This product is to enable members have 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% |
|
181+ |
11% |
Other terms and conditions;
- This is a voluntary savings scheme
- Members are allowed to take off part / full of their savings
- The minimum amount you can get is Kes. 10,000
- The minimum savings amount is Kes. 12,000
- Funds will be refunded within seven working days on receipt of notice
- This amount can be used as a security for loan(s)
- A member will not earn interest if he/she makes a notice before the maturity date.
