Deposits Account

Non-withdrawable Deposits

• Normal Deposits – On a minimum monthly contribution of Kshs. 3,000, these deposits qualify one to be a member of the Sacco. They enable a member to qualify for the Development Loan, Emergency Loan, Fanisi Loan, Refinacing Loan, Supersavers Loan and School Fees Loan.

• Karo Deposits - This a contributory scheme whose minimum monthly contribution is Kshs. 500. It enables a member to qualify for the Karo Loan product whose multiplier is 3 times the Karo Deposits saved.

• Flex Deposits – This is a contributory and flexible scheme whose monthly minimum contribution is Kshs. 500. It enables a member to qualify for the Special Flex Loan whose multiplier is 3 times the Special Flex deposits saved.

Withdrawable deposit

1. Jumbo Deposits
   These are members' cash savings held in the FOSA accounts in the Sacco as it also acts as a current account where services such as EFT funds transfers, Salary processing, Banker’s cheques, Agency Banking, Mobile Banking are available. The account has a minimum deposit of Kshs. 1,100 for operation
2. Tausi Deposits
   Minimum monthly savings will be sustained at Kshs. 500 through check-off or standing order.This account will be used to apply for Tausi Loan at a multiplier of 4 times the Tausi savings in the account.Minimum period for one to qualify for Tausi Loan is that one must have saved for 6 months. Interest will be credited to the account on monthly basis at the rate of 3% p.a.
3. Fixed Deposits
   Fixed Deposit accounts are available with the minimum amount to fix from Kshs. 50,000. Duration to maturity of the fixed funds vary from 91days,182 days and 365 days. Interest rates are negotiable and competitive according to the amount of funds to be fixed and runs up to 11% p.a.
4. Junior Akiba Deposits
   This account will enable one to accumulate savings for a child/children under the age 18.The account will be operated by the child’s sponsor. Minimum savings is capped at Kshs. 300 through check-off or standing order. Interest will be credited to the account on monthly basis at the rate of 6% p.a.
5. Mustard Asset Deposits
   For restful time when out of gainful employment, plant a mustard seed today. The account gives an additional facility to save for your retirement at a minimum of Kshs. 500 per month contribution through check-off. Interest rate will be at 10% p.a.