This product is to enable members have withdrawable savings with the SACCO and in return earn interest based on the period the savings are held by the SACCO. The returns on the funds shall be applied as follows:
|
PERIOD ( DAYS) |
RETURN (PER ANNUM) |
|
60 |
5% |
|
90 |
8% |
|
120 |
9% |
|
180 |
10% |
|
Over 180 |
11% |
Other terms and conditions;
- This is a voluntary savings scheme
- Members are allowed to withdraw part / full of their savings
- The minimum withdrawable amount is Kes. 10,000
- The minimum savings amount is Kes. 12,000
- Funds will be refunded within seven working days on receipt of withdrawal notice
- This amount can be used as a security for loan(s)
- A member will not earn interest if he/she withdraws before the maturity date.
