Sacco Deposit Account

Building your savings, earn interest and achieve your development goals through our affordable Sacco loans.

The Sacco Deposit account is the Sacco core saving account that is mandatory for every Sacco member. It is the main BOSA savings account. This account encourages members to build their long-term savings in the Sacco through continuous monthly savings. The Sacco Deposit account is according to Sacco by-laws, not easily withdrawable unless one is exiting membership.

Requirements

– Complete the Sacco membership application form

– Upload supporting documents: Kenyan ID or passport and recent passport picture.

– Maintain a minimum monthly contribution of Kshs 10,000

Benefits of Main savings Account:

1. Build long-term Savings for future use.

2. Use as Loan collateral

3. Loan entitlement of up to 4-5 times your savings.

4. Earn annual interest based on Sacco’s profitability.

*NOTE: Closing the account requires a minimum of sixty days’ notice communicated to the secretary or the credit committee. A processing fee of Kshs 1,000 is chargeable.