- Minimum monthly saving
- KES 1,000
- Interest
- 4% p.a.
- Withdrawals
- Up to 2 a year
This product has been developed to help members save for a holiday outing.
- Savings should be made regularly, usually monthly, not later than the 10th of the following month.
- Minimum monthly saving is KES 1,000, subject to periodic review.
- Additional savings can be made at any other time of the month.
- The member can opt to withdraw all or part of the savings a maximum of two (2) times in any calendar year.
- Minimum saving duration is four (4) calendar months.
- These savings cannot be used as loan guarantee for self or others.
- The Sacco shall have a charge over these savings in the event of loan default by the member or by those the member has guaranteed.
- These savings earn monthly interest at 4% p.a., or a rate determined from time to time.
- These savings are not eligible for the annual interest declared by the Sacco from surpluses at the end of each financial year.