JUNIOR SAVINGS ACCOUNT
This account is designed to provide a facility for members to save for their children and help introduce them into the saving habit early in life. Starting your child on a savings plan early can help set him/her up for a secure financial future.
¨ Account is run and managed on behalf of the child by the parent or guardian until they reach 18 years.
¨ Annual interest of 6% is earned on amounts of Kshs. 5,000 and above.
¨ Opening and minimum operating balance Kshs 5OO
¨ Minimum monthly contribution amount is Kshs.500.
¨ Withdrawal from the account is permitted every four months provided the balance is not less than Kshs 500
¨ Can be used as collateral for school fees loan
¨ No ledger fees.
The Scholar Account is designed for students above 18 years and in tertiary learning.
¨ The student manages his/her own account
¨ No ledger or maintenance fee
Annual interest of 6% is earned on amounts of
Kshs. 5,000 and above.
Featured below: Member Peter Njuguna Karanja, a beneficiary of Finnlemm Car Loan, receiving car keys from the Sacco Credit Manager-Mr. Morgan Kwalia