members portal

Junior Account

Putting aside money for your children’s bright future is a valuable step that can help ensure they have the resources they need for education, personal development and financial stability!

Features

  • Opened for a child below 18 years.
  • The member retains full control of the deposits until the junior is 18 years when the funds shall be converted to Sacco deposits.
  • The member can utilize the junior deposits as collateral to secure a loan.
  • Maintain the account by depositing Ksh 500 monthly.
  • A member can withdraw funds from this account once at the end of every 4 months provided a withdrawal notice is given i.e. end of April, August and December respectively.
  • The account earns interest annually. Interest rates are dependent on the Sacco’s performance every year.

 

Note: If these funds are held as a guarantee, the member cannot withdraw from this account unless an alternative security/guarantee is provided.