Standard Chartered Bank will downgrade its Kenyan customers from its affluent banking status, known as Priority Banking, if they fail to maintain a minimum account balance of Sh4 million, deposit Sh4 million monthly or apply for a mortgage worth at least Sh12 million, as it raises the bar for its customers to enjoy one of its most prestigious retail banking product.
The lender has given its customers the alternative of either investing Sh4 million or having a combined monthly average of Sh4 million in deposits and investments to continue enjoying the priority services.
