Savings product
Compulsory Monthly Savings
The habit that builds your borrowing capacity.
Every ordinary member saves at least UGX 20,000 a month. Compulsory savings build your track record, serve as part of the cash cover for loans and are the stable funding base of the SACCO. Employed members save through payroll check-off; others through mobile money, USSD or agents.
- Eligibility
- Required of all ordinary members.
- Deposit frequency
- Monthly, from UGX 20,000 (you may save more).
- Minimum balance
- UGX 20,000
- Maximum balance
- No maximum
- Interest or dividend terms
- Interest of 5 percent per annum, rewarding discipline.
- Withdrawal conditions
- On exit, or partially after 24 months of membership.
- Fees & conditions
- To be confirmed