SAVINGS ACCOUNTS

REACH YOUR FINANCIAL TARGETS WITH OUR SAVINGS ACCOUNTS

"We have different savings accounts for your every day needs"

Savings Accounts provide opportunities to individuals and corporate bodies to accumulate regular savings. The Society offers both medium and long-term savings accounts to members.

Prior to opening a savings account, the individual requesting the account shall have been admitted as a member of the society. Contributions can be through check off, standing orders, mobile banking, direct deposits, or bank transfers.

Upon successful completion of membership registration, 3 mandatory accounts are created;

Share Capital- Amount of shares available
Alpha Deposit – Non-withdrawable Savings Account which is also Multiplier Account for loans
Prime Account – Transactional/Current Account

TYPES OF SAVINGS ACCOUNTS

Shares Capital Account

Alpha Deposits Savings Account

1.This is members’ stake/ownership of equity in the Sacco.

2. It is non-withdrawable but transferable upon member’s exit.

3. The investment attracts an average annual return in form of dividends payable.

4. The payback period to recoup the investment is 7 years.

5. The shareholding in Stima Sacco is according to the membership graduation model as below:

a. Individual Membership

Member Category	Share Capital Threshold (Ksh.)	Minimum Shares
Priority	Above 100,000	200
Diamond	50,000	100
Gold	25,000	50
Silver	5,000	10
Prime Investor	500	1

b. Corporate Membership

Member Category	Share Capital Threshold (Ksh.)	Minimum Shares
Corporate Diamond	100,000	200
Corporate Gold	50,000	100
Corporate Prime Investor	500	1

c. Chama Membership

Member Category	Share Capital Threshold (Ksh.)	Minimum Shares
Chama Diamond	50,000	100
Chama Gold	25,000	50
Chama Prime Investor	500	1

1. These are the continuous monthly savings that members make to the Sacco throughout their membership.

2. Alpha Savings earn interest annually and allow members to access deposit-based loans.

Minimum monthly contributions

• Individuals Kes. 1,000/=

• Groups Kes. 5,000/=

• Corporates Kes 10,000/=

3. Can be contributed through standing order, check off, mobile banking, bank transfer or direct deposit.

4. Can only be accessed upon membership withdrawal.

5. Interest Rebates shall be automatically capitalized for any member holding less than the Minimum Share Capital.

Twiga Savings

Junior Star

Msingi Bora

Mustard Account

Prime Account

1. This is an excellent saving facility where members build up savings for school fees, holidays, weddings, festive season, among others.

• Minimum monthly savings Kes 1000/=

• Minimum monthly balance Kes 500/=

• Balance above Kes 6,000/= earns interest of 3% p.a.

• No monthly charges.

2. First withdrawal can be done after 6 months, after which can be made every 3 months.

3. Early withdrawal charges:

a) Kes 500/= for amounts less than Kes 10,000/=

b)5% for amounts greater than Kes 10,000/= or capped at Kes 2000/= whichever is lesser.

c)Not to be considered when the amount is being utilized to pay off an outstanding loan.

d)Not to be considered when the amount is being transferred internally to any of the members Savings Account with the exemption of Prime Account

4. Dormancy after 6 months

1. This is a children’s savings account for short term future financial needs.

• Minimum monthly savings of Kes 500/=

• Minimum account balance Kes 500/=

• Minimum interest earning balance is Ksh.5,000

2.Withdrawal can be done once every three (3) months

3.Withdrawal before 3 months’ period is over is permissible but a charge of Ksh.500 per withdrawal unless the amounts are being transferred for loan pay off or to another savings account except Prime account.

4. No ledger fees or account maintenance fee.

5. Dormancy is after 6 months

1. This is a long-term contractual savings plan for children to help members accumulate savings for paying secondary, college or university fees.

• Minimum monthly savings of Kes 500/=

• Account minimum balance of Kes 500/=

• Contract term between 5 – 18 Years.

2. Projected savings insured against the principal member’s death and permanent disability.

3. After 3 years the member qualifies for a self-guarantee school fees loan of up to 75% of the Msingi Bora savings.

4. On premature termination of the contract the member will:

• Forfeit the interest earned and pay 2% early withdrawal charges.

• Refund all premiums paid to the insurance.

