Savings Accounts

SHARES

This is a portion of member`s equity in the Sacco

  • • Individuals Kes. 25,000 min.
  • • Groups Kes. 25,000 min.
  • • Corporate Kes. 50,000 min.
  • • Earns Dividends annually
  • • Dividends shall be automatically capitalized for any member holding less than the Minimum Share Capital
  • • Non Refundable (Can only be transferred to an existing member) ALPHA
ALPHA DEPOSIT

Continuous monthly savings by members

  • Individuals Kes. 25,000 min.
    • Minimum Monthly contributions; Individuals Kes. 1,000- , Groups Kes. 5,000/- , Corporates Kes 10,000/-
    • Earns interest annually
    • Interest Rebates shall be automatically capitalized for any member holding less than the Minimum Share Capital
    • It’s the loans multiplier & allows members to access deposit based loans
    • Can be contributed through standing order, check off, mobile banking, bank transfer or direct deposit
    • Can only be accessed upon membership withdrawal
PRIME ACCOUNT

This is a Transactional account like a bank’s current account.

  • Allow salary processing, cheque clearing, loan, External & Internal transfers
  • No ledger fees or monthly charges · Minimum Kes 500
  • Amounts above Kes.15,000/- Earns an interest of 2%
  • Maximum of Kes. 400,000- per day over the counter
  • Funds access channels includes; SACCO LINK ATMs, Stima Sacco check book and Mobile banking
  • Statements can be viewed online via the web portal
  • Dormancy after 6 months
MSINGI BORA ACCOUNT

Saving plan for children to help members accumulate savings for paying school fees

  • Minimum monthly savings of Kes. 500/-
  • Account minimum balance of Kes.500/-
  • Contract term between 5 – 18 Years
  • Projected savings insured against the principle member death and permanent disability
  • • After 3 years member qualifies for a self-guarantee school fees loan of up to 75% of the Msingi bora savings
  • • Interest of 5% p.a. paid at the end of the contract
  • • Premature termination of the contract;
  • Forfeiting the interest earned and pay 2% early withdrawal charges
  • Refund all premiums paid to the insurance
  • Dormancy after 6 months
JUNIOR STAR

Children short term savings

  • Minimum monthly savings of kes. 500/-
  • Minimum account balance Kes 500/-
  • Withdrawal can be done once after every 4 months
  • • Early withdrawal charges: 500/- for amounts less than 10,000
  • 5% for amounts greater than 10,000/ or capped at 2000/- whichever is lesser
  • Not to be considered when the amount is being utilised to pay off an outstanding loan.
  • Not to be considered when the amount is being transferred internally to any of the members Savings Account with the exemption of Prime Account.
  • No ledger fees or monthly charges · Minimum monthly balance 500/- · Dormancy after 6 months
TWIGA SAVINGS ACCOUNT

This is a portion of member`s equity in the Sacco

  • Minimum monthly savings Kes.1000/-
  • Balance above 6,000/- earn interest of 3% p.a
  • No monthly charges
  • First withdrawal can be done after 6 months, after which can be made every 3 months
  • Early withdrawal charges are as follows; 500/- for amounts less than 10,000.
  • 5% for amounts greater than 10,000/ or capped at 2000/- whichever is lesser.
  • Not to be considered when the amount is being utilised to pay off an outstanding loan.
  • Not to be considered when the amount is being transferred internally to any of the members Savings Account with the exemption of Prime Account.
  • Minimum monthly balance 500/-
  • Dormancy after 6 months
FIXED DEPOSITE RATES

latest FDR rates as at Quater 1 2019

Amount (Kshs)

CALL

3MONTHS

6MONTHS

12MONTHS

5000-49999

5.00%

5.00%

5.00%

5.00%

50,000-399,999

5.25%

5.25%

5.25%

5.50%

400,000-999,999

5.50%

5.50%

5.50%

6.00%

1m-2,999,999

5.75%

5.75%

6.00%

6.50%

3m-4,999,999

6.00%

6.00%

6.50%

7.00%

5m-9,999,999

7.00%

6.25%

7.00%

7.50%

10m-24.9m

7.00%

6.50%

7.50%

8.00%

25m-49.9m

7.00%

7.50%

8.00%

8.50%

50m-99.9m

7.00%

8.00%

8.50%

8.75%

100m and above

7.00%

8.50%

8.75%

9.00%