savings That Beat Inflation and Reward You
The I & M Savers Account offers up to 12 percent annual interest, paid monthly, with unlimited deposits and withdrawals. It provides an attractive way for Kenyans to grow their money while maintaining flexibility and control.
The ongoing Shinda Mamili campaign has made saving even more exciting. The recent announcement of the second Shinda Mamili winner has inspired more customers to keep saving, knowing that their consistency can lead to both financial growth and life-changing rewards. Every deposit in the I & M Savers Account counts as a chance to win, proving that disciplined saving can truly pay off.
I & M Bank continues to champion a strong saving culture in Kenya, encouraging customers to build long-term financial security while enjoying real, tangible rewards. Saving with I & M is not just about interest. It is about being part of a community that celebrates consistency and trust.
To top it off, I & M Bank won 10 out of 14 categories at the 2025 Think Business Banking Awards. The bank’s profit rose 24 percent to KES 14.1 billion in the third quarter of 2024, while new customer acquisition increased by 134 percent year on year. These numbers reflect what happens when a bank invests in its people and its people invest back.
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