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Fixed Deposit

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The facility is open to all members in any of the Schemes.  Members can encash their personal cheques against their deposits to a maximum of Kes 30,000 in the Premium package Kshs 50,000 in the Platinumpackage  repayable within 30 days from the date of issue.  Members will be required to enclose a cheque including 10% fee of the value of the cheque.  The fee will be charged at flat rate regardless of the duration of repayment period.

FEATURESGENERIC PACKAGEPREMIUM PACKAGEPLATINUM PACKAGE
REGISTRATION Open to all members in any of the Schemes
MONTHLY CONTRIBUTIONS Deposit Shares Contribution

REPAYMENT

30 days from the date of issue with the option of rolling over upon payment of 10% interest

INTEREST RATE

10% of the cheque value

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Membership is open to members of Banki Kuu SACCO.  In order to join the scheme, one is required to fill in a membership application form and pay registration fee of Kes100.  A member is required to make minimum monthly contribution of Kes 1,000 and is eligible for a loan 4 times his/her shares  repayable in 60 months at a commercial rate of interest.
 

 

FEATURES GENERIC PACKAGE PREMIUM PACKAGE PLATINUM PACKAGE
Registration Kshs. 1000 Ksh. 1000 Ksh. 1000
Monthly Contributions Kshs. 1000 Kshs. 1000 Ksh. 1000

Loan Eligibility

After 6 months & interest commercial rate on reducing balance

Repayment

30 months 48 months 60 months

Interest Rate

Commercial rate (16%)

Loan Entitlement

3x Quick scheme shares - Max. loan 300,000 Kshs. 4x Quick scheme shares - No ceiling 4x Quick scheme shares - No ceiling

Restructuring & Top ups

N/A Yes, after 6 months from last drawdown/ restructure.2 months’ charge at 20%  per annum Yes, unrestricted.
2 months'charge at 20% p.a

 

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The scheme is open to members of the Society.  The minimum deposit is Kes 50,000 while there is no maximum deposit and a member can have more than one account at any time.  The amount of the fixed deposits can be used as security for loans with the Society but will not be treated as shares for borrowing purposes.  The interest rates are as follows: -

Duration of  Fixed Deposit

 

3 months

% .a

6 months

% p.a

12 months

% p.a

50,000-1,000,000 8.0% 9.0% 9.5%
1,000,001-3,000,000 8.5% 9.50% 10.0%
3,000,001-5,000,000 9.0% 10.0% 10.5%
Above 5,000,000 9.5% 10.5% 11.0%


 

ISO 9001

Banki Kuu SACCO is now ISO 9001 Certified for compliance and regulation adherence. ISO 9001 is a certified quality management system (QMS) for organisations who want to prove their ability to consistently provide products and services that meet the needs of their customers.

© 2016 BANKI KUU SACCO. All Rights Reserved.

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