BOSA (Back Office Services Accounts) savings products for members
Sacco Deposit
Members Deposits provides a solution for members seeking to save and create security for Loans.
- Individual membership – minimum monthly contribution is Ksh.10,000
- Corporate & Chama membership – minimum monthly contribution is Ksh.20,000
- Earn interest at the end of every financial year
- Act as security for the loan
- Sacco deposit is non-withdrawable unless a member is leaving the sacco or seeking to purchase more sacco shares.
Sacco shares
Shares are an investment in terms of owning a part of the Sacco as a shareholder who is entitled to a dividend at the end of the financial year
Product Features:
- Individual membership –The minimum shares that a Full member should acquire are 5 share @ Ksh.10,000 per share. ie. in total Kes 50,000. These can be paid for at registration or in equal 10 monthly instalment of kes 5,000 per month.
- Corporate & Chama membership – The minimum shares for Full membership is 10 share @ Ksh.10,000 per share. ie. in total Kes 100,000. These can be paid for at registration or in equal 10 monthly instalment of kes 10,000 per month.
- Earn dividends at the end of financial year
- Non-refundable upon exit from Sacco but can be transfered to another member
- shares can not be used as security to guarantee a loan taken from the sacco.