VOLUNTARY SAVING ACCOUNT – Muganga SACCO

COMPULSORY SAVINGS ACCOUNT

A Compulsory saving account is a type of account which receives deductions from members’ salaries or any other income of private and corporate members on a monthly basis for direct savings.

Targeted Members

Salaried individual members working in the health sector in Rwanda (public and private);
Public and Private institutions in health sector;
Informal Groups(Ibimina), Associations, Cooperatives, Companies of members.

Benefits

Savings serve as a basic guarantee when members wish to apply for a loan or other credit services.

Eligibility Criteria

For individual; He/She must be a salaried employee in health sector;
Having subscribed to compulsory savings deductions;
Ready to pay at least 5,000frws of initial payment of Share capital (for individual) and 10,000frws (for corporate members).

Products features

Minimum initial deposit: 5,000Frws;
Account maintenance fee/Monthly charges: Not applicable;
No charges applied to Transfers between internal accounts.

Requirement

Fulfil and sign Savings commitment form (Individual & Corporate members);
Copy of Identity card/Passport of applicant.

COMPULSORY SAVINGS ACCOUNT

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