SAVINGS PRODUCTS
Savings Accounts provide opportunities to individuals to accumulate savings and deposits regularly.
Before opening a savings account, ones shall have been admitted as a member of the society. Monthly Contributions can be done through check off, standing orders, paybill, direct deposits, or bank transfers.
1. Shares Account
- Minimum Holding Kes. 15,000.
- Earns Dividends annually.
- Non-Refundable (Can only be transferred to an existing member).
2. Deposit Account
- Minimum Monthly contributions Kes. 1,500.
- Earns interest annually.
- It’s the loans multiplier & allows members to access deposit as loans security.
- Can only be accessed upon membership withdrawal.
3. Christmas Savings
- Minimum monthly savings of Kes. 500.
- Contributions can be done daily, weekly or monthly.
LOAN PRODUCTS
1. Development Loan
- Repayment period 48 months.
- Interest rate 13% pa reducing balance.
- Maximum amount Kshs. 2,500,000.
- Loan Amount is 3 times of the deposit.
2. Emergency Loan
- Repayment period 12 months.
- Interest rate 13% pa reducing balance.
- Approved within 2 days (48hrs).
- Maximum amount Kshs. 250,000.
- Loan Amount is 3 times of the deposit.
3. Education Loans
- Repayment period 12 months.
- Interest rate 13% pa reducing balance.
- Maximum amount Kshs. 400,000.
- Loan Amount is 3 times of the deposit.
4. Bridging Loan
- Repayment Period 36 months.
- Interest rate 13% pa reducing balance.
- Maximum amount Kshs.1, 200, 000.
- Loan Amount is 3 times of the deposit.
5. Capital Loan
- Repayment period 60 months.
- Interest rate 13% pa reducing balance.
- Maximum amount Ksh. 3,000,000.
- Loan Amount is 3 times of the deposit.
5. Special Loan Products
i. Repayment period 12 months.
ii. Loans are appraised as any other loans.
iii. Interest rate 13% pa reducing balance.
6. Home Appliances Loan
- Repayment period 18 months.
- Loans are appraised as any other loans.
- Interest rate 13% pa reducing balance.
7. BIMA Loan
- Repayment period 10 months.
- Loans are appraised as any other loans.
- Interest rate 8% pa reducing balance.
8. Salary Advance
- Mid-month Cash advance payable in full at end of same month through check- off.
- Interest - 5% per month.
9. Asset Financing & Development Loan Product
- Repayment period 72 months.
- Interest rate 13% - 15% pa reducing balance.
- Maximum amount Ksh. 4,000,000.
- Loan Amount is 4 times of the deposit.