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Non-Withdrawable Deposits

Non-Withdrawable Deposits

This enables members pool their savings and lend to one another. The Sacco uses the money they earn to improve services and reward its members.

  1. These are the monthly regular deposits that members make to create a pool from where they can borrow from
  2. The deposits help members secure loans at 3 times the total amount saved and guarantee other members’ loans
  3. Minimum monthly contribution is Kes 2,000
  4. Refunds are processed within 60 days after a written notice of withdrawal is received
  5. Refunds will only be effected if a member has cleared ALL their loan obligations and discharged any guarantees attached to the deposits
  6. A member who maintains an active deposits account is entitled to rebates at the end of each financial year determined by Sacco performance
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