Savings Products
- Open to all members
- Contributions are voluntary.
- Minimum contributions is Ksh 500/- per month.
- Withdrawable on request.
- This is a voluntary contribution savings scheme for a merry x-mass.
- Minimum contribution of Ksh 500/- per month.
- Withdrawable every December and earns attractive interest.
- Premature Withdrawal attracts a 5% charge.
- voluntary contribution for urgent medical care.
- Minimum contribution of Ksh 500/- per month.
- Withdrawable on request.
- Minimum savings: Ksh. 1000 per month
- Interest payable: 5% per annum for savings aboveKsh 12,000
- Premature withdrawal: 10% of withdrawn amount
- Open to all members
- Earn interest up to 7% p.a.
- Fixing periods are 3 months, 6 months and 12 months.
- The Pensioners who have fixed their Lump sum have really enjoyed the returns.
- You are allowed to fix any amount.
- This is a school fee savings plan for the young ones less than 18 years.
- Members are encouraged to save and train their children on importance of saving. This will inculcate the culture of saving in our children.
- Registration fee is sh.500.
- Documents needed for account opening are the national ID copy of the parent/guardian and birth certificate of the child.
- Fill Toto – Poa account opening form.
- No minimum savings.
- Withdrawable quarterly in a year.
- Savings earn attractive interest per year.
- The Sacco organizes an annual Toto-poa Fun Day, providing a platform for children come together and enjoy fun activities. The event also includes valuable lessons for both children and their parents or guardians.
- This saving must be made regularly for one to remain an active member
- One qualifies for a loan four times the total saving but depending on ones ability to repay the loan and the security offered.
- Minimum share capital of Ksh. 16,000
- Transferable to the next-of-kin or an existing member but not refundable.
- Mandatory to all members.
- Attracts an annual dividend income.
- In this group model, individuals save KSHs. 225 per week. Members in a group save a minimum of Sh.200 and Sh.25 for insurance premium. Cumulatively, each group member should save shs.900 per month.
- Loan is given in turns, at a graduation scale of 15,000; 25,000; 40,000; 60,000; 85,000 and the sixth loan to be Ksh. 100,000, officials to be given last to help monitor repayments.
- Account opening fees is Sh. 500 for individuals and the groups. Individuals are to open the accounts under the group and be linked with the group.
- A savings period is 3 months before the loan is applied to allow training of the groups on the credit management, appraisal process and assessment.
- Groups must register with the Social services and have updated certificate.
- Group members co-guarantee each other.
- Maximum loan repayment to be 12 months.
- The scheme is mandatory for all sacco members. Upon joining, members must complete the Last Expense Plan membership form and contribute a monthly risk fund of Ksh. 400.
- The fund provides insurance coverage for loans taken by the member and includes a funeral rider in the event of their passing.
- Member must complete a form and provide details of their dependants covered under the scheme. Required documents include.
- A copy of the National ID for the principal member, spouse, and biological parents.
- A copy of the birth certificate for children Coverage includes:
- Principal member
- One Spouse
- Up to three biological children (below 25 years)
- Biological parents (below 80 years at the time of joining)
- Parents-in-law (below 80 years) at an additional contribution of Ksh. 200 per month Claim Payment Process
- A claim is payable only upon the demise of a person covered under the scheme
- The principal member must be up to date with monthly contributions
- A claim form will be provided by the office, to be completed and submitted with the following documents:
- Burial permit
- Confirmation letter from the relevant administrator
- Copy of the National ID of the principal member
- Once all requirements are met, the claimant will receive Ksh. 60,000 per dependent and the same amount for the principal member