Junior Savings
Description
A member can open and operate a savings account for children under 18 years of age. The savings will earn an interest of 6% per annum.
Features
- The account earns an interest of 6% p.a. after actively running for at least six consecutive months.
- Interest would be paid on a minimum balance of Kshs. 10,000.
- A transaction fee of Kshs. 200.00 will be charged for every withdrawal and Kshs.100.00 for any additional cheque paid on the same request. Excise Duty of 20% on the transaction fee is charged.
- A member can withdraw only once every six months.
