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saving Products

1. Member Deposit

Master the rule of financial wellness! Saving money may not feel like your strong suit. It’s easy to get off track and save less than you intended when you’re not consistently saving a portion of every paycheck. But that doesn’t mean you can’t get ahead of the savings game. Automating your savings could be just what you need to get your finances in tip-top shape to ensure you reach your savings goals.
The Deposit account allow members to make a monthly contribution towards the Sacco.

Features

Minimum contribution per member per month is Kes. 1,200.

Benefits

Upon exit from the Sacco , the member can withdraw the savings only if there is no outstanding or guaranteed loan.
A member is not limited to how much to save.
A member can borrow against their deposit contribution.(Self guaranteed)
Member can borrow up to 2 times their total deposit.

2. Share Capital

If you don’t invest, you miss to build on your financial wealth.

Smartly invest on our share capital to get best returns.
The share capital is the shareholding that every member must hold with the Sacco.

Share capital represents a unit of ownership which a member contributes to partly own the Sacco

Features

Non – refundable and cannot be withdrawn even on exit from the Sacco but can be transferred to another member of the Sacco.
Cannot be used as security on loan.
Minimum requirement is KES 5,000 which is 25 shares at a cost of KES 200 per share.

Benefits

Gives you the right to Sacco shareholding.
Earns a high rate of return.
Used to determine loan maximum eligibility.

3. Remican Junior

Saving for a child today is a wonderful gift for their future. It helps them start their adult life with some savings in hand and get involved early in saving culture.

The child scheme is a savings account designed for children below the age of 18 years.

Product Features

Registration fee is KES 300.
Minimum monthly contribution is KES 500.
Allowing members to access the funds to pay fees once per term.
The cheque is drawn in the name of the school.
A 14 days withdrawal notice will be required

Benefits

Can be used as a security for loan by the principle member.
On attainment of 18 years this account can be converted to main account.
Annual access to children promotional materials

4. Fixed Deposit

Investing your money can allow you to grow it. The Zao account is an Investment vehicle that offer members the opportunity to earn competitive rates of return.

Features

Minimum earning balance KES 10,000.
Period 3-6 months at interest rate of 4.5 % p.a.
Period above 6 months at interest rate of 6.5 % p.a.
If withdrawn before maturity date the interest is lost.
Rates will be revised from time to time based on market rates.
Member must provide evidence of source of funds.

Benefits

This return allows your money to build, creating wealth over time.
Withdrawable on request.
Can be used to secure loans

  • Our head office is located at Mariira.
  • Sub- branch at Gakira shopping center

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