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Module 4 · Topic 3The Claims Process for Depositors
What You Need to Do
If your bank fails, here is exactly what will happen and what you need to do as a depositor:
- 1. KDIC makes a public announcement through national media and the KDIC website
- 2. The announcement includes the claims portal link, required documents, and the deadline
- 3. You submit your claim online via the KDIC e-Services portal or in person at a designated KDIC office
- 4. You provide: valid national ID or passport, and your account details at the failed institution
- 5. KDIC verifies your claim against the institution's deposit records
- 6. If verified, KDIC pays you up to KES 500,000 — as promptly as possible
You do not need a lawyer or agent to submit a claim. The process is designed to be straightforward for any ordinary depositor.
What About Deposits Above KES 500,000?
If your total deposits at the failed institution exceed KES 500,000, the amount above the limit becomes an unsecured claim against the institution's remaining assets. KDIC's liquidation process attempts to recover and distribute these assets to creditors — but full recovery is not guaranteed.