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Deposit Querries

1. What is the minimum contribution?

  • The minimum contribution is KES 1,600 per month.

2. What is the difference between deposits and shares?

  • Deposits are withdraw-able members’ savings while shares or share capital is the permanent member contribution toward the Sacco capital and forms part of Sacco equity.
  • Shares cannot be withdrawn even on exit from the Sacco but can be transferred to another willing member.
  • Each member must have a minimum of Ksh 10,000 in share capital unlike deposits which have no minimum amount.
  • Deposits earn interest while share or share capital earn dividends
  • Deposits can be used as loan security while share cannot be used loan security.

end faq