Savings Products

Savings Account makes it easy for members to save and access the savings at any time as the need may arise.

Features:

• Minimum monthly savings of Ksh. 500
• Minimum account balance of Ksh. 500
• Minimum balance to earn interest is Ksh. 3,000
• No ledger fees charged on the account
• Can be accessed through Mobile banking (M-Chai), over the counter and ATM card
• Cash withdrawal can be done at anytime
• Used for Salary Processing.

Chai Angel Junior Account has been designed for members’ children below the age of 18 years for the safe keeping of money and saving for the future while enjoying other benefits along the way.

Features:

• Minimum monthly saving is Ksh. 500.
• Minimum account balance is Ksh. 500
• Maximum three withdrawals per year
• 25% discount on bankers’ cheque
• The account is operated by the guardian
• Interest paid at 2% above the interest paid on savings.
• No ledger fees charged on the account.
• Children given piggy banks for home savings and branded T-shirts.

Chai Premier Holiday Account has been designed to offer members a savings facility towards a vacation plan.

Features:

• Minimum monthly saving is Ksh. 1,000.
• Minimum interest earning amount is Ksh. 5,000.
• Minimum account balance is Ksh. 1,000.
• One withdrawal per year.
• Discounted Holiday rates for Sacco members to various destinations across the world.

Reduces loan burden on members for purposes of holiday and anniversary celebrations.

This is an investment account with a higher interest return on money put as fixed deposit.

Features:

• Minimum amount to be fixed is Ksh. 10,000
• Minimum fixed deposit period is 3 months
• Competitive interest rates offered to members
• Fixed Deposit certificate issued to the member.
• Guaranteed returns as per the deposit contract.
• Can be used as collateral for the loan

Chaifama Savings Account is a unique account designed to meet the needs for small scale farmers who receive low monthly proceeds from their farming business. It is suitable for both tea, dairy and horticultural farmers.

Features:

• No minimum account balance is required
• Free processing of monthly payments of up to Ksh. 200
• Free over the counter cash withdrawal for amounts up to Ksh 200
• Minimum monthly share capital contribution of Ksh. 20
• Registration fee of Ksh. 1,000 paid in monthly instalment of at least Ksh. 85.
• Account can be accessed through ATM and M-Chai services.
• Access to Chaifama Loan.

Share Capital is the shareholding that every member hold in the Sacco. It is a long-term investment a member puts in the Sacco for higher returns in form of dividends.

Features:

• Member has right to enjoy all the Sacco products and services.
• It earns members dividends.
• Minimum Share Capital is Ksh. 30,000 per member i.e. 1,500 shares @ Ksh.20.
• Can be transferred to another member upon termination of membership.

Long term non-withdrawable savings contributed monthly by the member.Features:

Features:

• Minimum monthly deposit segmented into business. farmers and check off.

• Higher deposits give a member higher borrowing power.

• Earn rebates.

• Non-withdrawable however is refundable upon termination of membership as per the Sacco by-laws.

• Can be used as security against a loan.