Saving Products

“Convenient access to your money”  

This account offers you an express access to your cash at any time.

Key requirements

  • Being a teacher or an employee in the Education Sector.

 Key Benefits

  • Access to your cash at level of all the branches of Umwalimu SACCO.
  • Access to your cash at level of Umurenge SACCO.
  • Offers access to loans;
  • Minimum balance: Frw 5,000
“Let your savings be at your most convenience pace”

This account is a mandatory saving account for each member who gets the salary across its current account.

Key requirements

  • Having  a current account in Umwalimu SACCO.

Key features and Benefits

  • Regularly save at least 5% of the monthly net salary for teachers in Primary and secondary public and privates Schools;
  • Regularly save at least 10% of the monthly salary for non-teacher members working in the Education Sector and UMWALIMU SACCO staff;
  • Earning interest of 4% on amount saved per annum;
  • No withdrawal is allowed for active members;
  • Using it as loan guaranty
“Give your child an advantage for life.”

This accounts helps you saving for small projects for the purpose of improving your home

Key requirements

  • Having a current account in Umwalimu SACCO

Key features and Benefits

  • Deposit amount of Frw 1000 and above depending on the choice and the capacity of the member;
  • Competitive interest rate depending on the amount and period saved;
  • Free maintenance fees
  • Free withdrawal upon expiry of the contract
  • Easing the start of the home life;
  • The discipline in money management (good habit in saving);
  • A link to suppliers to facilitate payments & Access to quality equipment;
  • To qualify for financing, savings must be at least 20% of the total cost of the item to finance &Using equipment as collateral
“With You, Every Step of the Way.”

This accounts helps you saving for small projects for the purpose of improving your home

Key requirements

  • Having a current account in Umwalimu SACCO

Key features and Benefits

  • Deposit amount of Frw 1000 and above depending on the choice and the capacity of the member;
  • Competitive interest rate depending on the amount and period saved;
  • Free maintenance fees
  • Free withdrawal upon expiry of the contract
  • Easing the start of the home life;
  • The discipline in money management (good habit in saving);
  • A link to suppliers to facilitate payments & Access to quality equipment;
  • To qualify for financing, savings must be at least 20% of the total cost of the item to finance &Using equipment as collateral
” With Us, get a better return for your savings “

A fixed deposit is an account which helps you watching your savings growing

Key requirements

  • Having a current account in Umwalimu SACCO

Key features and Benefits

  • Minimum account opening balance Frw 60,000
  • Free maintenance fees
  • Interesting and competitive interest rate depending on the amount and period saved
  • Increase worth with high return
  • Flexible terms safety and security of fund

Features and Benefits

  • No opening and maintenance fees,
  • Minimum monthly deposit Frw 1000 and above according to members’ capacity to save and needs,
  • Free deposit on the account, any amount, any time,
  • Start earning interest when you have saved over Frw 20,000
  • No Withdrawal is allowed from this account before ma- turity of 3 months
  • Maturity is 12 months renewable
  • Flexible withdrawal of savings amount at maximum of 80% after 3 month
  • Competitive interest rate depending to the amount and the period saved
  • Allow members to plan save for their children’s school fees from an early age
  • To qualify for financing, savings must be 1year minimum saving term
  • Loan amount equal to 2 times amount saved and repayable in one year
  • Automatic and quick access to school fees loan with- out formalities or paperwork
  • Members will be able to pay school fees on time and preserve their dignity
  • Affordable: no fees
  • Disciplined in cash management and savings
  • Automatic and free transfer of school fees to the schools’ accounts from the branch,
  • Possibility of transfer through mobile banking.

Requirements

  • Having opened Free Saving account with Umwalimu SACCO
  • Fill and sign school fees saving account form
  • Full legal identification