This product is intended to benefit members who want to save not necessarily to accomplish something but to be able to access money any time they need it.

Features

• The opening amount is 100.000/= (One hundred thousand shillings)
• Any amount can be deposited on the member’s account.
• A member can access the money any time as long as the savings were not used to secure a credit facility (A member is not allowed to withdraw the amount of savings that was used to secure a credit facility at any one moment in time unless the credit facility has been cleared).
• The member can only withdraw up to 70% of the total savings on the account at any time.
• Withdraw can only be done once in a quarter. However, the following applies also
• if you have a loan, one is not eligible to withdraw below the amount at which they secured
  the loan at. Say one applies for a loan with General savers account balance 100,000, but
  they have continued to save as they service the loan and their account has grown to
  120,000/=, the only amount one can access is 20,000/=, 50,000/= will be charged on any additional withdraws within the quarter (3 months are considered a quarter).
• Annual interest will be 5%
• NOTE
  • These products will be used as security for loan requests. One should not withdraw below the amount at which he or she secured the loan at.
  • Members can save using mobile money, direction remittances from pay slip and bank deposits (details of the accounts can be got from the KHASAKH office).