Why Many Consider I&M Bank the Best Bank for Business and Savings in Kenya
In Kenya’s fast-growing financial sector, choosing the right bank for business and savings is one of the most important decisions for entrepreneurs, SMEs, and individuals. Among the many banks operating in the country, I&M Bank Kenya has consistently built a strong reputation as a reliable, customer-focused, and business-friendly financial institution.
From SMEs and startups to professionals and corporate clients, many Kenyans now consider I&M Bank one of the best banks for business and savings. But what exactly makes it stand out in a competitive market dominated by banks like Equity, KCB, and Co-operative Bank?
We gathered information from a discussion on Reddit.com by Kenyans on “The Best Bank in Kenya,” and a large percentage preferred using I&M Bank. Here are the responses they gave, and our team provided a clear explanation behind them.
1. They Have Bank-to-M-Pesa Free Transactions
A user by the name No_Poet_187 said, “I&M is nice for mobile banking; bank-to-M-Pesa transactions are free too (not sure if it is the same for other banks).”
Brilliant_Choices said, “You can just tell from my conversation 😅. I always choose I&M Bank. I have DTB, but they are only good if you work with high-value accounts and transactions. But they would be second on my list. I&M and DTB, in my opinion, have mastered customer experience and speedy feedback integration. They will always try to help you find a solution before following their institutional policies that may cause you financial harm. For example, I&M and DTB will rarely auction you when you default on a loan. They will give you time and support to try and get you back on your feet so you can be able to repay any loans. This is especially possible when you are on good terms with your branch. My cheat code is to always pass by the branch manager’s office every time I am at the branch, have a chat, just create rapport, catch up, and discuss any opportunities that would benefit both of us (the bank and me).”
Explaining this:
The bank launched “Ni Sare Kabisa,” a campaign that allows customers to transfer money from their bank to not only M-Pesa but also Airtel Money with zero transaction fees, regardless of the amount.
Standard mobile money and interbank transfers often have high withdrawal and sending fees; some even charge SMS charges. By waiving these charges, business owners save significantly on their transaction costs.
This is highly beneficial to small business owners such as Mama Mboga and boda boda operators, where even KSh 50 or KSh 100 saved per transaction makes a real difference.
2. They Have a Very Nice OTG Platform
Sharon said, “They have a very nice OTG platform, and their charges are virtually negligible.”
Explaining this:
Advanced Dashboard and Powerful Payments
The I&M On The Go (OTG) platform is highly regarded because it combines a clean, modern user interface with advanced financial features that go far beyond standard mobile banking.
It provides a full portfolio overview, allowing users to easily track their entire financial footprint, including loans, savings, and deposits, all at a single glance.
Users can securely hide or reveal their account balances with a single tap, ensuring privacy when accessing the app in public spaces.
The interface remains consistent whether accessed via Android, iOS, or a web browser, providing a seamless cross-platform experience.
The app is integrated with M-Pesa, meaning users do not need to use SIM toolkit services. You can input M-Pesa PayBill and Till numbers directly inside the OTG platform.
Through the app, users can pay KPLC bills, buy airtime, pay Kenya Revenue Authority (KRA) taxes, and schedule automatic standing orders for recurring monthly payments.
Ultimate Control and Security
If you misplace your debit or credit card, you can instantly lock or temporarily block it through the I&M OTG security menu to prevent fraud, and later unblock it without calling customer support.
Transactions are protected using multi-factor security systems, including one-time passwords (OTPs), biometrics (fingerprint/Face ID), and authentication tools such as Google Authenticator.
3. Good Customer Service
Peter said, “I&M Bank should be in the top 5. Very good customer experience, easy access to banking products like secured and unsecured loans, non-predatory repayment structure on loans, insurance, and investment products, etc. Also, it gets even better when you develop a good relationship with your branch. They listen to your problems and offer help where necessary. They offer quite a lot of very nice investment products if you have money to park.”
Explaining this:
I&M Bank is highly rated for customer service because it offers 24/7 dedicated support across multiple channels, ensuring customers receive fast assistance without necessarily visiting a branch.
Users can resolve account issues instantly by contacting their verified WhatsApp support number, making it convenient for customers on the move.
The bank also actively monitors account activity and may promptly call or notify customers if suspicious transactions or login attempts are detected.
Other Recommended Banks
The author of the question said, “For me, it is KCB followed by Stanbic; others on recommendation are StanChart and ABSA.”
He then explained:
KCB
It is among the best in service, branch network, and coverage. Its services are strong, and it is very transparent about charges.
Stanbic
It has very friendly and professional staff. They are known for excellent communication with clients.
Another user said, “I have been banking with DTB for almost 5 years now. It’s actually a good bank. Few data breaches, effective services. They make your life easy.”
