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.
- These are the monthly regular deposits that members make to create a pool from where they can borrow from
- The deposits help members secure loans at 3 times the total amount saved and guarantee other members’ loans
- Minimum monthly contribution is Kes 2,000
- Refunds are processed within 60 days after a written notice of withdrawal is received
- Refunds will only be effected if a member has cleared ALL their loan obligations and discharged any guarantees attached to the deposits
- 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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Partners