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What’s covered?

KDIC is mandated to provide insurance cover for deposit accounts up to a maximum of Ksh. 500,000 per depositor of a member institution. Where a depositor has more than one account in an institution, all the accounts are consolidated and paid up to a maximum insured sum of Ksh.500,000.

Accounts covered include:

  • Current Accounts
  • Savings Accounts
  • Fixed Deposit Accounts
  • Foreign Currency Deposits

How to claim for your deposits

Depositors are required to fill a proof of debt claim form which can be accessed from the KDIC website.

  • Duration of payment is two years from date of commencement of the payment.
  • Liabilities owed to the institution shall be offset up to the extent of the insured deposit.

How a depositor recovers deposits in excess of the insured amount of KSh.500,000

A deposit in excess of Ksh.500,000 is paid as liquidation dividend after the liquidator has recovered sufficient funds from the sale of the institution’s assets and recovery of debts.

In the unlikely event of a failure, KDIC guarantees payment of up to a maximum of Ksh.500,000 (USD 5000) per depositor irrespective of the number of deposit accounts held in the institution. Depositors should obtain, fill and lodge claim forms issued at the KDIC offices, UAP Old Mutual Towers, 17 th Floor, Monday to Friday between 9.00 a.m. and 3.00 p.m. The claim form may also be downloaded from the download section on our website,

The claim form should specify the combined value of all accounts held by the depositor in the institution under liquidation and claim forms for account balances exceeding Ksh.500,000.00 should be attested by a Commissioner of Oaths.

The depositor should attach the following documents to the claim form:


Individual depositors

1. Copy of ID or Passport

2. Account statement, if any

3. Original Fixed Deposit Receipt in case of a time/fixed deposit

4. Passbook or cheque book or ATM card

5. Any other proof of claim


Companies, Registered Business Firms and other corporations

1. Copy of certificate of incorporation.

2. Letter of Authority to make the claim signed by the authorized signatories as per the mandates held by the institution.

3. Original Fixed Deposit Receipt in case of a time/fixed deposit

4. Passbook or cheque book or ATM card

5. Any other proof of claim

As the “Liquidator” of the failed bank, KDIC pays insured deposits up to the insured limit. After paying the insured deposits, KDIC assumes the task of recoveries, realizing viable assets of the troubled bank and settling its debts, including claims for the excess of the insured limit.