A group savings account designed for Chamas and investment groups.
Requirements:
• Copy of national IDs/passports, signatures of members
• Passport size-coloured photographs
• Registration certificate and constitution
• Minutes of the meeting approving opening of the account and signing mandates
Features:
• Membership of 5-20 per group
• Interest earning rate of 6% per annum
• Minimum monthly contribution of Kshs. 5,000
• Minimum interest earning amount of Kshs. 50,000
• Minimum share capital of Kshs. 30,000
• A relationship Officer allocated to the group
• Qualify for Chamaa Loan (up to Kshs. 5M)