SAVINGS PRODUCT
Cultivate the culture of saving.......
Under savings, we have the Share capital currently at Kshs. 8,000 (which is 400 shares at Kshs. 20) and deposits.
This earns Dividends and interest at the end of every financial year. The interest rates depend on the performance of the year.
The share capital is non refundable but transferable. Currently, the minimum contribution is Kshs. 2,000. One can also boost their shares by depositing in the Sacco bank account.
Holiday saving
Account holders make deposits into this account for a minimum period of 12 months before any withdrawal can be done. The minimum balance is KES 500 and the minimum interest earning balance is KES 2,000, the interest earned is 4% p.a.
Junior Savings
This account is available to member’s children below the age of 18 years. The minimum balance is KES 500 and the minimum interest earning balance is KES 2,000. The interest earned is 4% p.a. This account helps you nurture the savings culture at a petite/tender age.
Non-W Deposits
The minimum Non-W deposit contribution is currently Kshs. 2,000 per month. The deposits attract interest on a pro rata basis only for those who have contributed 6 months consecutively before the year end.