Dormancy after 6 months

Interest of 5% p.a. paid at the end of the contract

1. This is a long-term savings account specially designed for members’ preparation for retirement:

• Minimum monthly savings Kes 600/=

• Minimum monthly balance Kes 500/=

• Earn interest of 5% p.a

• No monthly charges.

• Partial withdrawal up to 25% of the savings per annum is allowed.

2. Early withdrawal charges:

a) Kes 500/= for amounts less than Kes 10,000/=

b)5% for amounts greater than Kes 10,000/= or capped at Kes 2000/= whichever is lesser.

c)Not to be considered when the amount is being utilized to pay off an outstanding loan.

d)Not to be considered when the amount is being transferred internally to any of the members Savings Account with the exemption of Prime Account

3. Dormancy after 6 months

1. This is a current transactional account for members.

2. Allows salary processing, cheque clearing, loans, external & internal transfers.

3. No ledger fees or monthly charges:

• Minimum balance Kes 500/=

• The minimum interest earning balance is Ksh.20,000 and the interest is calculated
daily and credited at the end of the month.

• The annual interest rate is 2% or as may be determined from time to time.

• Maximum of Kes 400,000/= per day over the counter withdrawal.

4. Funds access channels includes SACCO LINK ATMs, Stima Sacco cheque book and mobile banking.

5. Statements can be viewed online via the web portal.

6. Maintaining an active Prime account enables a member to access M-Pawa Loan.

Call Deposit Account

Fixed Deposit Account

Golden Savings Account

1.Funds can be recalled anytime without losing Interest.

2.Guaranteed return on Investment

3.Minimum is Kes 5,000

1.Fixed deposit account is a withdrawable deposit account where depositors can place short term deposits for a specified periods of time usually between three to twelve months.

2. The account targets members who wish to put aside funds for investment, and they are certain of the period that they can commit the funds.

3. Minimum deposit amount is Kes.5,000.

4. Funds can be fixed either for 3, 6 or 12

5. Interest is computed daily and credited at the maturity of the contract period subject to a withholding tax of 5%.

6. Accrued interest is forfeited if a depositor withdraws the funds before maturity date.

7. The customer is issued with a Certificate of Deposit upon depositing the money.

8.The Certificate of Deposit details the amount deposited, date deposited, interest rate applicable, contract period and the maturity date.

9. Upon maturity the depositor can rollover the principal together with the interest or collect interest and rollover the principal or collect both principal and interest.

1.This is an investment option account that guarantees a minimum return monthly subject to the amount invested.

2. Amounts fixed for a period of 1 year.

3. Minimum Deposit is Kes.5,000.

4.Monthly returns can be wired to the beneficiaries upon request

FIXED DEPOSIT RATES

Latest FDR rates as at 2021

sort fixed deposit rates

4% — 7%

6% — 10%

Amount	Call (%)	3 months (%)	6 months (%)	12 months (%)
100m and above	7.00	9.50	9.75	10.00
50m-99.9m	7.00	9.00	9.50	9.75
10m-24.9m	6.50	7.50	8.50	9.00
5m-9,999,999	6.50	7.25	8.00	8.50
3m-4,999,999	5.50	7.00	7.50	8.00
1m-2,999,999	5.25	6.75	7.00	7.50
400,000-999,999	5.00	6.50	6.50	7.00
50,000-399,999	4.75	6.25	6.25	6.50
5000-49999	4.50	6.00	6.00	6.00

Open a Savings Account

Are you a member of Stima Sacco? Click here if No.

If yes, fill in the form below and one of our representatives will get back to you on opening a new savings account.

Name

Phone Number

Nearest Branch

Savings Account

Message

FREQUENTLY ASKED QUESTIONS

What are the prevailing term deposit rates?

The current prevailing rares are updated in the table above

How do I change my monthly deductions?

Fill in the deduction change advice form available in all our branches or download from the Stima Sacco website.
• Submit the filled in form to your nearest branch or scan the form and send to customercare@stima-
sacco.com for the change to be

effected.

Placing a standing order for your savings.

Fill in the standing order placement form to place or amend an existing standing
order and submit to your nearest branch.
• How long it takes to update standing orders?
One day.
• Standing order charges.
The fee for placing an external standing order is Kes 300/= There is no charge for placing an internal standing order.