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Save and Grow with Us


Money saved today saves you tomorrow. We offer fixed savings, ordinary savings and long term savings in form of redeemable shares that earn interest at the end of the year.

Savings Account

Shares | Savings | Fixed Deposits

A savings account allows members to accumulate interest on funds they have saved for future needs. Interest rates are compoundedon annual basis. Savings accounts vary by interest rates, method used to calculate interest, and minimum opening deposit. Understanding the account’s terms will allow for a more informed decision on the account best suited for a member need.

1. Ordinary savings account Mandatory minimum payroll deduction of MK 2, 000


Minimum book balance 2,000
Withdrawals at any time
Interest rate is at 4% per annum

2. Fixed deposit


The main purpose of fixed deposit account is to enable the individuals to earn a higher rate of interest on their surplus funds (extra money). The amount can be deposited only once. For further such deposits, separate accounts need to be opened. The depositor is given a fixed deposit receipt which depositor has to produce at the time of maturity. The deposit can be renewed for a further period. As per the Traditional scheme, the principal and interest on the FD account is credited to the Savings account specified on maturity. For the Reinvestment the interest is compounded to the principal amount on maturity. Duration of Fixed Deposit

Fixed deposit can be opened for a minimum period of three months, six months and maximum of nine months. Eligibility for Fixed Deposit

All SACCO members are eligible to open a fixed deposit account. Interest rates:

11 % per annum (1 Month)
10% per annum (2 Months)
9% per annum (3 Months)

Minimum book balance is MK 10,000


Redeemable Shares | Non-Redeemable Shares

A unit of ownership that represents an equal proportion of the company’s capital. It entitles its holder (the shareholder) to claim on the company’s surplus (dividend) and an equal obligation for the company’s debts and losses.

Types of shares

1. Redeemable shares – Funds that a member comits to save directly from their salary. The minimum payroll shares deduction is MK7,000 which are collected 3 months after a member withdraws membership from the Sacco. Redeemable share entitles the shareholder to share in the earnings of the company as and when they occur.

2. Non-redeemableshares – This is a requirement by the government through the RBM that each member contribute minimum of  MK20,000 shares upon joining the Sacco. It is a capital fund from every member to the Sacco. It is collected once off during the members lifetime.


An investment platform for members as they yield dividends at the end of the year based on company’s share capital. Voting rights at the annual general meetings

Let us help you!

If you need any helps, please feel free to contact us. We will get back to you with 1 business day. Or if in hurry, just call us now.

Call : (+265) 881 343 806

info@ucssacco.com Mon – Fri 08:00-17:00

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