SAVINGS SCHEME
A Scheme designed to encourage savings through small but regular deposits.
FIXED AMANA
SIT BACK AND LET US GROW YOUR MONEY.
Deposit a minimum of kes 10,000 for a fixed term and watch your money grow at amazing interest rates. You can have more than one account and earn even more.
- The Facility is open to all Banki Kuu Sacco members & Senior Citizens, all are encouraged to take advantage of the attractive rates.
- Cheque deposits are effective only when the cheques are cleared.
- The Management Committee reserves the right to accept any deposit from the members.
- The maximum interest rate payable is 10.75% per annum.
- A member may roll over the principal amount only or both principal plus interest, on maturity.
- The amount held on a fixed Amana account may be used as loan security in Banki Kuu Sacco in place of guarantors but will not be treated as shares for lending purposes.
- In the event that the deposit is recalled before maturity, the interest will be forfeited.
| Fixed Amana Amount | Duration | ||||
| 3 Months | 6 Months | 12 Months | |||
| 10,000 - 1,000,000 | 9.00% pa | 9.50% pa | 10.00% pa | ||
| 1,000,001 - 3,000,000 | 9.00% pa | 9.50% pa | 10.00% pa | ||
| Above 3,000,000 | 9.00% pa | 10.00% pa | 10.75% pa | ||
JUNIOR SAVINGS
DEVELOP A SAVINGS CULTURE IN YOUR KIDS
| FEATURES | |
| Joining Fee | Kshs.200 |
| Minimum saving | Kshs.500 |
| Account | Tagged to Parent/Guardian Sacco Membership account. No voting rights |
| Loan qualification | The Account does not qualify for any loan facility |
| Loan Guarantorship | Does not qualify for guaranteeing other members’ loans |
| Interest on deposits | Earn interest at the same rate as declared for the Sacco general membership. To be credited back into the junior account |
| Withdraws | Partial withdrawal allowed up to 3 times a year |
| Withdrawal Charges | NIL charges for allowed partial withdrawal |
| Account Closer | With a written letter from the Parent/Guardian. Kshs.500 closure fee |
| Notice for withdrawal not required |
BENEVOLENT FUND SCHEME
LOSING A LOVED ONE IS HARD AND GIVING THEM A PROPER SENDOFF IS IMPORTANT. This scheme aims to cushion members and their immediate families in times of mourning. A member is required to make minimum monthly contributions of kes 1000 (Extra monthly contributions of 700/- to cover children over 25 years)and is eligible for benefits after 6months of continuous contribution.
| FEATURES | PACKAGE DETAILS | ||
| Registration | Must be a member of the Main Scheme | ||
| Monthly Contributions | Benevolent Savings contributions | ||
| Eligibility | After 6 months of continuous contributions | ||
| Entitlement/ Benefits |
| ||
| Turn Around Time | 24 hrs | ||
