Deposit Account

Why You Need A Deposit Account

A Deposit Account is a pivotal element in your journey towards financial stability and growth when joining a savings and credit cooperative like HACO Sacco. It functions as a savings multiplier, allowing you to systematically grow your savings over time. What sets it apart is that your money doesn’t merely rest; it earns interest, bolstering your savings with passive income.

Deposit Account doubles as a valuable asset, serving as collateral for loans when needed, making it easier to secure financial assistance. Beyond this, it acts as a financial safety net, providing security during unexpected expenses or emergencies. With regular contributions, it cultivates disciplined saving habits, strengthening your financial discipline. Additionally, maintaining a Deposit Account enhances your creditworthiness, opening doors to higher loan amounts and more favorable loan terms.

What It Is:

Grow your savings with competitive interest rates annually and use your deposit as loan security when needed.

Joining Requirements:

Membership in HACCO Sacco is necessary, with a minimum monthly contribution of KES 1,500.

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