Fixed Deposit Account
Earn higher attractive rates of interest when you set aside your savings for a longer period of time.
Features & Benefits
* Account available for all Sacco members.
* Account holders save as an investment (expecting higher returns).
* Competitive interest rate.
* Minimum fixed deposit amount of Kshs 5,000.
* Cash deposits or direct transfers from Savings Account
* No cheque deposits
* Payment is by cash transfer to the Savings Account.
* Relatively higher returns
* Withdrawal upon maturity of contract
* Interest forfeiture upon breaking contract
* Account operated from domicile branch
* ID card
* 1 passport photo
* A duly complete opening form.
Withdrawable Deposits (FOSA)
This is a conventional savings current account similar to those offered by commercial banks.
* Minimum account operating balance is Kes500,
* Makes it very convenient to process member payment and loans
* Personal cheques can be deposited in this account
* Salaries are paid through this account
* Enables a member to access a wide range of credit facilities like FOSA loan, Salary Advance, Medical loan and School Fees Loan
* Visa electron debit cards (ATM) make the funds accessible 24/7 all over the world
* Cash can be accessed at all Visa branded outlets and POS outlets or over the counter
* Attracts competitive interest rates