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Fixed Deposit Account

Mhasibu Zao Scheme (Fixed Deposits)

 

Key management features of the product
1. Minimum earning balances is KES 10,000
2. Members cannot convert their current deposits in the Sacco
3. Interest is accrued daily.
4. Mhasibu Zao Scheme has an interest return rate of 10% p.a.
5. Fixed deposit Periods are Three , Six, Nine and Twelve Months
6. On maturity, the investor can;

      • Re-invest the whole amount
      • Withdraw part and re-invest the balance
      • Withdraw the whole amount (Principle plus interest)


7. The Fixed Deposit Account can be used to secure loans at 100%
8. Withdrawal before the fixed period will lead to loss of the interest income.
9. The more you fix, The longer the time, the higher the return