Muganga SACCO

SAVING pRODUCTS

compulsory Savings

  • Saving at least 5% of the monthly salary on a monthly basis
  • A minimum of Frw 10,000 for cooperatives, associations and non-earning salary members
  • No withdrawal is allowed for active members
  • Minimum amount to save is Frw 2,000 per month
  • The security of your funds is guaranteed,
  • Using it as loan guaranty
  • Increase the worth
  • No maintenance fees
  • Continue benefiting HSS-MAG’ financial services even in retirement period.

Voluntary Savings

  • No opening and maintenance fees
  • Minimum monthly deposit of Frw 1,000 and above according to members’ capacity to save and needs
  • Flexible in terms of depositing on the account, any amount, any time
  • No withdrawal is allowed from this account before maturity of 3 months
  • Flexible withdrawal of savings amount at maximum of 80% after 3 months
  • Loan amount equal to 2 times amount saved and repayable in one year on the condition of maintaining the monthly saving for the whole repayment period. Withdrawal is not allowed during the loan repayment!