Retirement Savings Account
Savings Products
This is a savings account where an active member continuously saves and only accesses the money upon exit from the SACCO with an interest of 3% P.a. on the accumulated amount.
Characteristics of Ordinary Savings Account
This is a savings account where an active member continuously saves and only accesses the money upon exit from the SACCO with an interest of 3% P.a. on the accumulated amount.
| Characteristic | Description |
|---|---|
|
Maximum savings amount |
Dependent on the member |
|
Minimum savings balance |
NIL |
|
Interest on savings |
3% p.a |
|
Access to withdraw |
At death, retirement or dismissal |
|
Saving frequency |
Monthly |
|
Method of collection |
Monthly of over 50% of normal saving Voluntary deposits |