Group Savings Account
Are you members of a Chama, Church group, Community Based Organization, Welfare Organization, Boda boda Welfare or any group engaged in legal socio-economic activities?
Are you looking for a way to grow your savings to enable you meet the goals of your group?
Are you looking for a way to access big loans at low and stable interest rates?
Then you have arrived.
Our group savings account operates the same facilities as our Deposit Account, but tailored for groups.
Funds held in this account are non-withdrawable during the lifetime of the group’s membership but can be withdrawn at on termination of membership.
Members of the group contribute their savings at their own meeting and convenience then hand over to their officials to deposit into their group savings account.
The Sacco does not interfere with the managerial, administrative, social or Democratic activities of the group. Tramom Sacco restricts herself to accepting savings and advancing loans to the group.
Access to cheap unsecured loan products to fund the group’s economic activities.
Ability to access big loans guaranteed by the members’ pooled savings.
Handsome interest on deposits as declared by the delegates at the ADM of every year.
Members of your group have an opportunity to both join the Sacco as a group and as individuals i.e. you can join the Tramom Sacco as a group and still open your own individual membership accounts.
Your rights to saving and loan products as an individual member will not be infringed by your membership to your group.