Imarika Sacco being a savings and credit co-operative society gives credit to its members.  The capital used to offer this credit mainly comes from the savings from its members. The society majorly relies on member’s shares/long-term deposits and FOSA premium savings to conduct its core business of credit advancement.

Like the loans, the society has over the years developed several savings products to boost its capital base thereby enabling it conduct its business smoothly.

Each savings product has specific features that define it and being a member driven institution, all the savings products earn the member some sort of return.  Each of the savings products has a specific purpose and therefore the savings products are broadly categorized as withdrawable and non-withdrawable.

The society, in addition to the savings products that it offers, it also has an insurance/security fund that it runs for its members.  Each member is required to pay Kshs. 100 every month as insurance.  This sum insures the member against death.  Upon the demise of a member, the insurance clears any loan that the member had with the Society and also refunds to the member’s next of kin the shares amount held as at the time of death.

MALAIKA JUNIOR SAVINGS ACCOUNT

This account aims at enabling members secure their child’s future. Open the Malaika Junior Savings Account and teach them early how to Imarika with the free Parrot Bank!

  • Kshs. 2000 Minimum Balance
  • Best interest rates
  • Earning interest from Kshs. 3000
  • Withdraw 3 times a year
  • Invitations to Malaika Junior Parties and events every December*
  • *For accounts with Kshs. 10,000 and above and over 6 months

ORDINARY SAVINGS ACCOUNT

  • Account opening fee of Ksh 600
  • Minimum opening balance of Ksh 1,000/-
  • Free balance inquiry
  • Linked to ATM and mobile banking services
  • Statement requisition ksh30/-
  • Minimum interest earning balance ksh2000/- and rate is as determined by the Board

SCHOOL FEES ACCOUNT

Ideally this account is to enable members save for school fees 

  • Open to all members
  • Minimum deposit ksh1,000/-
  • A/c to have regular deposits
  • Minimum interest earning balance  2,000/- rate is as may be determined by Board
  • On request by the member, the SACCO can pay fees directly to the school.
  • Free statement of a/c every quarter.

HOLIDAY ACCOUNT

Ideally this account is to enable members save for their holidays 

  • Open to all members
  • Minimum deposit ksh1,000/-
  • A/c to have regular deposits
  • Minimum interest earning balance  2,000/- rate is as may be determined by Board
  • Free statement of account every quarter.

MEDICAL ACCOUNT

The medical savings a/c is designed to enable members save for any eventuality. 

  • Minimum opening balance Ksh1,000/-
  • Regular deposits
  • No restrictions on withdrawals
  • Minimum interest earning balance Ksh 2,000/- rate is as may be determined by Board
  • Free statement of account every quarter.

EKEZA SAVINGS ACCOUNT

This account is for individuals or businesses.

  • No minimum balance
  • Earn interest at Kshs. 5,000
  • The best interest rates
  • Loan is after six months savings through Mavuno tele loan

MAVUNO TELE LOAN

This is the loan for businessmen and women who have the Ekeza Savings Account. As long as you save regularly you can borrow  your average savings!

  • Applicable to starting or existing businessmen
  • 48 months maximum repayment period
  • Loan secured by collateral or guarantors

CURRENT ACCOUNT

This account is a strategic solution aimed at offering operational solutions to members who operate business ventures.

Benefits of current accounts.

  • Enables mulitiple payments
  • Security of transactions/ cash
  • Facilitates Record keeping
  • Facilitates Bulk payments
  • Eliminates the need to visit any of the Branches
  • Cost effective
  • Free quarterly statements

Imarika current account features

  • Opening balance Kshs. 1000
  • Free quarterly statements
  • No below minimum balance fee
  • Monthly account maintenance fee
  • Unlimited withdrawals
  • Competitive interest rates over (Ksh. 250,000/=)
  • Cheque book.

FIXED DEPOSIT ACCOUNT

This account enables members to save lump sums in their possesion, with an aim to invest in a given project in the near future.

  • Minimum deposit amount Ksh. 10,000/=
  • Minimum interest earning period 3 months
  • Attractive interest rate which is negotiated based on amount fixed and period
  • Has an option of pre-mature withdrawal and re-investment.

MSCA SAVINGS

The MSCA savings is a weekly contribution made by every member of a MSCA group with the aim of acquiring a loan. The total premiums contributed after ten (10) weeks and above by a member is what will be used to determine the amount of loan to be given to the member when he/she comes to borrow.

Download the account opening application form Here