Members Fixed Deposit Account

Term Deposit Account

TERM DEPOSIT ACCOUNT

Member contracts to invest for a period of time upon which interest is paid. It offers flexible investment periods and earns you interest, which you are then paid together with the principal amount invested upon maturity.

Features and Benefits

Minimum opening and operating balance of kes 5000
Period between 3- 12 months.
Can be rolled over after the Fixed term ends.
member can have as many Term Deposit accounts as they wish.
Competitive interest rates
No administration fees will be charged
The funds in the deposit account can be transferred to Sacco Main savings and the member immediately qualifies for a loan of up to four/five times so long they have been making minimum contributions to Main savings.
Competitive Interest Rates
The principal and interest earned is with-drawable upon maturity of contract
Interest forfeiture if contract is broken before maturity of agreed period

Minimum Share capital offer

During our several meetings, we have listened to so many people who wish to join the Sacco and the directors have resolved to reduce the minimum share requirement for those who register within the next 3 months to 5 share @ kes 10,000 =Kes 50,000. balance to be paid at kes 5000 per month. However, to qualify for the Benevolent and Welfare Fund, a member must have paid for 2 shares (kes.20,000). The maximum shares limit for a member is 1000 shares @kes10,000.

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