UAMINIFU SACCO UPDATES - 24th AUGUST 2021
We take this opportunity to thank you for your continued support and patronization of the SACCO products. As we progress with the third quarter, we kindly wish to bring the following to your attention:
1. Premium Savings
We appreciate members who have voluntarily grown their savings that become handy in emergency situations. Among the key benefits of this savings are:
- Attractive interest rate
- Convenience of accessing the funds
- Ability to set personal target to grow savings.
- Savings can be transferred internally to meet other obligations at no extra cost. i.e. loan repayment, normal savings boost
To ensure this savings product meets its objectives, we will be limiting the withdrawal to twice a year i.e. in June and December of every year. This will be effective from 1st October 2021.
2. Mloan Eligibility Review
We appreciate the members who have consistently repaid their Mloans and commend them to maintain the trend. Further, we wish to advise you that with effect from 1st October 2021 the Mloan eligibility will be 5% of Normal Savings up to a maximum of Kshs. 20,000. The repayment period however, remains at one month from the date of application.
3. Development Loan
In reference to Development Loan flyer in circulation, we encourage members who have attained the 1/3rd rule to consider accessing top up loans.
4. BIMA loan
Members intending to renew their insurance cover are advised to access the bime loan form from our website and ensure the application is submitted together with the application form from KWFT Bancassurance.
Click here to access the BIMA loan form.
5. Excise Duty
In line with the finance Bill 2021 and as earlier communicated through text message, we have implemented deductions of 20% excise duty in respect to all chargeable fees.