Savings Accounts We have flexible withdraw-able savings accounts for our members

This is a product that a member can use as a savings scheme towards a child’s education, child birth or any other family related expenditure. This product can be used as an approach towards mobilizing funds in addition to the existing education/school fees loan.

• Minimum contribution Kshs. 100 per month.
• Minimum interest earning balance is Kshs. 3,000
• Interest rate is 3% p.a.
• Minimum saving period to earn interest is one year.
• One month written notice must be provided for any withdrawal of savings.
• Any Waskom Sacco member is eligible.
• Account registration forms must be duly completed stating the monthly remittance amount as an addition to the usual shares and any loan repayment amounts.
• Withdrawal of funds must be as per the terms of a product. (i.e. feature 6 and 5 of HOLIDAY and TOTO products respectively.)

This product is aimed at enabling members who would wish to save for 12 months in order to meet expenses of a planned future occasion. (eg. Christmas, Idd, Diwali, Easter holiday seasons, birthday celebration, wedding occasion/anniversary and even marriage dowry funds amongst other occasions). This will ease the heavy burden or debt caused by unplanned spending.

• Minimum contribution is Kshs. 100 per month.
• Minimum interest earning balance is Kshs. 3,000
• Interest rate is 3% p.a.
• Minimum saving period to earn interest is one year.
• Minimum period to access any savings is one year.
• Intervals of accessing any savings is 12 months (yearly)

This is the main mandatory savings scheme for a member. A member is required to remit monthly savings for him/her to remain as an active member.

The Shares plays a significant role when a member seeks credit/loan facility from the Sacco as it acts as a qualifier and security.

This is an non-withdrawable savings and can only be accessed when a member is terminating his/her membership from the Sacco.