Our Saving Products & their Features

Objective of the product

To promote financial stability, encourage saving habits, provide members with attractive returns

Target group

All active members

Minimum savings balance

100,000 ugx

Maximum saving balance

Open

Eligibility

Must have an account with the SACCO

Interest on savings

• Interest is 7.2% per annum for less than a year

• 12% for FDs that go beyond a year

Payment of interest

Interest is deposited on Member's Ordinary Savings Accounts after the maturity of the Fixed Deposit

Savings frequency

Open

Charges

Withholding Tax 15% of the interest acquired from Fixed Deposit

Withdraw modalities

After maturity, the FD is transferred to the Ordinary Savings account plus its interest for withdrawal

To close account

10,000 Ugx

Fixed Deposit Savings Product

Ordinary Savings Product

Watoto Savings Product

Objective of the product

To enable day to day savings for our members

Target group

All Members, Groups, institutions

Minimum savings balance

10,000 ugx

Maximum saving balance

Open

Eligibility

Must have an account with the SACCO

Interest on savings

0

Payment of interest

Null

Savings frequency

Open

Charges

Withdraw charges, Ledger fees

Withdraw modalities

Via Counter withdrawal

To close account

10,000 ugx account closure fees

Objective of the product

To promote financial literacy, instil saving habits, foster inclusion, and contribute to the overall well-being and development of children and their communities.

Target group

Minors

Target group

All active members

Minimum savings balance

10,000 ugx

Maximum saving balance

Open

Eligibility

Must be a member and a minor

Interest on savings

0

Payment of interest

Null

Savings frequency

Open

Charges

None

Withdraw modalities

Via the counter withdrawal

To close account

10,000 Ugx