VOLUNTARY SAVING ACCOUNT
Voluntary Saving Account is a normal saving account that is linked to the current account of the customer. You can save your money any time, as many times as you want and as much money as you want.
This saving account is suitable for customers who wish to save for the financing of large income-generating projects, with the flexibility of limited withdrawal.
Targeted Members
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Benefits
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Eligibility Criteria
- For individual and corporate: He/She/It must have active current account;
- Having paid in full Share capital of 50,000frws;
- Having subscribed to compulsory savings deductions;
- Ready to be registered in Muganga SACCO Mobile Banking;
- Having 18 years old (Minimum);
- Not blacklisted in Credit Reference Bureau(CRB)/Trans Union.
Products features
- Minimum initial deposit: 1,000Frws
- Flexibility of withdrawal of savings amount at maximumof 80% after 3 months;
- Interest rates: 2% per annum (cumulative per month) starting to savings of 50,001frws and above.
Requirement
- Being active member of Muganga Sacco (Individual & Corporate members);
- Copy of Identity card/Passport of applicant;
- Companies: Application letter to account opening, Member registration form, RDB Full registration certificate + BoD resolutions to open account, ID copies of signatories;
- Associations: Application letter to account opening, Member registration form, RGB certificate + BoD resolutions to open account, ID copies of signatories;
- Cooperatives: Application letter to account opening, Member registration form, RCA certificate + BoD resolutions to open account, ID copies of signatories;
- Informal groups(Ibimina): Application letter of opening account signed by a Representative Committee of at least 3 persons and their ID copies;
- Connect and submit requirements(Individual) via https://online.mugangasacco.rw/#