Ordinary Savings Account
This is an account open to anybody who wishes to save any extra money that comes your way for a rainy day. The requirements are as follows:-
- Two colour passport size photographs.
- Photocopy of I.D. or other valid identification documents.
- Signatures specimen.
- Minimum opening balance Kshs. 500.
- Minimum interest earning balance Kshs. 5,000.
- There will be withdrawal charges on these accounts.
- Money accumulated in these accounts will be withdrawableon need basis.
- An interest of 5% per annum shall be paid on balances of not less than Kshs. 5,000 calculated at the end of the year.
Corporate/Welfare Groups Savings Accounts
This comprises of corporate, welfare, youth, women groups, schools, churches,non-profit making organizations among others that wish to open savings accounts.
The requirements are as follows:-
- Minutes of the corporate/welfare groups authorizing opening of a savings a/c.
- Introduction Letters.
- Copy of the Constitution.
- Copy of Certificate of registration.
- Two passport size photographs for each signatory.
- An opening fee of Kshs.500.
- Minimum interest earning balance Kshs.5,000.
It is important to note that members who do not have a common bond with Fundilima SACCO Ltd. require one referee who must be a genuine (bona fide) SACCO member.
Junior Savings Account
The minimum opening balance is Kshs.250. There will be absolutely no charges on this account if no withdrawal is made. Annual events such as trips for savers may be offered where a Saver saved Kshs.15,000. Money accumulated in this accounts may be used to give advances to the members at reasonable rates. There is need to publicize this accounts in neighboring towns and shopping centers
This is an account designed to encourage saving culture by people operating small business. The Minimum opening balance is Kshs.3,000. No limits on withdrawals and frequency. Account holders shall be provided with cheque books and ATM Card. Individual or group of people who are in the same business can operate the account.